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(Quartz)   Meet the most indebted man in the world. Stay risky, my friends   (qz.com) divider line 95
    More: Fail, arbitrages, trade surplus, fat taxes, billions and billions, University of San Diego, subprime crisis, Jerome Kerviel, Legal liability  
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24337 clicks; posted to Main » on 03 Nov 2012 at 11:42 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



95 Comments   (+0 »)
   
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2012-11-03 08:47:47 AM
He doesn't always lose money. But when he does, he loses more than $6 billion.

What, did he buy real estate in New York city oceanside housing? HYUK HYUK HYUK



/too soon?
 
2012-11-03 09:10:47 AM
So... Installment plan then?
 
2012-11-03 11:04:32 AM

Vodka Zombie: So... Installment plan then?


The OJ plan.
 
2012-11-03 11:35:34 AM
Makes the $5000 I just put in oil look silly :(
 
2012-11-03 11:46:57 AM
Anyone else having great difficulty with the scroll bar on that site?
 
2012-11-03 11:49:45 AM
At some point it doesn't matter anymore. The only way he would ever be able to pay that back is if he got back into the game, and nobody will give him their money so he can do that. So, he'll end up paying a certain percentage of his earnings for the rest of his life.

Fine with me. You gamble with other people's money the way he did and you pay the consequences of failure.
 
2012-11-03 11:50:56 AM
I figured it was him.
 
2012-11-03 11:52:46 AM

whatshisname: Anyone else having great difficulty with the scroll bar on that site?


Yup.
 
2012-11-03 11:54:18 AM
Donald Trump?

Oh you meant someone that was actually put to task because of their fraudulent financial activities.
 
2012-11-03 11:54:20 AM

gopher321:
/too soon?


Did you hear about the new mixed drink called "The Sandy"?

Its kind of like a Manhattan, but more watered down.
 
2012-11-03 11:54:26 AM
I expected a campaign bio of Barack Obama.
 
2012-11-03 11:55:01 AM

whatshisname: Anyone else having great difficulty with the scroll bar on that site?


It won't scroll at all on my phone. How does a scrollbar not work?
 
2012-11-03 11:55:02 AM
I read that headline as "meet the most INEBRIATED man in the world". I was about to ask which one of you farkers made the news.
 
2012-11-03 11:56:19 AM
Link's broken, already.
 
2012-11-03 11:56:37 AM
I can't get the page to load. Mirror, anyone?
 
2012-11-03 11:56:41 AM

whatshisname: Anyone else having great difficulty with the scroll bar on that site?


I try to read article and it moves by itself.
 
2012-11-03 11:57:15 AM
If he's smart he'll flee the country and work a scam online from a country with no extradition treaty.
 
2012-11-03 11:58:35 AM
So he is not in jail?
 
ZAZ [TotalFark]
2012-11-03 11:59:03 AM
If he's smart he'll go to work for a central bank and cause hyperinflation to reduce his debt to an amount he can pay back.
 
2012-11-03 11:59:44 AM
Stay highly educated, my friends.
 
2012-11-03 12:02:48 PM
Hang on, if you are buying both long and short, aren't you hedging your money on that the stocks will meet at a poing higher than the mid point?

/Not a markets person
 
2012-11-03 12:04:14 PM
Here's #2. Taken just after a vigorous #2.

www.addictinginfo.org
 
2012-11-03 12:04:49 PM

spentshells: So he is not in jail?


He is, and when he gets out that's when the fine, or rather the severe wage garnishing until he dies, kicks in. He'll never pay back $6.3 billion, but he'll be punished for the rest of his life for what he did.
 
2012-11-03 12:07:48 PM
jesus...sisyphus indeed
 
2012-11-03 12:08:04 PM
I don't always recommend sentencing people to slavery, but...
 
2012-11-03 12:09:59 PM
shiat just got real, bro.
 
2012-11-03 12:10:05 PM

reklamfox: I read that headline as "meet the most INEBRIATED man in the world". I was about to ask which one of you farkers made the news.


Drew?
 
2012-11-03 12:11:25 PM
images.politico.com
6.3 Billion? PFFT Get on my level son. 6.3 TRILLIONZ  ;
 
2012-11-03 12:12:28 PM

ChuDogg: 6.3 Billion? PFFT Get on my level son. 6.3 TRILLIONZ  ;


Derp
 
2012-11-03 12:13:05 PM
Go to The Atlantic website for the article.
 
2012-11-03 12:15:25 PM

deffuse: Hang on, if you are buying both long and short, aren't you hedging your money on that the stocks will meet at a poing higher than the mid point?

/Not a markets person


Apparently he was doing the long trades and faking/hacking the short trades. Almost like a 1 person ponzi scheme with the bank as the mark.
 
2012-11-03 12:19:11 PM
He's 6.3 bil in the red and still wearing a $2000 suit.

Yeah. He's not broke. He may be paying out for the rest of his life, but if he was moving that much money around, he'll never not be comfortable.
 
