Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Tuesday, September 30, 2008

mark to market

The problem with passing mark to market is it doesn't free liquidity and I'm fairly sure that is what Japan did....

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