Sunday, 19 April 2015
Last updated 17 hours ago
Dec 7 2011 | 11:45am ET
Jim Chanos, founder of the $6 billion hedge fund Kynikos Associates, thinks the feds should have gone after Wall Street bankers with the same enthusiasm they showed for prosecuting Enron executives.
The renowned short seller made the remarks on day two of the Reuters 2012 Investment Outlook Summit in New York.
Chanos said that by accepting big bonuses for selling what turned out to be worthless mortgage-backed securities some bankers effectively “looted” their companies, reports Reuters.
"I strongly believe that there should have been, and should be, prosecutions for what happen happened in '08," he said.
A supporter of President Barack Obama, Chanos also wondered why so many of his peers are critical of the president:
"I keep asking my hedge fund compatriots, 'How bad has your life under Obama really been?'"
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…