Has anybody -- ANYBODY -- looked into the specific details of who is making money off of these huge 'losses' ? Where the money is going and who are the specific beneficiaries of the cash ?
I'd be REALLY interested in knowing how the money is moving around here. And what CXs actual holdings are and position is.
These aren't stupid people and I have some difficulty believing they would continue to make huge blunders in an area of specialty they've been trained. To me it might be akin to having Steve Fossett continuing to land gear up and collect the insurance on the airplanes he had scraped up. Not sure in that hypothetical case if it is a string of mistakes or a deliberate act.
I have no personal idea of whether this is a huge cock up or a deliberate transference of capital. It would be nice to know.