We have never been fans of Mr. Corzine’s and we never shall be. His sense of self-importance; his arrogance; his Icarus-like hubris are, have been and shall in the future be legendary, and it is from that which all failures emanate. We saw this in John Meriwether at Long Term Capital Management. We saw this in the problems in Orange County California years ago created by Mr. Robert Citron. We saw this in the various “corners” in wheat, or gold, in the 19th century. We saw this in the John Law Bubble in 18th century France. We saw it in the Tulip Bulb Mania in the Netherlands centuries ago and we’ve seen it here in John Corzine and MF Global. However, it does appear that Mr. Corzine’s actions were within the law. They were stupid. They were idiotic; they were the results of hubris, but they likely were legal, or were at least defensible from a criminal perspective… at least we hope so.
commented by an unknown trader.
No comments:
Post a Comment