Values?

L: 8% S:52% G: 60% N: -43% ~ $D -32% $G 23% $V 0% $P 5%

Hilarious that Crash Grodon is going to be given a lecture on values at St. Paul's Cathedral, perhaps he was inspired by this lecture he recentley received? http://www.youtube.com/watch?v=94lW6Y4tBXs&eurl=http%3A%2F%2Ftimesnews%2Etypepad%2Ecom%2Fnews%2F2009%2F03%2Fdaniel%2Dhannan%2Dthe%2Damericans%2Djust%2Dlove%2Dhim%2Ehtml&feature=player_embedded
Perhaps nobody told GB that April fool's day is tomorrow? They certainley didn't Sarkozy, threatening to walk out of the summit if he didn't get what he wanted? what next, is he going to stamp his feet and cry if he doesn't get to talk force?
The Raven is also shocked at how much public support there is for increased hedge fund regulation, while he understands that this is guided by those bright and well informed politicians it should at least raise the eyebrow of public. How many hedgefunds have had to have government funding? insurance? equity investment? ahem. It is then somewhat incongruous that upon noticing that the part of the system with the least regulation survived the best and we would wish to extend regulation into that section and hold it somehow responsible?

The Raven closed his HSBC short. Increased his gamma by a smidge and remains cautiously short. It is quarter end today and year end for some Japanese banks so it might be an interesting afternoon trading.