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Is he allowed? I dunno if he just F'ed up or did some fraud at his former company. Or I'm guessing there are no regulations that need to be complied with when starting and hedge fund, as long he gets people to give him the money.
I think he is mainly managing his own family money plus some funds from close friends.
It is ironic that his MF Global leveraged bets on European bonds would have worked out very well longer term, but he was forced to sell early because of margin calls.
Of course, there is no excuse for using customer money.
Corzine was Gov. of New Jersey, too. Another illustration of politicians in bed with Big Money. I'm in Massachusetts. The previous Governor, Deval Patrick, is joining Bain Capital. (Uncle Mittens Romney. Is he still there? Maybe not...) Makes me puke.
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2. Reminded of the second "Wall Street" movie where Gekko gets out of jail and soon enough he's running money again.
It is ironic that his MF Global leveraged bets on European bonds would have worked out very well longer term, but he was forced to sell early because of margin calls.
Of course, there is no excuse for using customer money.
I'm shocked anyone would mention the two in the same sentence!