When the legendary hedge fund Long Term Capital Management (LTCM) imploded on September 23, 1998, there were those inside the derivatives industry shaking their head in disbelief that a group of anointed geniuses went unquestioned when they used trading strategies that violated the most common sense of all derivatives regulations. This group was enlightened to an extent beyond what mere humans could comprehend, they thought, as they believed they could re-define derivatives laws and principles.  Now, some of the leaders of this disaster are at it again, stepping into the Chinese markets on edge of implosion but this time they...