* * *
"It's not like that in the magical world, 'Arry," Hagrid said, voice lowered in concern. "Y'see, when Vol... well, when _You-Know-Who_ set up a trust deposit insurance scheme, 'e didn't account for rising interest rates. And 'e didn't give codflakes about whether it would influence currency issues abroad, or take into account nominal seasonal fluctuations in the GNP as accounted for in Dumbledore's rules. See, _that's_ what makes him so evil, Harry; by doin' this he unpinned meaningful values from real estate an' just left 'em floatin', an' so the loss in equity was inevitable..."
* * *
Harry's capitalization pool was starting to roll over. He knew there was fallout risk. With a quick glance at Ron and Hermione he added a short hedge of soft dollars and stirred in some FASB No. 8. But this was a mistake; the market began churning, and his small-issues exemption began to smoke. He started trying to write down the value when he felt, rather than heard, Snape gliding up from behind. His variance was harsher, less ironic, than usual. "So, Potter," he sneered. "_That's_ your solution? When someone takes a poison pill, you can't _always_ just shove a BARRA analysis down their throat, you know. If this had been a volatile market you'd be in Azkaban for having violated Glass-Steagall." Snape looked down his nose at him, his equity balanced. "You're just like your father: arrogant, always at unsystematic risk, overextended, overbought and underfinanced."
This was too much. "My father was _not_ overextended!" Harry shouted, jumping from his stool, portfolio in hand...
* * *
"_Accio Jensen index!_" Harry cried, pointing his wand at the maintenance margin requirement. If he could just prevent Voldemort from off-balance-sheeting a little longer, he knew Hermione would come through with the EAMS differential disclosure. But Voldemort's equity was powerful, even with Dumbledore's setting value date on the Eurodollar; his random-walk didn't seem so random, and Harry was sure that even with translation exposure he could paper over his losses. "_Autoregressive kedavra!_" Voldemort snarled with a sudden fiduciary. Harry leaped aside, nearly forced to sell at a dirty price. If he hadn't set his global bonds to Market-if-touched he would have been forced into liquidity...