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An Ex-LTCM Trader Will Be Overseeing $70 Trillion In Derivatives

Tyler Durden's picture


We wish to welcome former LTCM trader, and current TBAC chairman, Matt Zames to his new post as head of the world's biggest, government backstopped prop trading desk, with a hearty and sincere "good luck." Because an ex-LTCMer in charge of ~$70 trillion in derivatives? Why, what can possibly go wrong...

Well, maybe this?

Finally, we urge readers to go easy on the JPM HR department: obviously all the JT Marlin traders were currently gainfully employed elsewhere and unable to step in and fill Ina Drew's very big shoes.


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Mon, 05/14/2012 - 09:57 | 2423446 kato
kato's picture

You are joking...?

Mon, 05/14/2012 - 09:56 | 2423455 fightthepower
fightthepower's picture

Fuck You Bernanke!

Mon, 05/14/2012 - 10:03 | 2423487 hedgeless_horseman
hedgeless_horseman's picture



Matt is due.

Mon, 05/14/2012 - 10:07 | 2423502 WonderDawg
WonderDawg's picture

I guess once you know the secret handshake, you're in the club for life.

Mon, 05/14/2012 - 10:15 | 2423541 Manthong
Manthong's picture

So who still says zombies do not exist?

Mon, 05/14/2012 - 10:20 | 2423563 Rainman
Rainman's picture

That's why the mob's rule #1 is to trace your Sicilian roots on both sides. 

Mon, 05/14/2012 - 10:38 | 2423633 francis_sawyer
francis_sawyer's picture

What could 'possibly' go wrong?

Mon, 05/14/2012 - 11:48 | 2423900 Elwood P Suggins
Elwood P Suggins's picture

I guess once you learn to give the secret blowjob, you're in the club for life.


Now its fixed.


Mon, 05/14/2012 - 12:59 | 2424182 WonderDawg
WonderDawg's picture

Speak for yourself, chief. My posts don't need fixing.

Mon, 05/14/2012 - 10:08 | 2423511 Stoploss
Stoploss's picture

I don't think we have enough ass left to take this one.

Mon, 05/14/2012 - 10:18 | 2423552 The Big Ching-aso
The Big Ching-aso's picture



He must know where all the bodies are buried.  Can't wait to see the skeleton crew he puts together.

Mon, 05/14/2012 - 10:27 | 2423600 CPL
CPL's picture

He's about as qualified as they come.


I don't think anyone stopped to notice his health problems that are more than a little concerning.

Mon, 05/14/2012 - 11:22 | 2423767 Pure Evil
Pure Evil's picture

Hey, does anyone know Matt Zames email address, I'd like to send him my resume and apply for a job on his prop-desk.

I mean, after the Clinton-Bush-Obama menage a trois, even I the great evil one has lost all scrupples.

Mon, 05/14/2012 - 12:37 | 2424095 CPL
CPL's picture

His real email address that skips the army of personal assistants and his Black Berry PIN?


It can be arranged, I'm sure it's in his medical form somewhere.  

Install TOR

Go to HiddenWiki


He's been on the Anon watchlists for a long time...a lot of personal habits of his have been recorded as well thanks in part to the Kami Anons.

Mon, 05/14/2012 - 10:28 | 2423599 Grinder74
Grinder74's picture

Ask Moochelle.  She should have some to spare since Oblumber has "come out".

Mon, 05/14/2012 - 10:38 | 2423630 indygo55
indygo55's picture

He doesn't know it yet but he is the next guy in line for the guillitine.

Mon, 05/14/2012 - 10:00 | 2423468 GetZeeGold
GetZeeGold's picture



Don't worry.....they've got all the kinks worked out now.


Mon, 05/14/2012 - 10:04 | 2423491 The Big Ching-aso
The Big Ching-aso's picture



I am concerned that derivative production will accerlerate destruction of the whirled.



Mon, 05/14/2012 - 10:15 | 2423527 GetZeeGold
GetZeeGold's picture



We've got the perfect way to play this scenario here at J.T. Marlin.


Contact our friendly staff to setup a meeting. Your parking will of course be validated.


Mon, 05/14/2012 - 10:15 | 2423537 sumo
sumo's picture

Yep, all the bugs have been resolved.

So, logically, this time is different.


Mon, 05/14/2012 - 11:23 | 2423605 The Big Ching-aso
The Big Ching-aso's picture



This guy must have connections with the underworld because hell is about to break loose.

