With 'Synthetic Banking' Just Around the Corner Enjoy 'The Liechtensteiner' on 'Fed Monday'

The mad scientists are venturing back out into the deep end of the pool, having learned nothing from overleveraged derivatives gone wild.  As one commentator stated, "this will end very badly."

http://www.zerohedge.com/article/guest-post-synthetic-banking-just-around-corner-enjoy-liechtensteiner-fed-monday

...there are no 'traders' at all, just 'synthetic traders' immersed in 'continuous risk management' with no 'exchange trading' or 'position management' costs or risks. Employing 'commercially prudent leverage' within 'continuous risk management',...

Where have we heard this before?  Whoever buys these structured financial vehicles has got to the dumbest nitwit of the 3rd order--or possesses a PhD in Economics from Princeton.