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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: booyaka who wrote (56802)	3/25/2006 4:27:10 PM
From: Win-Lose-Draw	Read Replies (1) \| Respond to of 110194

Refco fallout. The reason Refco was so popular with a certain breed of fund manager is they were willing to...ah..."asssist" their clients with creative bookkeeping (eg, the company that became Refco was Hillary Clinton's commodities broker: all her trades would be made on company books, and only the ones closed out successfully would be moved over to Hillary's book.) This sort of thing doesn't survive close scrutiny, so Roger's clients are suing his a** off. Not for losing money - but for violating fiduciary responsibility by using a broker known to be tainted. And for being dumb enough to have his (ie, their) money in a NON-SEGREGATED account with said broker. Oy. I know Rogers has been a darling for many, especially in "the world is going down the crapper" circles, but it really doesn't look like he's going to survive this. Nor he should he, frankly.