Mon, 05/14/2012 - 12:12 | 2424017 Oh regional Indian
Oh regional Indian's picture

Man on a roll....


Mon, 05/14/2012 - 10:17 | 2423542 Widowmaker
Widowmaker's picture

Without the fraud fed there are no buyers. Take today for example, green close to buffer European racket.

Mon, 05/14/2012 - 10:37 | 2423623 The Big Ching-aso
The Big Ching-aso's picture



I keep telling myself you can't make this shit up and then another dog takes a dump on the lawn.

Mon, 05/14/2012 - 15:28 | 2423661 pkea
pkea's picture


Mon, 05/14/2012 - 09:56 | 2423456 schoolsout
schoolsout's picture

What?  It's only paper...

Mon, 05/14/2012 - 10:01 | 2423484 Ruffcut
Ruffcut's picture

Not even paper, but electronic ponzi.

Charles would love the digi age.

Mon, 05/14/2012 - 10:45 | 2423647 SunnyDD
SunnyDD's picture

hehehe, not de zombies again..

Mon, 05/14/2012 - 10:52 | 2423653 pkea
pkea's picture

the liquefying man for the job ( who else can put hands on the people's money with more ease?)  i mean where are the DAs. pure corruption

Mon, 05/14/2012 - 15:47 | 2424717 ToNYC
ToNYC's picture

Martingale works with ZIRP for the Fed, not so fast Jake Dimon and MF Corzine. Use that paper up with vigor my lad, JFK is long gone, your last friend.

Mon, 05/14/2012 - 09:56 | 2423450 Aziz
Aziz's picture

Jesus Tyler.

Don't JPM read Zero Hedge?

Don't they realise picking up nickels in front of a steamroller is a fast and easy way to lose all your money? 

Mon, 05/14/2012 - 09:59 | 2423460 GeneMarchbanks
GeneMarchbanks's picture

It's scientific finance, what could possibly go wrong?

Mon, 05/14/2012 - 10:00 | 2423473 Aziz
Aziz's picture

I think the great danger is that it's mathematical finance, where perfect-world models that ignore hidden variables get broken up against the rocks of reality. The science (i.e. the data) says that it is a quick way to go broke, and all the fucking LTCM mathemagicians (they can make your money disappear) should know this better than anyone (except they don't).

Mon, 05/14/2012 - 10:18 | 2423548 Dapper Dan
Dapper Dan's picture

They did not watch this video of Benoit Mandelbrot explaining why he thinks the global economy is in dire straits.



Privatized profit - socialized risk.

If I make money, it's MINE. If? I lose money, it's OURS.

Banking and insurance are screwing us in ways we can't even fathom.

We pay them for 'essential services' that we MUST have by law, yet when the house of cards they construct collapses, they run to the government (that they condemn for overregulation) for assistance like bunch of whining brats with empty bottles and full diapers.

They screw the pooch, and we pay the child support.

Insert cliche here

Mon, 05/14/2012 - 10:17 | 2423550 Widowmaker
Widowmaker's picture

Science is never a defense for fraud.

Shame on you.

Mon, 05/14/2012 - 10:43 | 2423638 Killtruck
Killtruck's picture

Please send that gem over to NIST regarding their 9/11 investigation.

Mon, 05/14/2012 - 09:57 | 2423451 bania
bania's picture

He's learned from his mistakes.

Mon, 05/14/2012 - 09:57 | 2423452 Roland99
Roland99's picture

Repeating history, bitchez!

Mon, 05/14/2012 - 09:56 | 2423453 SilverTree
SilverTree's picture

The Blackest of the Black Swans.

Mon, 05/14/2012 - 10:01 | 2423485 LongSoupLine
LongSoupLine's picture

Yep...the Blackhole Swan. When it emerges, it sucks all fiat into its pull.

Mon, 05/14/2012 - 10:08 | 2423509 SilverTree
SilverTree's picture

~Blackhole Swan, won't you come, and wash away the rain.

Mon, 05/14/2012 - 11:12 | 2423710 Bring the Gold
Bring the Gold's picture

"Hang my head...drown my fears...til all the fiat just disaaaapppeeearsssss Blackhole Swan won't you come, wooon't you come."


Love it Silvertree genius! WB7 worthy material.

Mon, 05/14/2012 - 09:57 | 2423454 GeneMarchbanks
GeneMarchbanks's picture


Ah, the irony is rich with this one.

