Michael Lewis: "The Financial System Works Beautifully If The Dicks Are Smart"


The problem this time around, according to ML? Was that "most of the dicks were stupid." Stewart's two cents: "The entire financial market was a bunch of George Costanazas, telling lies they believed." (And banging their cleaning ladies on the desk, do not forget that.) Also, note the cat-calling for Einhorny from the audience. Nice to see others finally getting on board.


Fed Officials Wonder If Those Concerned About Volatility Actually Understand How Financial Markets Are Supposed To Work

The presidents of the Cleveland and San Francisco have better things to do than placate the alarmists, like clean the crud out from under their fingernails.