Thus the Financial Times today. ”Data show hedge funds are unwilling to bet against the rally,” explains the newspaper. This is very good news for the latest stockmarket rally, indeed. The collective judgment of so many gamblers is the best the stockmarkets can hope for. In short, the financial crisis of 2008 is quite likely to be behind us by now. How long will the good times last, though? That is a difficult question, as the threadbare expression goes. But the best way to spot trouble is to watch short selling. Gamblers who put good money in their bets against iffy ventures are not kidding around. And Lehman is always good to remember in this connection. Not even the best and the brightest among the gamblers are safe under capitalism gone berserk. Bankruptcy always lurks even in the case of financial service companies that go back to the Nineteenth Century, when America was still in the provinces.