Mon, 05/14/2012 - 10:09 | 2423517 Ratscam
Ratscam's picture

i prefer the motivational speech of Baldwin in Glengarry Glenross

Mon, 05/14/2012 - 10:16 | 2423532 tocointhephrase
tocointhephrase's picture

ABC Bitchez

Mon, 05/14/2012 - 10:17 | 2423553 odatruf
odatruf's picture

Sure wish we'd get a nice set of steak knives for our troubles...

Mon, 05/14/2012 - 09:57 | 2423459 Zero Debt
Zero Debt's picture

This will end well.

Mon, 05/14/2012 - 09:59 | 2423463 dwdollar
dwdollar's picture

Everyone lube up and get ready to bend over.

Mon, 05/14/2012 - 10:00 | 2423465 CClarity
CClarity's picture

Yep sure.  Let them regulate themselves.  They never repeat those mistakes.  /sarc off

A manipulated and medicated market cannot self correct until it sobers up.  No one sending it to rehab though.

Mon, 05/14/2012 - 09:59 | 2423466 Lone Deranger
Lone Deranger's picture

Going long on survival food buckets at Costco

Mon, 05/14/2012 - 10:01 | 2423470 LongSoupLine
LongSoupLine's picture

How much ya wanna bet he shows up to his first day in the big CIO seat wearing his "I Heart Geithner" lapel pin?

Mon, 05/14/2012 - 10:01 | 2423471 ziggy59
ziggy59's picture

It's like making a player with a 0 average, MVP...

It's Bizarro World

Mon, 05/14/2012 - 10:01 | 2423472 JohnKozac
JohnKozac's picture

I feel better now.

Mon, 05/14/2012 - 10:02 | 2423476 Temporalist
Temporalist's picture

That looks like the chart of a depth finder for the Mariana Trench.

Mon, 05/14/2012 - 10:00 | 2423477 DutchDude
DutchDude's picture

as long as numbers can be intered in a central banks computer terminal, there wil be dice rolled... it's not like it's real money or anything; just keep raising the stakes, eventually it'll pay out...right?...

Ow and screw you Ben and Mario... you die, you go to hell and die...

Mon, 05/14/2012 - 10:00 | 2423478 fuu
fuu's picture

The circle jerked faster while the flames went higher.

Mon, 05/14/2012 - 10:02 | 2423479 orangegeek
orangegeek's picture

Going long in this market.  Should be interesting.


Primary elliott wave count is wave 3 down.

Mon, 05/14/2012 - 10:01 | 2423486 ArrestBobRubin
ArrestBobRubin's picture

See I heard it was PeeWee Herman who got the nod...

Mon, 05/14/2012 - 10:07 | 2423501 midgetrannyporn
midgetrannyporn's picture

I'm NOT sorry I took the money! Muaah!

Mon, 05/14/2012 - 10:02 | 2423489 Kaiser Sousa
Kaiser Sousa's picture

Yet another example of how "they could give a fuck about what we think or say"....
Until these fucking sociopaths meet bullets n their heads nothing will change GOD DAMMIT.......

Mon, 05/14/2012 - 10:05 | 2423490 LarryDavis
LarryDavis's picture


This from CNBC........ Doom and gloom are everywhere at the moment.Greece, aslowdown in China, and fears over the U.S. economy are rampant, but an analyst who is hardly one of the market’s great optimists is predicting the Dow Jones Industrial Average could hit 100,000.


Mon, 05/14/2012 - 10:03 | 2423492 youngman
youngman's picture

I bet a lot of banks are searching for Government employees to make the move...they have all the contacts..insider know.....the good stuff...and since noone is going to jail anymore....its full cheat speed ahead....

Mon, 05/14/2012 - 10:05 | 2423497 realtick
realtick's picture

It's not fascism - it's farcism.

Mon, 05/14/2012 - 10:04 | 2423498 kralizec
kralizec's picture

The stupid, it burns!

Mon, 05/14/2012 - 10:06 | 2423499 jjsilver
jjsilver's picture
IMF to buy Gold worth $2.3 billion as credit risk increases$23-billion-as-credit-risk-increases-48052-3-48053.html


Mon, 05/14/2012 - 10:16 | 2423540 GetZeeGold
GetZeeGold's picture



I thought the IMF was only allowed to sell gold?


Mon, 05/14/2012 - 10:46 | 2423650 TheGardener
TheGardener's picture

"I thought the IMF was only allowed to sell gold?"

