Trouble escalates for Iron Range native's hedge fund

  • Article by: SAIJEL KISHAN , Bloomberg News
  • Updated: December 9, 2011 - 10:23 PM

Philip Falcone's Harbinger Capital Partners may be sued by feds.

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walleyewaltDec. 9, 1111:02 PM

Falcone is small potaotes. The SEC needs to go after the mortgage fraudsters that bankrupted our country. Prosecute the real criminals!

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polarcat33Dec. 10, 11 8:28 AM

Falcone is a real crook too.

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ebenezerDec. 10, 11 8:32 AM

Big or small, we need to go after them all. The only way to stop these guys is to regulate them and vigorously prosecute them. Anyone who claims these folks are making their fortunes in fair competition with all the rest of us needs their heads examined. To deny the reality of what got this country and the world where it is today financially is simply inexcusable. If these moguls can't get over their egos and greed motivation, put them in an arena where they can feed off each other...not the average investor. And don't ever bail them out. Period. And if they fail while breaking the law, take every thing they have away from them and distribute it amongst the injured parties. Restrict the lawyers' takes, and be sure the vast majority of the recovery goes to the victims. How complicated should justice be?

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jimjimjimjimDec. 10, 11 9:06 AM

A mini John Corzine in our own backyard.

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nw5746Dec. 10, 11 9:34 AM

walleyewait - if $5.7 billion is small potatoes to you, I definitely want to get on your Christmas list.

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sanitynowDec. 10, 11 9:57 AM

What happened to innocent until proven guilty? I don't know the guy from Adam, but just because the SEC suspects something, come on. The SEC has a hair trigger since the mortgage debacle. Why aren't those involved in the mortgage collapse sitting in jail?

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nw5746Dec. 10, 11 9:58 AM

That's kind of strange how somehow the deer, elk, and moose populations existed all of those years before before man first tried to wipe out the wolves but now all of a sudden because the wolf population has rebounded all game species and farm species are in danger of becoming extinct! You have to look no further than Isle Royale to see the relationship of the wolf population and moose population. As the moose population increases, the wolf population does the same and vice versa. The big difference between that environment and the rest of the country is the fact that you don't have humanoids encroaching on their environment. Resorting to snaring and trapping these animals is just plain disgusting. If they are as over populated as those folks say they are, hunting should be pretty easy to make a quick, clean kill. As barbaric as this country is we still quit hanging our most vicious criminals years ago so why should wolves still be subject to such ruthless death.

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caribeDec. 10, 1111:37 AM

Yes, let's not interfere with the wealthy; we need "job creators" to continue to invest our money wisely....what can go wrong?

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davidf69Dec. 10, 1111:45 AM

Another Obama fund raiser in trouble

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davidf69Dec. 10, 1111:48 AM

Falcone is small potaotes. The SEC needs to go after the mortgage fraudsters that bankrupted our country. Prosecute the real criminals! You mean like Barney Frank and Chris Dodd??

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