Some live, some die
I take two weeks off from writing and nothing changes. Not sure if that is good or bad, but at least it is a bit amusing. Leading up to the holiday break, the papers (that is my blanket term for print and broadcast media) have been filled with stories of poor hedge fund performance, managers going out of business, and predications that the hedge fund industry as we know it, is over. Well, here we are a few days into the new year and, sure enough, the papers are once again filled with funds shutting down, investors questioning strategies and sprinkled with a couple of stories about massive new fund […]
CHINA’S ‘GET OUT OF JAIL FREE CARD’
In China, the haves do not have to actually do the time — that is if they can pony up for a look-like. According to Slate.com’s exposé, if wealthy and powerful criminals are willing to “…spend some money, [they] remain free,” noted a Chinese anonymous police officer. The cost of a ‘replacement convict’ or ding zui seems to vary, one man paid $8000 for a ‘body double’ after a hit-and-run that killed a pedestrian while another agreed to pay $31 for each day behind bars to his ‘stand in’ after his company illegally demolished a home. Off the Great Wall’s clip shows how different a ‘substitue’ looks from the actual […]