FX: Cowboys and CDOs

There used to be a time when FX was looked down on as an industry. As I’ve written before, I don’t think there is any other self-regulated financial market that is as clean as FX.

Sure, it has its problems and the odd sharp practice does occur, but the cowboys seem to have been attracted to other markets, as this video clip shows. The song, apparently by Nashville singer Merle Hazard, is set to the music of D-I-V-O-R-C-E.

According to USA Today, Hazard is the alter ego of Jon Shayne, which sounds just a bit too much like John Wayne to me. Apparently, Shayne runs Nashville investment advisory firm Shayne & Co.

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