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Madoff Roast Postponed To Allow For Airing Of Grievances To Be Compiled

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CNBC reports that Bernie Madoff's sentencing, originally scheduled for June 16, has been postponed 'til June 29, to give victims a little more time to work on their statements, which are to be read in court. They now have until June 10 at 9PM to get them in, which should leave plenty of time for Wanda Sykes to do some re-writes. If you're feeling inspired, or have any suggestions for material other than "don't worry about missing the handies, Bubba will have you covered," please feel free to share at this time.


Rarefied Air

A few years ago I was fortunate to attend a lecture given by Paul Wilmott challenging the wisdom of modeling derivatives on the assumption that there is no arbitrage. He floated an alternative approach (as but one of many possible heterodox approaches) outlining the pitfalls therein – chiefly the difficulty of convincing investors to bear with you until your thesis proves out – and toward the end he took questions. Some brave soul asked him, “Where does the money come from?”