Matt Levine always has such great sentences: “One is that, if you are playing a game, you might not take it very seriously. You might call up your trader buddi

Matt Levine always has such great sentences: “One is that, if you are playing a game, you might not take it very seriously. You might call up your trader buddies at your old firm and say, “Hey, come over here, it’s so fun, we can just make stuff up, and the money is good,” but you will not call up the compliance people at your old firm and say that. For one thing, that is not an appealing pitch to compliance people. For another thing, the compliance people are what made your old firm less fun, always nagging you about compliance. Now you don’t need to comply! Now you get to make stuff up.”