The market place for centuries was a public place. A common ground which shops and shoppers travelled to and thru. A place not owned by any one, but rather owned by either, the Royal or the Lord, that is by no one directly engaged in its direction.

With the American LL we find that the Mall is privately built, that stocks exist within a walled street. To participate in this “stock exchange” of free capitalism, you must be a member of the exchange club. The free market made private. Membership has its privileged.

During research on LTCM discovered greater clarity … for the file of MORORLESS.ref.

In short, Enron makes Long-Term Capital Management look like a lemonade stand. It will surprise many investors to learn that Enron was, at its core, a derivatives trading firm. Nothing made this more clear than the layout of Enron’s extravagant new building —

We have to excuse these poor quants. They’re better at scrubbing data, than describing or defining… anything.