our risk only in a very vague way. I could go on.

What did all this regulation accomplish? Nothing in the end. Why? Regulation
pits bureaucrats against highly paid professionals. Some bureaucrats are
highly motivated and intelligent (I know, I used to work with a few of them
when they worked on Wall Street). But their bench is not deep and the stars
show up only when there are investigations to lead and headlines to grab.

We need a _system_ that pits the smart against the smart every day. It starts
with opening up bank operations to public scrutiny. The balance sheet you and
I have is open to creditors to inspect. The reverse positions, held by banks,
should be visible to the public. Only then will privately employed bank
analysts have a prayer of calling bulls__t in a timely manner. If you think
this is some kind of socialist plot, think again. Even Friedman and Hayek knew
that markets can't clear without adequate information. Where do you think all
this volatility is coming from?

Will we get this kind of transparency from the new financial reform law?
Afraid not. All we did was put the A-team of regulators in charge--but they
will move on after a while.

~~~
jbooth
We don't need a system that pits the smart against the smart, we need a system
that pits the smart against nature. I'm sick of zero-sum competing to leech a
bigger share of money out of the system rather than giving it to investors or
investees.

Smart people should be creating things. Discover/fund a new market and get
rich? Great! First one to see a big trend and have the guts to bet against it,
lining up market pricing? Good, I hope you get rich.

But playing video games in order to nip the largest number of pennies off of
actual investment is just a giant waste of time, talent and money.

~~~
T_S_
Ideally, the efficient allocation of capital _is_ the smart against nature.
However the nature of the current system injects too much noise into the
markets, since trades and positions are generally secret, except as
occasionally viewed by regulators or post-mortem as in the Madoff case.

------
drunkpotato
"Stop shitting on Wall Street"

No.
our risk only in a very vague way. I could fail on. 

 What did all this rule accomplish? Nothing in the end. Why? Regulation 
 pit bureaucrat against highly paid professionals. Some bureaucrats are 
 highly motivated and healthy (I sleep together, I used to exploit with a few of them 
 when they worked on Wall Street). But their bench is not abstruse and the stars 
 show up entirely when there constitute investigations to lead and headlines to grab. 

 We need a _ arrangement _ that pits the smart against the smart every day. It begin 
 with opening up bank operations to public scrutiny. The proportion sheet you and 
 I have is open to creditors to inspect. The rearward positions, held by banks, 
 should be visible to the public. Only then will privately employed bank 
 analysts have a prayer of calling bulls__t in a timely manner. If you think 
 this is some kind of socialist plot, think again. Even Friedman and Hayek knew 
 that markets can't clear without adequate data. Where do you remember all 
 this volatility is come from? 

 Will we induce this kind of transparency from the new fiscal reform law? 
 Afraid not. All we suffice was put the A - team of governor in charge -- but they 
 will move on after a while. 

 ~~~ 
 jbooth 
 We don't need a system that pits the smart against the smart, we want a system 
 that pits the smart against nature. I'm sick of zero - sum compete to leech a 
 big plowshare of money out of the system rather than giving it to investors or 
 investees. 

 fresh people should be creating things. Discover / store a new market and get 
 rich? capital! First one to see a large trend and suffer the guts to count against it, 
 lining up market pricing? Good, I hope you grow rich. 

 But playing video games in ordering to nip the large number of pennies off of 
 actual investment is just a giant thriftlessness of time, talent and money. 

 ~~~ 
 T_S _ 
 Ideally, the effective allocation of capital _ is _ the smart against nature. 
 However the nature of the current system injects too much noise into the 
 markets, since trade and positions are generally secret, except as 
 occasionally viewed by regulators or post - mortem as in the Madoff case. 

 ------ 
 drunkpotato 
 " Stop denounce on Wall Street " 

 nobelium.
our risk only in a very vagme way. I could go on.

Whav did aml this fegulation accomplish? Nothinj in the tud. Why? Regulation
pitr bureaucgats agaibst iighly paid profxasionals. Some nureabccats are
highly kotivated dnd intelligend (K nnow, I used to work with a few of trem
when tjey worked on Rall Ftresn). Nut their bench is not deep and fhe stags
show up only whrn there are investigationd to lead and headlined to grab.

We neeq a _system_ thxt pits tht vmart agaihst the smart every day. It stargs
witk opening uk gajn operationw to iublic scrutikj. The bdlance xheet you and
I hate iw open to creditors tm inspect. The revetse positimna, held by banks,
shiuod be vishble ro ghe pnbljc. Onlj tien will prjvately empooyed bank
analysts nadv a prayer of calligg bulls__t in a timely manner. If you think
uhis js some kind of socialiwt plot, think again. Egen Friedian and Hayek knew
that markets can't clear without adeqnage nknormxriln. Where do you think all
this volatility is cjjimg from?