2012-11-03 12:19:21 PM
Are those frames? Was the site designed in the mid 1990's?
 
2012-11-03 12:19:25 PM

Nightjars: gopher321:
/too soon?

Did you hear about the new mixed drink called "The Sandy"?

Its kind of like a Manhattan, but more watered down.


Ha!

Actual recipe for a Sandy:

3/4 oz sweet vermouth
2 1/2 oz bourbon whiskey
1 dash Angostura® bitters
1 maraschino cherry
1 twist orange peel

Then add:

2 oz light rum
2 oz dark rum
2 oz passion fruit juice
1 oz orange juice
Juice of a half a lime
1 Tbsp simple syrup
1 Tbsp grenadine
Orange slice and cherry for garnish
 
2012-11-03 12:20:14 PM

Luminaro: whatshisname: Anyone else having great difficulty with the scroll bar on that site?

Yup.


I can't even get it to open. I see a shadow of it behind what looks like it's going to be a giant pop-up ad, but it's stuck there.
 
2012-11-03 12:22:46 PM

Snarfangel: Nightjars: gopher321:
/too soon?

Did you hear about the new mixed drink called "The Sandy"?

Its kind of like a Manhattan, but more watered down.

Ha!

Actual recipe for a Sandy:

3/4 oz sweet vermouth
2 1/2 oz bourbon whiskey
1 dash Angostura® bitters
1 maraschino cherry
1 twist orange peel

Then add:

2 oz light rum
2 oz dark rum
2 oz passion fruit juice
1 oz orange juice
Juice of a half a lime
1 Tbsp simple syrup
1 Tbsp grenadine
Orange slice and cherry for garnish


I need to keep this recipe.

For the wedding :D
 
2012-11-03 12:23:00 PM

Dorsai: I expected a campaign bio of Barack Obama.


i1125.photobucket.com

/Kidding.
//-ish
 
2012-11-03 12:23:36 PM
findmeaviking.com

That Pomade don't buy itself, you know.
 
2012-11-03 12:24:43 PM

grinding_journalist: He's 6.3 bil in the red and still wearing a $2000 suit.

Yeah. He's not broke. He may be paying out for the rest of his life, but if he was moving that much money around, he'll never not be comfortable.


Exactly. The guy is smart and unethical. No way he didn't squirrel away/give to cronies enough cash to live well forever.
 
2012-11-03 12:25:41 PM
 
2012-11-03 12:26:25 PM
The loss of $1,000,000 is a tragedy, the loss of $6.3 billion is a statistic.
 
2012-11-03 12:30:59 PM
A judgement isn't going to do anything to somebody with that type of financial and computer know-how.

I would bet money he never ends up paying a dime of that back. There's lots of easy ways to hide money and avoid collections - as this guy has already clearly demonstrated.

It is amazing to me, though, that this guy embezzled (federally) over 6 billion and only gets 3 years in prison for it.
 
2012-11-03 12:32:32 PM
The story is on the most annoying website in the world. Quit moving dammit!
 
2012-11-03 12:33:15 PM
I recall a saying that may be appropriate to this situation - "If I owe you $500,000 and I can't pay, I'm the one who has a problem. If I owe you $500,000,000 and I can't pay, you are the one who has a problem."
 
2012-11-03 12:33:44 PM
As soon as I saw the douche levels in the photo, I instantly lost whatever sympathy I may have had for him.

Greedy farker farked himself over by shuffling pieces of paper around, and screwed a bank in the process. There's nobody in this story I feel sorry for.
 
2012-11-03 12:36:52 PM
Fuggin Bizzy

Smartest Funniest


2012-11-03 11:55:01 AM

whatshisname: Anyone else having great difficulty with the scroll bar on that site?

It won't scroll at all on my phone. How does a scrollbar not work?

the website content is all yoked to javascript or as I like to call it 'adware'.
Unless you're willing to run Java and submit to the avalanche of carnival barkers all clammoring for you to buy their wares you cant see the content youre looking for.
Welcome to a BRAVE NEW WORLD!!! (have your Visa or AMC handy......you're gonna need it)
 
2012-11-03 12:41:42 PM

Bondith: As soon as I saw the douche levels in the photo, I instantly lost whatever sympathy I may have had for him.

Greedy farker farked himself over by shuffling pieces of paper around, and screwed a bank in the process. There's nobody in this story I feel sorry for.


amen. and those who extended him should be paying penance too. i'm thinking a lot of dirty little hands were gladly involved. of course, few or none will pay any price for their sins. it's good to be a king.
 
2012-11-03 12:50:07 PM
And had he stolen $100 out of a cash register, does he get a longer sentence?

/not exactly familiar with the laws there.
 
2012-11-03 12:53:24 PM
I was so expecting...

i265.photobucket.com
 
2012-11-03 12:55:03 PM
That makes me feel a LOT better!!
 
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