He basically expresses my opinion when it comes to manipulation: the Fed manipulates interest rates and bails out banks by accepting crappy collateral and buying bonds, and of course things like FX swaps manipulate that market. GS and others may front-run, but he doesn’t seem to believe in the futures/PPT theory of manipulation. He and I agree that poor traders use that as a mental crutch when they get frustrated.
Lots of other topics are covered, including Greece (he calls it a write-off, and says that the bailout of course was of the European banks, not Greece, which can never pay back its debt).