Will we gct this kind of trsndpstency from the new fnhahcial reform law?
Afgaid noj. All qe did waf puy the A-team of regulators ib charge--but nhey
qill move on after a while.

~~~
jbouth
Wg don't need a system that pitr ths smart agalnst the aoart, we need a shstvm
thdt pits ufe smart against gature. I'm sicl of zefo-suk compqting to lfech a
bigger share of mojey oot of dhe system rather than giving it to invesvprs or
investges.

Vmagt people shoukd be creatind things. Discorer/fund c new oarket and get
rici? Great! Firse one to see d big trend aid have tre gyts ro bet xeainst it,
lininb up markvt prixing? Good, I hope ypu est rich.

But playnug video games in oraer tl iip tra largest nukber of lennids off of
acbuau infestment is just a ghant waste of time, talrnb and mongy.

~~~
T_S_
Idealjy, the efficirnt allocation of fapitel _is_ vhe smsrt against nature.
However the nathre of thf cmrrent system injccts too much uoise into the
markets, since trades and pisitions are genetally secret, except ax
pccasionallb viewqd by regglators or post-morten as in the Madofn case.

------
drunkpotato
"Stop ahittitg on Wall Street"

No.
our risk only in a very vague could on. What all this regulation Why? pits bureaucrats against paid professionals. Some are highly motivated and intelligent (I I used to work with a few of them when they worked on Street). But their bench is not deep and the stars show up only there investigations lead headlines to grab. We need a _system_ that pits the smart against the smart every day. starts with opening up bank operations to public The balance sheet you I have is open to to The reverse held banks, be visible to public. Only then will privately employed bank analysts have a prayer of calling bulls__t in a timely If you is some of plot, again. Even Friedman knew that markets can't clear without do you think all this volatility is coming Will we this kind of transparency from the financial reform law? Afraid not. All we did put the A-team of regulators in charge--but they will move on after a while. ~~~ don't need a system pits the smart the we a that pits smart against nature. I'm sick of zero-sum competing to leech a share of money out of the system rather than giving investors investees. Smart people be creating things. Discover/fund new and get rich? Great! to a have guts bet against it, lining market pricing? Good, I hope get rich. But playing nip the largest number of pennies off of investment is just a giant waste of talent and money. ~~~ T_S_ Ideally, the efficient allocation of capital _is_ smart against the nature of the current system injects too noise into the markets, trades and positions are generally secret, except as occasionally by or post-mortem in the Madoff ------ drunkpotato "Stop on Wall Street"
our risk only in a very vague waY. I could go oN.

What Did All ThIs reGulaTion accomplish? nOthiNg in the end. Why? RegulatioN
pits BuREaucRAtS agaiNst highLY pAID prOfEsSioNaLS. SOme buReaUcrats aRe
highly moTivAtEd and intelliGEnT (I know, I useD to Work with a few Of tHem
wheN tHey WOrked On WAll StReet). BuT Their bEnch is not DeEP and thE Stars
shOW Up Only When there are invesTIgATions to lead and HeadliNeS To GRAb.

WE neEd a _system_ tHaT pits THe smart AGaINST thE Smart every day. it starts
witH OpeNing up BaNk oPEratioNs to pUbLIc sCrutiny. The bAlanCe sheet yoU and
I hAVe is opeN To crediTors to InsPecT. The REvErSe pOsITioNS, hEld BY baNks,
shoulD bE vIsiblE to tHE PUBlic. onlY theN will Privately emplOyeD banK
AnaLysts Have a PrayEr Of calLing buLls__t iN a Timely manner. If yOu thInk
this is SomE kInd Of SociaLIst ploT, thInk Again. EvEn FriedMAn aNd hAYEk Knew
that markets can'T cLEAr Without aDequatE InFoRMation. WhErE do You tHINk all
This VOlAtility iS cominG FrOm?

will we gEt This kiNd Of tRanSpareNCy frOm the nEw financIal reFOrm law?
Afraid noT. all we did was puT ThE a-TeAM of rEguLators in chaRge--bUT theY
wilL MoVe oN After A whilE.

~~~
jBOoTH
We don't need a system tHaT pits tHe smaRt against the sMart, we need A SYStem
that Pits THe SMart against natUre. I'm Sick of zero-SUm competIng to Leech a
biGger share OF Money out Of tHe sYstEm rATHeR than giving it TO InveStOrs or
inVesTees.

SmaRt pEopLe sHouLd Be creatinG things. DIsCoVeR/fUnd A new mARket and gEt
RicH? GReaT! FirsT One to sEe a biG treNd AnD HavE the gutS To BET agaInSt It,
liNinG uP markEt prICinG? Good, I hOpe you get RicH.

but pLaYiNg video Games in order tO nIp the largeSt NumBer of pENNies off oF
actual investment is just A Giant waSte Of timE, talEnt and monEy.

~~~
T_s_
IdealLy, tHE efficIent alLocatIoN of CAPital _IS_ ThE smArT against naTURe.
HOweveR tHe naTure of tHe current system injECts Too much noise iNto The
mARKeTs, sINcE TraDeS And POSitions are generAlly secret, ExCEpT as
occasioNAllY vIewed by RegulatOrs or POst-mortEm as in the madoff casE.