Just ownership transfer from dispossessed nations.

Where real positions of 'hundreds of times the underlying
physical' are just swapped casually to masquerade the derivatives thereof, low frequency trading will still do.

Mon, 05/14/2012 - 10:22 | 2423564 PaperBear
PaperBear's picture

Yep, everybody is getting gold now.

This is bearish for gold, isn’t it ?

Hell no.

Mon, 05/14/2012 - 10:22 | 2423580 GetZeeGold
GetZeeGold's picture



The pygmies in Africa the IMF sold the 500 tonnes for must be out of danger.


Mon, 05/14/2012 - 10:05 | 2423500 orca
orca's picture

Priceless. Each time I think it is inconceivable a more moronic decision will be made it ís made. By comparison, this makes Saddam's minister for information positively look sane.

Mon, 05/14/2012 - 10:06 | 2423504 midgetrannyporn
midgetrannyporn's picture

Same thinking that put Pandit in charge at C.

Mon, 05/14/2012 - 10:09 | 2423507 Catullus
Catullus's picture

No doubt he's the most experienced for the job.

Feeling like entire Interest Rate Swap market is gigantic farse. Like the morgue and the Fed will always take on the counterparty risk to make sure anyone holding on to Treasuries can liquidate them at any time.

Beginning to wonder why someone wouldn't leverage themselves up to their eyeballs and buy the IRS to cover the downside.

Mon, 05/14/2012 - 10:12 | 2423520 JohnKozac
JohnKozac's picture

Buffett gave Dimon a shout out in his latest annual letter to Berkshire Hathaway shareholders, which was released in February. On the matter of share buybacks:

One CEO who always stresses the price/value factor in repurchase decisions is Jamie Dimon at J.P. Morgan; I recommend that you read his annual letter.

Days after Buffett's letter came out, the Oracle of Omaha was on CNBC to give Dimon even more praise.  "I think Jamie Dimon writes the best annual letter in corporate America," said Buffett.  "Every viewer will learn a lot by reading his annual report. He thinks well and he writes extremely well and he works a lot on his report. He told me that."

Read more:
Mon, 05/14/2012 - 10:17 | 2423544 Quinvarius
Quinvarius's picture

Ever seen the Human centipede?  These guys love each other's bull shit.

Mon, 05/14/2012 - 10:26 | 2423587 Centurion9.41
Centurion9.41's picture

Perfect imagery.

B7, if you are reading I believe it could become a magnum opus for you ala Maplethorp.

Mon, 05/14/2012 - 11:18 | 2423755 Bring the Gold
Bring the Gold's picture

So spot on and yet I have ZERO desire to see that mental imagery become actual imagery. *puke*

Mon, 05/14/2012 - 10:12 | 2423523 PaperBear
PaperBear's picture

Failing upwards I see.

Mon, 05/14/2012 - 10:13 | 2423526 Motorhead
Motorhead's picture

JPM with over $70 trillion in derivatives, over four times the GDP of the US.  It's no wonder Reggie Middleton calls JPM a "sovereign entity".  In any event, this is simply grotesque.

Mon, 05/14/2012 - 11:04 | 2423702 TheGardener
TheGardener's picture

Bear Stearns and Lehman were big names too before they got sacrificed. Could it be, that all the US would have to tell the unfortunate holders of their former debt that some evil big private bank failure is to blame ? JPM music stops all deck chairs gone ?

Mon, 05/14/2012 - 11:20 | 2423765 Bring the Gold
Bring the Gold's picture

In the name of the plan (eg BIS one bank/currency to rule them all) everything and everyone can be sacrificed. The bigger the names held "accountable" and liquidated, the more convincing the shadow play for the proles in Plato's Cave. JPM, Goldman even the FED can be shit canned for the NWO's world system 2.0 to be put into place.

Mon, 05/14/2012 - 12:23 | 2424059 Nobody For President
Nobody For President's picture

+1 for 'grotesque'

Mon, 05/14/2012 - 10:13 | 2423528 asteroids
asteroids's picture

How the hell can you manage $70T? If it "unexpectedly" moves one way or another, it'll be like a force of nature. Your best bet is to leave the planet WHEN not IF it you lose control.

Mon, 05/14/2012 - 11:27 | 2423805 TheGardener
TheGardener's picture

"it'll be like a force of nature"

Polytheism explained those forces with competing gods without any blame passed around because all gods were strong and unforgiving in their own way.

