Finemore would like the grave mistake he was lauded for owning in 2013 to ebb away in 2022.
But back to Finemore, whose self-image has rebounded sufficiently from the ignominy of– close to the greatest risk-on opportunity in 30 years – because he was “nervous about the state of the world”.
Like so many rich and powerful people, the freebooters of high finance are noted for their self-delusion, but it is nevertheless astonishing when they verbalise it.Finemore resigned from the board of the ASX because his hedge fund was caught by the US Securities and Exchange Commission engaging in illegal short-selling.– short-sold two million Citigroup shares on the same day in 2009 that Citigroup announced the pricing of its capital raising, in which Manikay was allocated 30 million shares.
To render himself more agreeable for polite company, Finemore now wants this illegal short-selling remembered as a parking ticket. That he resigned, but didn’t really need to – indeed, shouldn’t have.Why shouldn’t the ASX have been sensitive? It enforces the listing rules and corporate governance standards of around 2000 companies whose shares trade on its market.
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