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"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Thursday, March 27, 2008

Hooray for Rick Santelli

Rick just took out time to explain that the CME raising the margin on corn and soybean futures has nothing to do with credit everything to do with raising the trading limits. Earlier, CNBC mangled the story to a ridiculous degree.

Here is a Wall Street Journal story explaining (correctly) the facts and implications of the rise in corn and soybean margins.


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