Mr. Azumi called the yen's climb "excessive," blaming speculative traders for the movements and warning that the movements did not reflect Japanese economic reality.
It is thus easy to put bankers, traders, excessive compensation, derivative products and general financial hubris in the same bag.
Truth is, to end our oil addiction in the short term, we must end exports of crude extracted from public lands, do away with federal subsidies and limit excessive speculation by traders.
Many people, including the World Development Movement, argue that the current food price volatility is due to excessive speculation by traders in food commodities and derivatives.
Excessive bonuses, which encourage traders to take excessive risks, at a time of easy global credit - one of the major reasons for the global credit crunch.
Beijing has also imposed a raft of measures to prevent excessive speculation by individual traders, acting on their own behalf, who dominate the Shanghai market.
How Vince squares this with his plan for economic recovery is anyone's guess, but it had the opposite effect on the high street, saddling traders with excessive overheads many simply couldn't afford.
These skewed incentives drive excessive risk-taking among traders, promoting marginal and sometimes "value-destroying" mergers and acquisitions by investment bankers, and the sale of inappropriate financial products by retail bankers.
Perhaps still aware of the shock caused by the trading scandals last year at Société Générale and another large bank, Groupe Caisse d'Épargne, President Nicolas Sarkozy of France used a televised exchange late Thursday to rail against the excessive rewards given to traders.
While private budget constraints inject uncertainty into the trading environment, they also serve as a behavioral speed-bump, preventing traders from experiencing excessive losses due to overbidding.
