RIP hedge funds

[despaer]

I see the latest big thing to fall apart at the seams is a giant hedge fund. It looks like an upstanding chap has managed to run a $50Bn pyramid scheme and nobody twigged he was doing it until he owned up to those around him.

Short term, this is a bit of a bummer as it now means that everyone who invested in hedge funds will rush off and sell their

Comments

[gedhrel]

A ponzi scheme?! Yes, the same kind of fraud that brought down the Eve Intergalactic Bank :-)

Considering that Jeff Skilling (? I think) got over 20 years for Enron, and that this chap's actions will have killed, starved, shortened lives, and generally fucked up a lot of people - victimless crime it isn't - I wonder if he'll get the chair?

[despaer]

Apparently he faces 20 years and a $5M fine. Which as he is 70 and has nicked 10000 times that seems a little futile