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I need to show to your current Guardian piece-you wrote it after the single largest Wall Avenue drop in historical past, and that was Fb-the piece you wrote titled “The panic over Facebook’s inventory is absurd. Your banking utility, your library application, your retail utility, all of these apps can be folded into WeChat. He would love to take on WeChat instantly. Don’t let a one-day drop as a part of a exceptional six-yr surge in stock worth distract you from that tough reality.” Siva, why don’t you're taking it from there? The payout for making a Flush is reduce from 6x your wager to 5x your bet, however all different payouts stay the same. ANDREW COCKBURN: Well, deregulation - we begin the movie, I imply, with kind of the final descent into disaster from December 2000, when Phil Gramm, appearing on behalf of - it was basically a invoice written by a bunch of Wall Street legal professionals - smuggled a invoice into the appropriations bill at 7:00 within the evening on December fifteenth, when they were all fascinated by going dwelling for Christmas, basically saying - making it illegal to regulate, among different things, credit default swaps, which were - had been considered -- that are, you understand, mainly gambling. But we began with that, as a result of that’s what - the December 2000 act was what really despatched us over the cliff.


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