StreetScooby

OMG, that made me laugh. Thanks, I needed that today. We are all engines of karma

The piece is pretty well done, albeit a bit over dramatized wrto leverage. In our financial industry, there are four broad types of paper: 1) Green paper 2) Stocks 3) Bonds 4) Insurance policies We all know and love green paper. The difference between stocks/bonds and insurance policies is pretty straight forward, in simplistic terms. If a trader buys or sells a "real" stock or bond, within 3 days or less the green paper and "white" paper change accounts at a Federal Reserve Bank. Otherwise, it can be viewed as an insurance policy. There are a huge number of insurance policies in our system: options, futures, CDS, and all other "derivatives". Lots of people loaded up on insurance policies. You could actually go out and buy more insurance than was available in the underlying market for the stock/bond. Once those underlying instruments starting going bad, people wanted to call in their insurance policies. The early ones calling it in made it. The rest didn't, in addition to those folks that actually wrote the insurance policy. In a simple nut shell, that's what's happening right now. We are all engines of karma

+1 We are all engines of karma

FT is basically the WSJ of Britain. Usually very good articles. We are all engines of karma

By law, the seller must have borrowed the shares. Unfortunately, many do not borrow the shares, and engage in "naked short selling". That's illegal, but difficult to enforce. Naked short selling should absolutely be illegal, but short selling itself is an essential part of the free market system. We are all engines of karma

ROFLMAO! We are all engines of karma

No, you're Mr. Pink... (that's from Reservoir Dogs...) We are all engines of karma

+1 We are all engines of karma

Get over it. Personally, I judge people by their actions, not their skin color. We are all engines of karma

English is the only language our government should communicate in. We are all engines of karma

Somehow, I'm not surprised you speak French We are all engines of karma

It's my understanding that's it's part of the citizenship requirements. We are all engines of karma

Agreed! We are all engines of karma

You're wrong. English is our country's language. We are all engines of karma

It continues to boggle my mind that people can't even agree on what's being measured, much less what is means. Something is wrong here. We are all engines of karma

At this point in time, billvon, you should know that I consider myself to be American, and a patriot to boot. Our culture is worth preserving. Why do so many people want to move here? In moving here, you adopt our ways, not your old country's ways. If you want to keep your old country's ways, stay in that country. Multiculturalism must have its limits. It's part of being a citizen. We are all engines of karma

Hamas doesn't even acknowledge Palestine as a state. It's never been a state. It's considered a part of a larger Muslim nation. We are all engines of karma

So, Obama is a dangerous nigger? (...it's a joke) We are all engines of karma

This is really the job of parents, not the government. We are all engines of karma

At the Ranch, on some days it starts at 3k. Always by 6k. We are all engines of karma

That should go. Likewise, all government documents should be in English, and English only. We are all engines of karma

The key phrase here is transitional. As long as that's the case, it's entirely reasonable, IMO. We are all engines of karma

Agreed. We are all engines of karma

Their focus should be learning the language to begin with. We are all engines of karma

You're wrong. In the USA, you must pass an English proficiency exam. If you want to live in the USA, you must be able to function with the language. If you don't want to do that, go back to where you came from. We are all engines of karma