Monday, 31 August 2015
Last updated 2 days 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?'"
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…