Skip to comments.Guess Who Hedge Funder John Arnold's Having Dinner With Next Week (Moochelle)
Posted on 10/25/2011 9:38:52 AM PDT by maggief
The "king of natural gas" will be dining with the First Lady.
On November 1st, Michelle Obama will headline a fundraiser hosted by the the young billionaire (via a Houston Chronicle blog).
From the piece:
"The super-wealthy hedge fund manager and his wife will introduce Obama to individuals who paid $10,000 for the privilege or couples who paid $15,000."
(Excerpt) Read more at businessinsider.com ...
fascism—the merging of totalitarianism with some of the corporate and finance.
Pssssst. OWS losers: This Arnold guy made his start up capital from his work at ENRON. LOL.
Who is this guy? Never hear of him.
John D. Arnold runs Centaurus Energy Advisors LLC, a Houston, TX, based hedge fund that specializes in trading energy products. After graduating from Vanderbilt University he began his career as a trader at Enron. After starting out working on the Crude Oil desk, John moved over to the Natural Gas Desk upon the departure of Jeff Busan. Using their new Internet-based trading network, Enron Online, he is credited with, taking three quarters of a billion dollars for Enron in 2001 and was rewarded with an $8 million bonus. According to Arnold , After Enron collapsed there was a general reevaluation of credit risk among energy companies. The better credits were less willing to take on the lesser credits as counterparties. So the lesser parties found themselves with fewer counterparties willing to trade with them, even though they still needed to hedge the pricing risks in their business.
When Enron collapsed in 2002, he founded Centaurus Energy LP with his previous years $8 million bonus plus additional funds raised from his short sales of Enron stock just before its collapse, and now has as much as $3 billion in assets under management. He also manages Centaurus Energy LP, Many of the funds employees are former Enron employees, including former CEO, Greg Whalley.
In Forbes list of the 400 wealthiest Americans in 2008, John Arnold ranked 163rd, with a net worth of $2.5 billion. According to www.muckety.com, John D. Arnold was acontributor to Barack Obamas Victory Fund in the past Presidential election, giving him $28, 500 on 7/31/2008.
Why aren’t these people in jail?
“The “king of natural gas” will be dining with the First Lady.”
Good. Maybe he will let out a lot of methane gas blow out his ass while dining.