Busy Day for Hedge Fund Managers Gone bad
By Ricardo Kaulessar Friday was teeming with news about hedge fund industry players having to answer for various misdeeds. Most prominent was…
What strikes me about this article was this line:
“forfeit $5 million to the government”
Who was offended or hurt by his actions? The government? While not familiar with that case, I assume investors lost that $5M taken by the government, so they are damaged first by the HF manager then by the government in the name of justice. Laws used to be in place to make the injured party whole, not to enhance government coffers. Why wasn’t that returned to the people who lost it?
NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!