I’ve got a new column in this week’s Las Vegas Business Press:
Nor is this kind of chicanery limited to poker. MF Global was, until last November, a large global financial derivatives dealer, making its money on its traders abilities to correctly speculate on the upward and downward movement of prices for bonds, commodities, and currencies. Risky, yes, but, as with Full Tilt, these guys were supposed to know what they were doing.
Even though online poker’s had some issues, it’s nothing compared to the messes we’ve seen in financial services industries.