We have evolved and today god-like bankers will do.

Mon, 05/14/2012 - 10:14 | 2423535 Quinvarius
Quinvarius's picture

That dude is probably really good at getting bailouts by now.  Very experienced in rolling over failure to the government.

Mon, 05/14/2012 - 10:20 | 2423570 sumo
sumo's picture

Yep. And if anything goes wrong (surely not!), and he has to leave the country, quickish-like, he can make a donation to ... oh I don't know ... the Brown Clown's presidential library. In return for a presidential pardon.

Marc Rich can tell him how it works.


Mon, 05/14/2012 - 10:16 | 2423539 GrinandBearit
GrinandBearit's picture

Wash, rinse and repeat.  

It never seems to end, does it.

Mon, 05/14/2012 - 10:16 | 2423543 Stackers
Stackers's picture

Geez, come on guys how times do you have to be told it's all bilateral netted out.

Mon, 05/14/2012 - 10:25 | 2423582 sumo
sumo's picture

That's right. As long as your counterparties are TBTF, net never becomes gross. You can bank on it.

Mon, 05/14/2012 - 10:18 | 2423551 Flying Wombat
Flying Wombat's picture

Bloomberg TV just ran a profile of Matt Zames.  While they did note that he was a trader with LTCM, they managed to leave out the detail that he's the current TBAC Chairman.  They say he has a "maniacal" attention to detail.  How nice...

Mon, 05/14/2012 - 10:19 | 2423554 Bay of Pigs
Bay of Pigs's picture

Ina Drews big shoes? More like big underwear. Depends that is.

Mon, 05/14/2012 - 10:18 | 2423557 Zola
Zola's picture

Wow that LTCM line looks really epic...

Mon, 05/14/2012 - 10:48 | 2423567 wang (not verified)
wang's picture

A new federal bankruptcy court filing on Thursday showed that three current members of JPMorgan Chase’s executive committee had discussed, as early as June 2007, the possibility that Bernard L. Madoff was running a Ponzi scheme — as, indeed, he was — but (Matthew E Zames) took no action to protect investors or alert regulators.


The investment by the banks is a bet that they can turn the Jersey City, New Jersey-based TradeWeb into a dominant player in derivatives trading. ``We will continue to see growth in securities, but the largest growth area will be in derivatives,'' Zames, based in New York, said in an interview. ``We're open to expanding into almost any product.''

Mon, 05/14/2012 - 10:21 | 2423569 junkyardjack
junkyardjack's picture

Well LTCM was able to unwind without destroying the world, maybe that's why he's there...

Mon, 05/14/2012 - 11:24 | 2423778 Bring the Gold
Bring the Gold's picture

Yeah what kind of money was LTCM playing with that very nearly tanked the world? 1/100th JPM's derivitive position 1/1000th?

Mon, 05/14/2012 - 10:22 | 2423571 geno-econ
geno-econ's picture

FLASH------JP Morgan Chase announces it will relocate CIO Risk Management Operation from London to Las Vegas in order to provide a better environment for derivatives risk assesment. Majority leader Reid calls decision brilliant as does Bernanke and Barney Frank.  

Mon, 05/14/2012 - 10:21 | 2423572 HD
HD's picture

Big deal. It's only one years worth of global GPD and 10% of the entire derivatives market. Now if it were 11%, now then I'd worry...

Mon, 05/14/2012 - 10:28 | 2423573 Zero Govt
Zero Govt's picture

" his new post as head of the world's biggest, government backstopped prop trading desk.."

just gotta love the free market policies of the Fed

Krugman must be wishing socialism had a look-in in banking as it's done so well with US housing, healthcare and education

Mon, 05/14/2012 - 10:25 | 2423583 Vince Clortho
Vince Clortho's picture

In another move, George Costanza will take over Jamie Dimon's position.

Mon, 05/14/2012 - 10:30 | 2423610 Zero Govt
Zero Govt's picture

what at the Fed ?

..or his post at JP Morgan??

..interchaneable these guys, loads of talent, like the revolving doors between regulators and banking which has done such a brilliant job cleaning up the slime

Mon, 05/14/2012 - 10:52 | 2423673 HD
HD's picture


Mon, 05/14/2012 - 10:27 | 2423590 BalanceOrBust
BalanceOrBust's picture

$70 Trillion in derivatives against $1.8T in assets?  No problem, because it is all hedged.  Somebody took care of that.  Unless she is no longer with the firm... uh... okay... the new guy has it covered.

