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Dog-faced pony soldier
Join Date: Feb 2004
Location: A Rock Surrounded by a Whole lot of Water
Posts: 34,187
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Great summary John - that's exactly my understanding of this too.
The issue is one of full disclosure to clients, rather than simply hedging ones position. Everyone knew the housing market was going to implode sooner or later, it was perfectly logical to be taking straddle positions - but these absolutely should have been disclosed as a matter of ethics and proper protocol.
And +1 to the comments re: CNN, MSNBC, Faux News, etc. Pure entertainment to sell Viagra ads. Little or no content.
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A car, a 911, a motorbike and a few surfboards
Black Cars Matter
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