You think, hey, give the less flexible folks to our customers. We will save the more flexible for ourselves.
Did Mr. Paulson or Paulson & Company come in wanting to go short?
during most of 2007, we maintained a net short sub-prime position and therefore stood to benefit from declining prices i...
You ought to have plenty of regrets. I do not think that you are willing to acknowledge them, but you ought to have them...
Your salesperson believed it was junk.
They think you are fiduciaries, and then...
Do you think that a customer has a right to believe that you want that security to succeed?
It could have been more accurate.
The percentage of contribution to the firm-wide VaR was shown in that exhibit at 53.8 percent for mortgage structured pr...
We are going to stand adjourned for 10 minutes because we have a vote on.
I think it is a very clear conflict of interest and I think we have got to deal with it.
I do have a problem with taking a short position on a security that you are selling to your customer.
Well, all year, they were over your permanent limit. They were hugely over it.
This is much more than a market maker. You are keeping a proprietary interest in a position that is exactly the opposite...
What do you think about selling securities which your own people think are crap? Does that bother you?
We have to do a better job of striking the balance between what an informed client believes is important to his or her i...
My problem comes particularly where you are selling a security to someone... and at the same time, you are betting again...
And where you take a short position, do you think that should be disclosed? Where you are betting against that same secu...