Mon, 05/14/2012 - 10:34 | 2423619 Downtoolong
Downtoolong's picture

$70 Trillion in derivatives is too much  for any one company to be managing, let alone one division or one sane and rational person. I'm not even sure God would take on that responsibility. So, what options does that really leave us to fill this role?


Mon, 05/14/2012 - 10:41 | 2423636 printmoremoney
printmoremoney's picture

GS $44T vs $103B of assets. Those boys know how to get some leverage on, dude. With BBernake's balls in the vice, nothing to stop them. If Ben had a spine, he would have unwound them in 2008, burned at the stack, and then be worshipped in the history books as the Great Ben who saved the world. Not many men left on the planet who will fall on their sword anymore. That is evident. So, these great minds chase endless money as the make money worthless. Just like Fukushima. What good is money if the Planet you live on is Toxic?  Humans are pathalogical. It has taken me awhile to accept it. If you watch a pack of Hyena tear apart an antelope kill after they have cooperated in its killing it, snarling at each other the whole time they devour it, you understand the Hyenas today wear Gucci suits and charm you to death. They are simply living out their DNA, until their is nothing to hunt, or a larger predator shows up and puts them in their place. 

Mon, 05/14/2012 - 10:47 | 2423655 firstdivision
firstdivision's picture

Can we put John Meriwether in charge of the Treasury?

Mon, 05/14/2012 - 10:50 | 2423671 mademesmile
mademesmile's picture

When the word " trillion " is used, I translate it to one million, million. Makes it easier to grasp the reality behind what the number stands for. Most people seem to think a trillion is just a really big number and have no context in which to put it.

Mon, 05/14/2012 - 11:26 | 2423801 Bring the Gold
Bring the Gold's picture

Here's a great visual on the amount of money the banks are playing with:

Mon, 05/14/2012 - 11:03 | 2423705 yogibear
yogibear's picture

All we need is 10's of trillions of derivatives to blow up for icing on this pile of dung.

Mon, 05/14/2012 - 11:14 | 2423741 AGuy
AGuy's picture

Makes perfect Sense. If its OK for someone to build Titantic II, its only logical that some rebuild LTCM II!


Coming to an economy near you "LTCM II". See Quants make complex trading systems that no one else can understand (and the quants don't even understand) run the economy! See the economy go down in Flames. Oh wait this isn't a movie, Its really going to happen!

Mon, 05/14/2012 - 11:15 | 2423746 overmedicatedun...
overmedicatedundersexed's picture

dealing in illusion, fake money turned to  digital 0s1s..cds, are the outcome of the no basis in reality  for the illusion called the FRN..all those at the top know to keep the illusion going one more week one more month one more year.

would not be surpised to see them come up with  century bonds roll over EU and USA debt and get super CDS's on it. the game will never end, LTCM nobel winning scammers did they ever really feel the pain of the collapse?

kill the FRN and all the worlds banks implode along with many governments..

real money is death to the finance is the only tool to keep the ball in the air. the biggest hoax continues to generate these obsurd financial instruments and the evil pig men who pursue them. convincing the common man to give them physical objects for this worthless paper nothing for true wealth and most fall for it.

Mon, 05/14/2012 - 11:16 | 2423751 slackrabbit
slackrabbit's picture

"An Ex-LTCM Trader Will Be Overseeing $70 Trillion In Derivatives"


I feel better already!!!


(keep on stacking bros...)

Mon, 05/14/2012 - 12:32 | 2424079 YesWeKahn
YesWeKahn's picture

JPM can have so much exposure to Derivatives because it owns the FED. Bernanke is their prostitute.

Mon, 05/14/2012 - 12:34 | 2424086 Nobody For President
Nobody For President's picture

This LTCM trader becomes headline seen a bit earlier today drove me sane - I ordered up more silver.

Mon, 05/14/2012 - 13:04 | 2424196 Convolved Man
Convolved Man's picture

Hello, Ben?

Yeah, I know about the "Save the Whale" pic.  Ha. Ha.

Listen.  I have a new guy over at CIO, and he's wondering if you want this toxic shit in crates or drums.

Now, I have to be honest with you.  This stuff really stinks.  So you might want to go with drums, but it's your call.

Stuff it?

Oh, stuff it in bags.  Sure we can do that.

Allright, then.  Before I let you go, let me just say...






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