I am retired from international and investment banking. I have over 40 year experience in international commerce, foreign exchange, money markets, fixed income securities trading, securities financing, asset/ liability management, balance sheet planning before and after the Basel accords, risk management, audit, operations. I worked in Duesseldorf, Frankfurt, London, and the longest time, in Chicago and New York. I am now a private small scale equity trader and like to keep abreast of the market sentiments. I am looking for quality input on SA and usually find excellent comments on the technical and business specific side of things. Unfortunately I find many misconceptions on how the general market works, balance sheet mechanics, hedging, the responsibilities of market participants etc. Btw: my handle is the German word for Steam Engine, therefore please do not abbreviate!