So, QE3? Sheesh. See The Daily Ticker (about 3:30 into the video). How many Americans are pointing fingers at the Greeks?
Leveraging: something from nothing, folks. The eternal, fruitless wish. Oh yes, it can work when there is a cadre of suckers to exploit (like, out-housing).
Where is the 'mature' capitalism being developed? We'll have to get back to exploring the real basis so overlooked in the interest of the best-and-brightest.
06/01/2011 -- In the writeup accompanying the above video, there is a brief discussion of 30-1 leverage giving people some pause. Only idiots ran after that as a good idea. Big Ben has, in his books, a leverage of 51-1. Very smart, big guy. In the trashy tranche post, I used an example of $7 find $93 so that we could have $100. Big Ben's status is $2 finding $98 (whatever, it's absurd to any but the mind of the best-and-brightest).