The title to this posting applies to a highly informative article by Azam Ahmed at the New York Times on How Boaz Weinstein and Hedge Funds Outsmarted JPMorgan.
The market for credit derivatives has struck a "gambling" bank again.
Whatever the "croupier" regulators in Washington D.C. are doing about gambling with credit derivatives, it does not seem to be working.
Can keeping banks from "gambling" and keeping other "gamblers" from "counting financial cards" be that difficult?!
Or have we none smart enough in government to deal with the people they are supposed to regulate?
Maybe the government should hire some of the people who are MAKING billions to tell them how the system can outsmart those who are busy outsmarting the system. Why are all the top chess players on the private side of the equation?
On the other hand, we are very much in favor of wealth accumulating in the hands of those who understand wealth, and who know what to do with money, so perhaps this is just a battle for the survival of the fittest in financial circles.
But then again, what gain does the average citizen have from this, other than financial ups AND downs. Recessions are adjustments, nothing more.
After all, as a legal matter, all kinds of gambling can be prohibited by law, also financial gambling by banks and funds. Maybe also the government should hedge ITS bets!
But what then would be the cost of prohibition? Would the money all then run off to overseas gambling meccas? Perhaps.
Nevertheless, who says we have to play by traditional rules that always favor those who have deeply studied and best understand the game to be played, in which case the result of the game is determined by those same rules -- as John von Neumann game theory so aptly demonstrated.
It is perhaps time to change the rules and level the playing field -- again.
Pawn to King 5 to open the game!
That might bring things back to "square one".
Monday, May 28, 2012
Most Popular Posts All Time
- Samsung Digital Picture Frame 2006 is Clear Designer Prior Art to the Later "Design" of the iPhone and iPad
- How to Remove Disabled Greyed-Out Add-on Extensions in Firefox 4: e.g. the Microsoft .NET Framework Assistant (ClickOnce) Extension
- Legal Graphologists : A Query to You : What About the Christopher Marlowe - William Shakespeare - Controversy and The Signatures of These Two Authors? Are They By the Same Hand?
- PONG ! About that Ridiculously Granted Bounce-Back Scrolling Patent US 7469381 Which Is Anticipated by the Prior Art and Obviousness of the Old Atari Game of PONG
- Speaking of Mouse Trap Economics, What About that Yarn that Patents Stimulate Invention: Les Earnest Testifies Before the USPTO
- "The Adobe Flash plugin has crashed" in Mozilla Firefox - A Solution for this Vexing Problem
The ISandIS Network
Our Websites and Blogs: 3D Printing and More 99 is not 100 Aabecis AK Photo Blog Ancient Egypt Weblog Ancient Signs (the book) Ancient World Blog AndisKaulins.com Anthropomorphic Design Archaeology Travel Photos (blog) Archaeology Travel Photos (Flickr) Archaeo Pundit Arts Pundit Astrology and Birth Baltic Coachman Bible Pundit Biotechnology Pundit Book Pundit Chronology of the Ancient World Computer Pundit DVD Pundit Easter Island Script Echolat edu.edu Einstein’s Voice Energy Environment and Climate Blog Etruscan Bronze Liver of Piacenza EU Laws EU Legal EU Pundit FaceBook Pundit Gadget Pundit Garden Pundit Golf Pundit Google Pundit Gourmet Pundit Hand Proof HousePundit Human Migrations Idea Pundit Illyrian Language Indus Valley Script Infinity One : The Secret of the First Disk (the game) Jostandis Journal Pundit Kaulins Genealogy Blog Kaulinsium Kiel & Kieler Latvian Blog LawPundit.com Law Pundit Blog LexiLine.com LexiLine Group Lexiline Journal Library Pundit Lingwhizt LinkedIn Literary Pundit Magnifichess Make it Music Maps and Cartography Megalithic World Megaliths Blog) Megaliths.net Minoan Culture Mutatis Mutandis Nanotech Pundit Nostratic Languages Official Pundit Phaistos Disc Pharaonic Hieroglyphs Photo Blog of the World Pinterest Prehistoric Art Pundit Private Wealth Blog PunditMania Quanticalian Quick to Travel Quill Pundit Road Pundit Shelfari SlideShare (akaulins) Sport Pundit Star Pundit Stars Stones and Scholars (blog) Stars Stones and Scholars (book) Stonehenge Pundit The Enchanted Glass Twitter Pundit UbiquitousPundit Vision of Change VoicePundit WatchPundit Wine Pundit Word Pundit xistmz YahooPundit zistmz