OK, WHAT'S THIS CRAP ABOUT THE WISDOM OF THE MARKET???

This fellow may not deserve jail time but he should be shunned by all decent people.

Meriwether setting up new hedge fund

By Sam Jones in New York

Published: October 22 2009 00:03 | Last updated: October 22 2009 00:03
Financial Times

John Meriwether, the hedge fund manager and arbitrageur behind Long-Term Capital Management, is in the process of setting up a new hedge fund – his third.

The move comes barely three months after Mr Meriwether decided to close his second fund manager, JWM Partners, which was wound down after clients saw the value of their investments fall by more than 44 per cent over the course of the financial crisis.

FT has links providing more information about this topic:

The storms that hit Meriwether’s fund - Jul-09

Meriwether’s JWM Partners winds down flagship fund - Jul-08

In depth: Hedge funds - Jul-09

Editorial Comment: Hedge-trimming - Oct-20