July 8, 2008 – Analysts Concerns Fell by the Wayside
'I cheated my investors because I was afraid to admit my failure. I did not want the world to think I was not good enough and I did not want my family to see me as a failure.' Those are some of the choice, cowardly words from Samuel Israel III, the erstwhile Bayou Capital hedge fund manager who cheated investors out of $450 million, when begging the sentencing judge for leniency. Apparently, Israel believes he was justified in, and can earn sympathy for, ripping off his clients because he couldn't measure up to his prominent New Orleans family. His lawyer also pled on Israel's behalf, noting the swindler's pacemaker, back trouble and addiction to pain killers.
The U.S. economy is like a zebra that has stumbled into a spot of quicksand. The more it struggles, the faster it will sink, but if the zebra can be patient, help may come along sooner than it knows.
Exclusive data on top players in capital markets
Senior Vice President
Firm: The Phoenix Companies, Inc.
Wholesalers play a much bigger role in representing a firm these days. Today's wholesaler needs to be friendly and charismatic, but also linked in to the company database and capable of explaining complicated products. The evolution of the wholesaler will change the entire industry, leaders say.
Current Issue