"Being the last day of the quarter, I had expected the market to be rather peaceful," one senior trader said.

That was important," says one of his senior traders.

"Think of a structured note as a sports car," one senior trader at a large bank said.

Two senior traders teach the theoretical classroom education, which is the core of the program.

He phoned his office and directed Trish to put him through to one of the senior traders.

For one senior trader in particular, the situation is a little queasy.

Approaching him as he was about to leave, one senior trader said, "my God Brian, how did this happen?"

But the front row was filled entirely with senior traders and institution chairmen.

"If rates back up from here, you will have a repeat of the same problems with people's inventory," a senior trader said.

My mother's brother is now senior trader, brought on board when my father died.