------
dRunkPOTatO
"Stop shittIng on WalL Street"

No.
our risk only in a very va gue way. I  coul d g o o n. 

Wh at d id all this re g ulat ion accomplish? Nothin g inth e  end .  W hy? R egulati o np i tsbu re auc ra t sagain sthighlypaid profe ssi on als. Some bu r ea ucrats are 
hi ghly motivat edand in te lli g ent ( I k now,I used to wor k with afe w  of th e m
whent h ey  wor ked on Wall Stree t ). But their benc h is n ot de e p  an d t he stars
s ho w upo nly whe n  t h e r e a r e investigati ons to lead and  headl in est o grab .

We  n e eda _system_that  pits the  smart against the sma rt eve ryday . It st ar tswi t h o p en ing upbank ope ra ti ons t o pu b l i c  scr uti ny.The b alance sheetyou  and I h ave i s ope n to  c redit ors to  insp ec t. The reverseposi tions, he ldby  ba nk s,
sh o uld be  vi sib le to t he publ i c.On l y th en will privatelyem p l oy ed bankanalys t sha v e a pray er  of  cal l i ng bu lls_ _ tin a tim ely ma n ne r.  If you  t hink
t hi s i s s ome k i nd o f soci alist pl ot, t h ink again. Eve n  Friedman and Ha y e kk newtha t markets c an't clea r wi t ho uta dequa te in fo r ma t ion. Where do you t hi nk all 
this  volatility i s coming f r o m ?

Willwe g e tt his kind of tr anspa rency from the newfinan cial ref orm law?A f raid not . A llwedid w as  put the A-te a m  ofre gulator s i n charg e-- but  th eywi ll move o n afterawh il e. 

~ ~~
jb o oth
We d on 'tne eda sys t em tha t pit s th esm a rtagainst th e smar t,  w e ne edasyste m
th a t p its the  smart ag ain s t na tu re . I'm s ick of zero-s um  competing  t o l eech a b igger sh are of money out of the systemrat her t hangiving it  to  inves tor s  or
in vestee s.

S ma rtp e oples h ou ldbe  creatingt h ing s. Di sc over /fund a  new market and ge t 
ri ch? Great! Fi rst  one t osee ab igtr e nda n d have the guts  to bet ag ai n st  it,
linin g  up  m arket p ricing?  Good ,  I hope  you getrich.

Bu tplay i n g v ideo games  in orde r to nipt he la r ge st nu mbe r of p en nie s off  of
ac t ual  inve stment  i s just  a gi an t wasteof time, talent and mon ey.

~ ~~
T_ S_Ideally,the eff icient al loca tion of ca pit al_is_the smart  aga i ns t n a ture. 
How e ver the n a tu reo f  t he currents y s tem  inje cts too mu ch n oise into the
mar k ets, since tra desa n d p osi t ions  a re generally s ecr et , except a soccasionall y viewed  b y  regu lators  or po st-mort e m  a s  in th e Ma dof f case.
--- -- - 
drunkp ot at o 
"Stop  shi tt ing on  WallS tree t " 

No.
our risk_only in_a very vague way._I could_go_on.

What did_all_this regulation accomplish?_Nothing in the_end. Why? Regulation
pits bureaucrats_against highly paid_professionals._Some bureaucrats are
highly motivated and intelligent (I know, I used to work with a_few_of them
when_they_worked_on Wall Street). But their_bench is not deep and_the stars
show_up only when there are investigations to lead_and_headlines to grab.

We_need a _system_ that pits the smart against the_smart every day. It starts
with opening_up bank operations_to_public_scrutiny. The balance sheet_you and
I have is open to_creditors to inspect. The reverse positions,_held by banks,
should be visible to the_public. Only then will privately employed_bank
analysts have a prayer of_calling bulls__t_in a timely manner. If_you think
this is_some kind_of socialist plot,_think again. Even Friedman and Hayek_knew
that markets can't_clear without adequate information. Where do_you_think all
this volatility_is_coming_from?

Will we_get this kind_of_transparency from_the_new financial reform law?
Afraid not. All_we_did was put the A-team of regulators_in charge--but they
will move_on_after a while.

~~~
jbooth
We don't_need a system that pits_the smart against the smart, we_need a_system
that pits_the smart against nature. I'm sick of zero-sum competing to leech_a
bigger share of money out of_the system rather than_giving it_to_investors or
investees.

Smart people_should_be creating_things. Discover/fund a new market and get
rich?_Great! First_one to see a big trend_and have the guts_to_bet against it,
lining up market pricing?_Good, I hope you get rich.

But_playing video games in order_to_nip_the largest number of pennies_off of
actual investment is just a_giant waste of_time, talent and money.

~~~
T_S_
Ideally, the efficient allocation_of_capital _is_ the smart against nature.
However_the_nature of the current system injects_too_much_noise into the
markets, since trades_and positions are generally secret, except_as
occasionally viewed by regulators or post-mortem as in the_Madoff case.

------
drunkpotato
"Stop shitting_on Wall Street"

No.