December 17th, 2008

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The trouble with Bernie

Вы думаете это первый Берни, который попался на гигантских финасновых махинациях? Ничто не ново в этом мире. В 60-е был такой Берни Корнфелд (Bernie Cornfeld) "турецко-подданный", во главе огромной финансовой компании Investors Overseas Services. Вот как гламурно описывал его Time Magazine в 1965:

...Lavish Living. After its start at selling to G.I.s, Cornfeld's Investors Overseas soon spread out to sell to Europeans, has now expanded globally into more than 100 nations. Sales doubled annually from the start, but Investors Overseas really hit its stride in 1962 after Cornfeld launched what he calls the Fund of Funds, which is composed entirely of shares in 16 other mutual funds and management companies. By reinvesting its profits ($1,600,000 last year), Investors Overseas has expanded far beyond mutual funds. It has acquired two life-insurance companies with policies of more than $200 million in force, banks in Geneva, Nassau and Luxembourg with combined assets of $21 million, a data-processing firm and other investment services for 80,000 clients from Amsterdam to Ankara. This complex is growing faster than ever. After reaching $300 million for all of 1964, I.O.S. sales have shot up 91% — to $106 million — just during the first quarter of 1965.

All this has nicely enriched life for Istanbul-born, Brooklyn-reared Bernie Cornfeld, a mild-mannered bachelor of 37 who does not look as if he would ever talk back to his boss. He drives a Lancia Flaminia convertible, sails a 42-ft. Corsair, owns a ski lodge and a castle in France and lives in a lavish villa in suburban Geneva with two Great Danes and a Chinese houseman. He decorates his penthouse office with red silk Empire furnishings and swarms of attractive, multilingual secretaries, trains and entertains his worldwide force of 2,000 salesmen with everything from art lectures to cocktail parties in a 50-room lakeside mansion.

http://www.time.com/time/magazine/article/0,9171,833671,00.html

И эта пирамида тоже лопнула, в 1970. Часть руководства (правда, не сам Берни) банально сбежала с деньгами. Сам Берни в целом отделался лёгким испугом: он отсидел всего год в швейцарской тюрьме, и затем был оправдан в США (видимо, осталось достатоцгхно денег чтобы дать нужным людям). Неплохо жил до 1995, одно время сожительствовал с известной "Голливудксой мадам" Хайди Фляйсс.
Его некролог в NYTimes:
http://query.nytimes.com/gst/fullpage.html?res=990CE7DF113AF931A35750C0A963958260
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Пузырь лопается?

А вы заметили что доллар вниз идёт, куда ему и положено? С начала кризиса трусливые хомячки набежали, накупили зелёных фантиков, и совершенно зря. Сейчас постепенно рассасывается.

Dec. 17 (Bloomberg) -- The dollar declined the most against the euro since the 15-nation currency’s 1999 debut and sank to a 13-year low versus the yen as near-zero interest rates and rising budget deficits led traders to abandon the greenback.

The greenback extended its drop against a gauge of currencies of six U.S. trading partners, falling 11 percent from a 2 1/2-year high reached Nov. 21. Investors including hedge funds reversed bets that the dollar will appreciate to minimize losses as the end of the year approached, traders said.

“This move is historic,” said Russell LaScala, New York- based head of North American foreign exchange at Deutsche Bank AG, the world’s biggest currency trader. “It’s just going to keep going until the last bit of pain stops. I would not be shocked to see $1.50.”

The dollar fell as much as 3 percent to $1.4437 per euro, the weakest since Sept. 29, from $1.4002 yesterday, before trading at $1.4359 at 12:58 p.m. in New York. It was the biggest intraday drop since the euro’s inception. The U.S. currency decreased 1.4 percent to 87.80 yen from 89.05 and reached 87.14, the lowest since July 1995. The euro increased 1.1 percent to 126.06 yen from 124.71.

http://www.bloomberg.com/apps/news?pid=20601087&refer=home&sid=aGNcWOSfAMOk



И к рублю уже неделю падает, хотя центробанк расширяет бивалютную полосу: