Is it me or does the kitchen remodel analogy doesn't make his point at all... I mean if you sell 5% for 50k through your broker and it's trading at 100k the next day and you find out that the broker made it available to his best clients first... How would that not be a scam?
The point he is making is that the broker could not predict the (inflated) marked valuation of the slice once it reached the market because of the nature of the process. It does not matter who profits from it, their privileged clients or some other speculator.
How is this dead at 7 points? I agree he is too personal but his points are spot-on and he does a great job of correcting the overly-simplistic metaphors that were dominating the media coverage.
I've found, when presented with an odd but well-crafted turn of phrase, that it's often most productive to assume that it is an SNL reference of which I was unaware.
