Nathan: You'd better give that Journal your whole eyeball. Diamond Jamie of the Mogo Chase mob just took a hit for three billion, and he's still bleeding.
Benny: You're kidding me. He and the Gold Man were the only high pillows to stay out of dutch with the shack swindles.
Nathan: Well you read. Still, Diamond is getting his nose cleaned but good as we speak. He floated his crap default-swap game to Scroogetown, where even the sky is no limit. Had a guy called the Big Whale fronting his bets.
Benny: What did he bet on?
Nathan: Get this: He bet most of the corporations over here would make good on their markers.
Benny: The big boys are doing fine. They just ain't hiring.
Nathan: I'm not finished. He's betting against the sky rollers at the same time.
Benny: They usually lose — still a good bet.
Nathan: It's more complicated than that. Some scam about basis points and how the government's markers do against the suits.
Benny: Is that the whole scam?
Nathan: Are you kidding? Diamond has been apologizing all week without tipping his hand.
Benny: Well, I apologize to my doll all the time for I don't know what.
Nathan: Yeah, but Diamond knows more than he's jawing.
Benny: So he's betting on what the market guys will do?
Nathan: And who knows how those mugs will react, what with all the cross action in that neighborhood?
Benny: Not those Euro thugs.
Nathan: They've tied all their shoes together and now they want to go in different directions.
Benny: I thought Don Juan and Pat the Shamrock were behaving themselves.
Nathan: True, but then Frenchie and the Greek got booted by their mobs, and now nobody knows from their markers.
Benny: I thought they were all under Deutsch Merkel's skirt.
Nathan: Yeah, but the hem was too tight. The backfield was always in motion.
Benny: How's Diamond still bleeding?
Nathan: Well, when they started losing, the Whale doubled down, but the Hedge Frauds sharked in for the easy action. He got rid of the Whale, but the pot's still growing.
Benny: Hey, a man can bet on anything he wants. But a crazy bet like that, in crazy times like these, you can only put up your own pocket.
Nathan: Uncle Sam is bankrolling this — lending to Diamond, Gold, and others for no juice, hoping they'll spread it around to some down-and-out homes and shops — and they go play this whack with it.
Benny: I bet Detective Dodd and Captain Frank will bring some heat for this.
Nathan: Diamond has been chinning under the Cap Dome all year about how they should let the big boys play. Everybody wins for a while, and when the pot's called in, only the suckers pay.
Benny: Ice ain't taking the fall.
Nathan: Of course not. He put his moll, Ina the Crisis, on roller skates.
Benny: The blonde with the big pearls?
Nathan: He told her if she clams up, she'll walk with enough oyster fruit to choke on.
Benny: I told you the game was a fix.
Nathan: The doll always takes the fall on the Wall.
Benny: Just like when they sent Zoe Cruz on a long cruise after the last bubble.
Nathan: Here's six bits. Get the Daily News on me and stick with your ponies. Downtown, no matter what game they're playing, those jokers are wild.
Donald Arrup is a New York writer. He can be reached at email@example.com.