Dave: I kind of chortled when I saw Scholes’ name juxtaposed with “financial innovation”. Didn’t we already see this movie (Long Term Capital Management debacle) before?
On a tangential note: A good friend of mine and former Montgomery Street Securities/Bear Stearns guy, was approached by JM Advisors Management, out of Greenwich, CT, for a possible position within the company. Turns out its the latest iteration of John Meriwether’s hedge fund.
