{"id":442,"date":"2008-12-07T14:55:46","date_gmt":"2008-12-07T18:55:46","guid":{"rendered":"https:\/\/freedom24.org\/rationalpost\/?p=442"},"modified":"2009-09-22T00:30:11","modified_gmt":"2009-09-22T04:30:11","slug":"bucket-shops","status":"publish","type":"post","link":"https:\/\/freedom24.org\/rationalpost\/bucket-shops\/","title":{"rendered":"bucket shops"},"content":{"rendered":"<p><em>Over-the-counter gambling on the markets has been around much longer than modern derivatives pundits would have you believe. The New York Times was warning against &#8220;casino capitalism&#8221; as early as <a href=\"http:\/\/query.nytimes.com\/mem\/archive-free\/pdf?res=9807E3D6163EE733A2575AC1A9679D946497D6CF\" target=\"_blank\">1905<\/a>, when side bets on market movements were both commonplace and unregulated, and won the attention of an American government still swaggering after its victory over the mega-trust companies of the late 19th century. The following <\/em>60 Minutes<em> segment discusses both the nature of CDS instruments and how they&#8217;ve become just as dangerous today as they were in the &#8220;bucket rooms&#8221; or gambling houses of the 1920s&#8230;<\/em><\/p>\n<p><object classid=\"clsid:d27cdb6e-ae6d-11cf-96b8-444553540000\" width=\"425\" height=\"324\" codebase=\"http:\/\/download.macromedia.com\/pub\/shockwave\/cabs\/flash\/swflash.cab#version=6,0,40,0\"><param name=\"flashvars\" value=\"link=http%3A%2F%2Fwww%2Ecbsnews%2Ecom%2Fvideo%2Fwatch%2F%3Fid%3D4546583n&amp;partner=news&amp;vert=News&amp;autoPlayVid=false&amp;releaseURL=http:\/\/release.theplatform.com\/content.select?pid=29MTeFqVojCxuRHUQN9ahuw65TE7x6pK&amp;name=cbsPlayer&amp;allowScriptAccess=always&amp;wmode=transparent&amp;embedded=y&amp;scale=noscale&amp;rv=n&amp;salign=tl\" \/><param name=\"src\" value=\"http:\/\/www.cbs.com\/thunder\/swf30can10cbsnews\/rcpHolderCbs-3-4x3.swf\" \/><embed type=\"application\/x-shockwave-flash\" width=\"425\" height=\"324\" src=\"http:\/\/www.cbs.com\/thunder\/swf30can10cbsnews\/rcpHolderCbs-3-4x3.swf\" flashvars=\"link=http%3A%2F%2Fwww%2Ecbsnews%2Ecom%2Fvideo%2Fwatch%2F%3Fid%3D4546583n&amp;partner=news&amp;vert=News&amp;autoPlayVid=false&amp;releaseURL=http:\/\/release.theplatform.com\/content.select?pid=29MTeFqVojCxuRHUQN9ahuw65TE7x6pK&amp;name=cbsPlayer&amp;allowScriptAccess=always&amp;wmode=transparent&amp;embedded=y&amp;scale=noscale&amp;rv=n&amp;salign=tl\"><\/embed><\/object><a href=\"http:\/\/www.cbs.com\"><br \/>\n<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over-the-counter gambling on the markets has been around much longer than modern derivatives pundits would have you believe. The New York Times was warning against &#8220;casino capitalism&#8221; as early as 1905, when side bets on market movements were both commonplace and unregulated, and won the attention of an American government still swaggering after its victory [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_s2mail":"","footnotes":""},"categories":[21,12,1],"tags":[18,55,28,98,49,68,86],"class_list":["post-442","post","type-post","status-publish","format-standard","hentry","category-financial-crisis","category-history-society","category-other","tag-financial-markets","tag-great-depression","tag-history","tag-leverage","tag-speculation","tag-video","tag-wall-street"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>bucket shops - The Rational Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/freedom24.org\/rationalpost\/bucket-shops\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"bucket shops - The Rational Post\" \/>\n<meta property=\"og:description\" content=\"Over-the-counter gambling on the markets has been around much longer than modern derivatives pundits would have you believe. The New York Times was warning against &#8220;casino capitalism&#8221; as early as 1905, when side bets on market movements were both commonplace and unregulated, and won the attention of an American government still swaggering after its victory [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/freedom24.org\/rationalpost\/bucket-shops\/\" \/>\n<meta property=\"og:site_name\" content=\"The Rational Post\" \/>\n<meta property=\"article:published_time\" content=\"2008-12-07T18:55:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2009-09-22T04:30:11+00:00\" \/>\n<meta name=\"author\" content=\"The Editor\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The Editor\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/freedom24.org\/rationalpost\/bucket-shops\/\",\"url\":\"https:\/\/freedom24.org\/rationalpost\/bucket-shops\/\",\"name\":\"bucket shops - The Rational Post\",\"isPartOf\":{\"@id\":\"https:\/\/freedom24.org\/rationalpost\/#website\"},\"datePublished\":\"2008-12-07T18:55:46+00:00\",\"dateModified\":\"2009-09-22T04:30:11+00:00\",\"author\":{\"@id\":\"https:\/\/freedom24.org\/rationalpost\/#\/schema\/person\/283fe28dc4dbcdd4b4cf199931549e0b\"},\"breadcrumb\":{\"@id\":\"https:\/\/freedom24.org\/rationalpost\/bucket-shops\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/freedom24.org\/rationalpost\/bucket-shops\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/freedom24.org\/rationalpost\/bucket-shops\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/freedom24.org\/rationalpost\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"bucket shops\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/freedom24.org\/rationalpost\/#website\",\"url\":\"https:\/\/freedom24.org\/rationalpost\/\",\"name\":\"The Rational Post\",\"description\":\"A collection of essays and articles on the science of everyday life\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/freedom24.org\/rationalpost\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/freedom24.org\/rationalpost\/#\/schema\/person\/283fe28dc4dbcdd4b4cf199931549e0b\",\"name\":\"The Editor\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/freedom24.org\/rationalpost\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f86e535a97f912bdd424fbc1e2e03c7cd61d620df1d67992619d98e857242139?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f86e535a97f912bdd424fbc1e2e03c7cd61d620df1d67992619d98e857242139?s=96&d=mm&r=g\",\"caption\":\"The Editor\"},\"description\":\"Founder of Freedom24\",\"sameAs\":[\"http:\/\/www.rationalpost.com\"],\"url\":\"https:\/\/freedom24.org\/rationalpost\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"bucket shops - The Rational Post","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/freedom24.org\/rationalpost\/bucket-shops\/","og_locale":"en_US","og_type":"article","og_title":"bucket shops - The Rational Post","og_description":"Over-the-counter gambling on the markets has been around much longer than modern derivatives pundits would have you believe. 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