“Viewpoint” host Eliot Spitzer and Bethany McLean, Vanity Fair contributing editor, examine huge and controversial bets in credit derivatives that Bruno Iksil, a single trader for JPMorgan Chase, has made, which cleverly skirt regulations meant to prevent such speculative risk-taking. Says McLean: “I think it shows you that where there’s a will there’s a way and unfortunately Wall Street has a will to subvert regulators’, or rather, Congress’ best intentions with the Volcker Rule. Seriously, this proves that what we need is some sort of radical reform, not these half attempts to restrain behavior.”
