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"Bad Boy" Hedge funder betted on Bank collapse & pays self £30m.

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Times Online:

 

CRISPIN ODEY, the hedge-fund manager, is to pay himself £30.4m after his firm made a fortune betting on the near collapse of the UK banking system last year.....

 

Odey, whose firm manages $6.2 billion (£3.8 billion) of assets, will escape the 50% windfall tax introduced in the pre-budget report as this does not apply to hedge funds.

 

 

Article here:

 

‘Bad boy’ hedge-fund manager Crispin Odey nets £30m - Times Online

 

 

His current wife is Nichola Pease, who holds a position on the board at Barclays, whist her brother in law is John Varley (Barclays CEO).

Also his first wife was on the board of Northern rock at the time of its collapse.

 

....hmmmm..... ?

 

(In other news, a dentist and his friend were recently made examples of and both jailed for insider dealing in a very high profile court case, after they were found guilty of buying shares after acting upon privileged information).

 

 

I find these comments by some readers interesting:

 

"If hedge fund managers could see the bank disaster coming and act beforehand why couldn't the Treasury or the BoE? "

 

 

"It does rather strike me that he has more than a little access to people with inside knowledge. You may argue that this makes him best placed to make the best decisions (even without the forward thinking) but it is rather contrary to the rules of the FSA if they ever cared to do their job."


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