How great is it to play with the house's money? Look at the still-thriving practice of...

|By:, SA News Editor

How great is it to play with the house's money? Look at the still-thriving practice of securities lending, where pension funds and mutuals lend stocks and bonds to the Street in return for cash that banks like JPM invest - then the banks take a big cut of the profits, but leave the funds to absorb all the losses.