oh, he would get a LOT of investors for his fund. all these asset allocators, FOFs, large instutional firms filled with ive league crackheads , etc. trust me- never ever use any meaningful, statistical due diligence. its just : begin ooohh sh..... my friend invested 10 millions in him! corzzine has to be solid therefore, i have to do the same, whoooah! end (of sophisticated analysis).
Bananna republic. +1 Corzine, in charge of MF, sets the "tone" for the entire operation. The buck stops with him for the way money is managed. It stinks to high heaven that 1.2 billion can come up missing (stolen) and there are no charges. It's a nasty slap in the face to commodity traders and the bond/stock holders too who lost out by his ineptness. (another case of privatzing profits and public takes losses?) We (traders) were not public though. I'm discusted with the popular media protraying this as anything but criminal through "sources", that alone should scare the crap out of everyone. I was with MFG and PFG, in my eyes, they're both criminal, they both looted money that was not theirs, where's the justice?
Wall Street and the financial system here is totally FUBAR......time to invest in countries where justice is up held. Hell China looks better than the US now.....Corzine would have already been locked up.
Or in Iran he probably would have been executed... http://www.benningtonvalepress.com/2012/07/iran-executes-bankers-for-embezzlement.html Those Iranians ain't all bad it seems.
seriously mittens? "Bankers form the axis on which this planet spins. Bankers are among the purest and noblest people in any profession, in any country" WTF?
In a related story, Corzine said he expected between $800m and $1.6B in initial funds. He would not comment on the source of the funds...
Evercore partners or any other investment firm that can defy the laws of economics and talks out of both sides of their ass because they're staffed by ex govt or Fed bankers.
Are all rich people brain dead these days? This guy failed at simply keeping his customers money safe while collecting fees and interests, how the hell would he be able to make profits in the markets?