Here is a Goldie Oldie that you may remember.
Do you remember this or are you too young?
Can you guess who the governor is in this story?
Lax Enforcement or No Enforcement By the Governor... the state pollution control agency reissued the license for [the Big Agriculture] plant on the condition that the company meet with city officials to work out a plan for treating its wastes. But the state never enforced the order, and … the waste from the plant seeped into the town's drinking water. Residents became ill, and 15 months later [the Governor] declared the town a disaster area.
Meanwhile, the Governor’s Wife Makes Big Money with help from Big Agriculture And Commodities Trading[the Governor’s wife] was guided by ..., a friend, lawyer, outside counsel to [Big Agriculture], ... in turn traded through, and relied upon … expertise from, broker Robert L. "Red" Bone of Refco, a former [Big Agriculture] executive …
At one point she owed in excess of $100,000 to Refco as part of covering losses, but no margin calls were made by Refco against her.
The Money Makes a Big Difference in their Life[the Governor’s wife] engaged in a series of [speculative investments]. Her initial $1,000 investment had generated nearly $100,000 …
The proceeds helped them to buy a home, to invest in securities and real estate and eventually to provide a nest egg for their young daughter, according to the couple's associates and a review of the family's financial records.
Not Worried About A Perceived Conflict of Interest?If [she] was worried about the perception of a sweetheart deal between herself and someone who represented the largest agribusiness ... while her husband was Governor, it didn't show.
Failed to Report Income to the IRS…. said today that [the wife of the former Governor] made $6,498 in a [speculative investments] venture … and never reported the profit to the Internal Revenue Service.
The disclosure was the latest in a series of revised explanations ... [the wife of the former Governor] had previously said through her lawyers and aides that she invested $5,000 in the account, lost $1,000 and withdrew from additional trading ...
After disclosing the problem today, [they] paid the Internal Revenue Service and the ... state government $14,615 in back taxes and interest.
100X Return on Investment in Under A Year. Luck or Something Else?This paper investigates the odds of generating a 100-fold return … The tests are constructed to give the investor the benefit of the doubt whenever doubt exists. The most conservative finding is that the probability is one in approximately thirty-one trillion. Assuming that the return is made in the most efficient way possible, this probability falls to approximately 1.5×10−16.