Letters - What Kind of Victory? - NYTimes.com Re "The Hunch, the Pounce and the Kill" (May 27), which told of how a hedge fund manager and others outmaneuvered JPMorgan Chase in credit derivatives trading and emerged as winners as the bank lost billions. Certainly, the fund manager and others who took part in the winning trades are very intelligent and capable people, and are entitled under the rules of the game to the money they made. The problem is the game and the rules of the game. As I see it, not one thing of value was created with this exchange of money. It won't help the country recover from its economic problems or re-establish itself in the world of business. Is this the type of financial success that Alexander Hamilton really had in mind? Michael Caciopoli Palm Beach, Fla., May 27