When the lights are flipped on, tradition has it that the cockroaches that feast on the night quickly scurry for the darkness. Those of us from more Caribbean climates know that the really big Palmetto bugs often keep going on about their roachy business as if light and dark mean nothing to them. But you have to expect that in languid, humid air better suited for piracy and general disregard for “authority”.
Exactly what climate does the financial world operate in? We may soon find out. But there are many reasons to believe JP Morgan, the investment bank, already operates more like Captain Morgan, the pirate. And they are apparently far from alone.
Just as the Commodity Futures Trading Commission (CFTC) is working to flip the switch, a survey has come out suggesting that it may well not make much immediate difference. Then again, it does help to know that what you have are, in fact, roaches.