Reply #91: Interesting background info on Bennett (Refco CEO) [View All]

[UpInArms]

http://www.smh.com.au/news/business/an-englishman-in-new-york-and-in-big-trouble/2005/10/18/1129401257844.html

excerpt:

But anyone outside the financial world is likely to ask more basic questions: how could one man borrow so much money that, in dollar bills, you'd need 30 trucks to carry it all? And how could no one notice?

But there is another question: just who is Phillip R. Bennett? For a man who was chief executive of a company once valued at more than $US3 billion, he has kept a remarkably low profile.

What quickly becomes apparent is that although Bennett's company was listed on the New York Stock Exchange, he was still very much part of what is, in the UK, dubbed the "Secret City".

This hidden world consists of hedge funds, private equity groups, traders and proprietary or "prop trading" desks of investment banks, which bet their respective banks' money in the markets. Perhaps because their work can be controversial executives in these businesses rarely come out of the shadows.

...more at link... (but not really :( )