Cuttone and Co. Inc.

Added to the list of headlines I never expected to see, is one that ran in Great Britain's The Mirror last Friday morning:

"Curling Fans Prepare for More Sleepless Nights From Vancouver 2010"

On a sub-conscious level, at least, I suppose I was aware that there were fans of this curious "sport" (essentially, shuffleboard on ice), but it would be no understatement to say that I was shocked to learn that millions of Europeans would stay up until the small hours of the morning to view competitors sliding heavy, round stones towards a large frozen bull's-eye (the "house"). However, with this week's Simpsons episode featuring a curling theme, perhaps it is time to recognize that curling's time may have arrived. Even though most traders I know are partial to other Winter Olympic events like the downhill (reminds them of their portfolio performance in 2008) or ski cross (most understand the appeal of elbowing competitors aside in a dash for the finish), perhaps this will be the time they turn their attention to sweepers, rocks and vice-skips. Hopefully their sleep patterns won't be too affected.What may affect them more directly this morning will continue to be the efforts by EU finance ministers to prevent the crisis of confidence over Greek sovereign debt from degenerating into a death spiral for the Euro.  Traders are watching closely to see if European finance ministers can craft a package that will simultaneously reassure investors, chastise the Greeks and minimize the potential that other southern European nations find themselves under market assault. The Euro has been going down faster than a rink full of South Korean short track speed skaters lately, but if European officials can pull off such a difficult triple Lutz, they may be able to stabilize the value of their beleaguered currency. However, I'm guessing that until those reassurances turn into explicit guarantees, Greek debt will continue to be under assault.Meanwhile, other headlines over the long weekend are shrieking that "Wall Street Bankers" were responsible for crafting derivative instruments that allowed Greece and other countries to hide their debt exposure from EU officials. Apparently the Greek government had very little responsibility in the matter, at least according to the articles I read. It kind of reminds me of the denunciations of the "evil mortgage companies" who preyed upon supposedly innocent homeowners whose only sin was in trying to flip houses for a thirty percent gain in six months.  All of this has left many bankers hoping that they add javelin catching to the Olympic summer games next time around. With all the recent experience that they have had being on the receiving end of darts from the White House, the media and the public, they would be a sure bet to bring home the gold from London.