oh no...some hedge fuind guys are in trouble...and they did so much for society

Parent Cafe
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<p>They did so much for society…and now they are bums…good for nothing lazy a@@es…</p>

<p>They should go pluck fruit off trees…</p>

<p>[Greenwich</a> lean time: Hedgies’ exodus hits Conn. house sales - NYPOST.com](<a href=“http://www.nypost.com/p/news/business/greenwich_lean_time_iyRIfUjMbc2yt3dV96rHcK]Greenwich”>Greenwich lean time)</p>

<p>"Out-of-work hedge fund millionaires are exiting Greenwich, Conn., en masse, with a record number of their pricey mansions now on the block.</p>

<p>“They’re even turning back leases on their luxury cars because they can’t afford those, either,” said Gary Cheeler, an investor and adviser to the hedge fund industry, which is struggling with scores of shutdowns and clients seeking to make year-end withdrawals.</p>

<p>A report by Prudential Connecticut Realty in Greenwich – home to the East Coast’s biggest cluster of hedge fund shops outside Manhattan – said the number of homes valued at $8 million and higher that are now languishing unsold soared by one-third recently.</p>

<p>“About 10 percent of those homes have been built on spec,” said J ohn W. M. Cooke, head of the firm.</p>

<p>Some of the homes could even face foreclosure, but no one’s going to admit it, Cooke told On the Money. “People here don’t want to talk about what kind of troubles they might be in.”</p>

<p>Indeed, one $11 million mansion in Greenwich was foreclosed recently, and the owner – an out-of-work hedge fund boss – packed up and returned to his California roots, said Cheeler, who declined to name the cross-country traveler.</p>

<p>“It’s very sobering when you don’t have that seven-figure paycheck anymore,” Cheeler</p>

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<p>The poor dears. I feel so badly for them. </p>

<p>;)</p>

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<p>:)</p>

<p>These hedge fund people are not living up to their deals…they walk away…</p>

<p>“They’re even turning back leases on their luxury cars because they can’t afford those, either,” said Gary Cheeler, an investor and adviser to the hedge fund industry, which is struggling with scores of shutdowns and clients seeking to make year-end withdrawals.</p>

<p>They should be cleaning the bathrooms at the car dealerships…so they don’t fall behind on their payments…</p>

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<p>Because the rest of population doesn’t do the same thing…? I forgot that no one else walked away from their debts/obligations in the past few years… oh wait…</p>

<p>Sent from my DROIDX using CC App</p>

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<p>If they were smart, they socked some of their cash away. Unless their egos got in the way of their smarts.</p>

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<p>He’s running to California because he can’t afford to live on the east coast? Seriously? There is a lot of territory in between, and most of it is relatively inexpensive. And the unemployment rate isn’t any worse than CA. Maybe by ‘roots’ he means living with his parents.</p>

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<p>I fail to see why people take joy at seeing others lose their jobs and wealth.</p>

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<p>razorsharp…Do you think these hedge fund guys should keep paying their car lease payments?</p>

<p>Most of them can probably still afford the payments…</p>

<p>Do you think they should walk away from their homes?</p>

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<p>Other than Goldman which does “God’s work”, they’re all crooks and should probably be strung up.</p>

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<p>:)…</p>

<p>I wouldn’t go that far…</p>

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<p>OK - just thrown in jail</p>

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<p>lol…</p>

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<p>If you are making megabucks, why would you lease your car?</p>

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<p>leverage…</p>

<p>you think you can make better returns than the interest costs of the lease…</p>

<p>probably writing off the lease…</p>

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<p>So you can turn it in at the end of the lease for the next hot model- that was their mentality. “Livin’ lease to lease”- no commitment, lots of stuff to play with and show off…</p>

<p>These guys thought they were invincible. They were drinking their kool-aid, so spent it all.</p>

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<p>that’s true too…performersmom…</p>

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<p>Yes, lease was a business expense. So was much else in their life: travel, entertainment.
It is amazing what all the bennies of success are!!!</p>

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<p>Razor- yes, there is some schadenfreude, but there is also an attempt to see what went wrong to learn from it, some “I told you so, it was too good to be true,” and also some “Heck- what happened to the American dream?!”</p>

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<p>I mentioned before …I saw a guy’s tax return…he wanted to borrow several hundred thousand. He made 2,000,000 a year…it was in royalties…and his taxable income was 20,000…</p>

<p>He wrote off everything…well… except for 20,000.</p>

<p>And he needed to borrow money…</p>

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<p>One would think after 2008, they would have learned but apparently once a bonehead always a bonehead.</p>