Wall Street, like anything else, is...

...in a constant state of flux: if you don't keep up you won't survive. Now if that sounds like I'm telling you the world is round, consider this front page article in the Times today, "A Romance With Risk That Brought on a Panic," about Jon Corzine and MF Global. Money quote:

“It’s like a bond trader from 15 years ago went to sleep and suddenly awoke to make these trades,” one regulator who later reviewed the transactions remarked to a colleague.