when the managers—Lewie and Michael Mortara—turned up, they would invariably dabble in the traders’ affairs. They’d tell the traders what they should or should not do; they’d want to know exactly why the traders had bought this or that bond. As one of the traders now says, “You didn’t necessarily have a good reason for every position. Sometimes you bought bonds just to find out what was going on in the street. You didn’t want someone hanging around asking you why you did such and such.”
