Comments on: When the SEC regulates derivatives A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 By: Baron von Lufthoven Sat, 06 Jun 2009 09:46:40 +0000 For anyone who has ever heard of the Salad Oil Scandal, fraud isn’t all that difficult to perform.

You just need a smile, and an excellent chef.

By: Brown Ram Sat, 06 Jun 2009 05:19:23 +0000 Actually, if you still believe that the SEC has a role in regulating securities, it probably makes sense for the SEC to regulate securities if the subject matter of the derivative is a security. Think of it this way–there’s no real fraud that you can commit when you have a futures contract on soybeans. A soybean can’t be manipulated. On the other hand, it is relatively easy manipulate (or at least commit fraud) on the stocks and bonds underlying options and CDS.

By: Baron von Lufthoven Fri, 05 Jun 2009 15:17:44 +0000 In my humble opinion, it doesn’t matter which body ‘regulates’ derivatives.

The ‘right’ people will always be appointed, or placed in positions to control the extent to which the powers that be – and they be – are able to manipulate the markets to accomodate their own designs.

All of the adequate regulations were in place. They had been in place since 1933-34.

Why were the rules changed on the last day of Bill Clinton’s presidency by the same individuals who the Glorious Saviour Obama has placed in high office?

To regulate or not to regulate, THAT is the question.
Whether ’tis nobler in the mind to suffer
The slings and arrows of exponentially expanding credit,
Or to take arms against a den of vipers,
And by opposing end them? To die: to sleep;
No more; and by a sleep to say we end
The heart-ache and the thousand natural shocks
That flesh is heir to, ’tis a consummation
Devoutly to be wish’d. To die, to sleep;
To sleep: perchance to dream: ay, there’s the rub…


Words such as ‘Republicrats’ come to mind.

Honest democracy has evaporated into the airy firmament
and appears no other thing to me than a foul and pestilent congregation of vipers.

Purse strings and puppet strings…

But who holds the marionette?

He who cannot be named.

Such brilliance. Such scope.

For 200 years the United States was the light of civilization. Alas, all good things must come to an end.
Don’t forget who brought you Obama after all…


The man who hates the Russians for “getting Communism wrong”.

By: rkillings Fri, 05 Jun 2009 08:44:02 +0000 May I call your attention to the first item in the Definitions section of the Securities Act of 1933:

“1. The term “security” means any note, stock, treasury stock, security future, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a “security”, or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing.”

By: Don the libertarian Democrat Thu, 04 Jun 2009 22:32:08 +0000 At least he called you a journalist. Come to think of it, it does seem better to be called an “idiot x”, than just “an idiot”, which I normally get called.

Also, you’re on his blogroll. That counts for something.

Still, yesterday:

“Flattered? Yes, obvs. But OMGWTF?”

Today, idiot.

By the way, I eat sardines every day, because my health guru, Andrew Weil, has been recommending them for years. I also managed to order some Chocolate Olivers, no thanks to you, mate.

Just for fun, say something asinine about Adam Smith, so we can find out if Gavin Kennedy reads this blog.

By: Manshu Thu, 04 Jun 2009 20:57:45 +0000 Very classy Felix. I dont’ think a lot of people can admit mistakes let alone link to others who point out their mistake.