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The ITT List

Monday, Oct 20, 2008, 2:49 pm

A Modest Proposal

By Brian Cook

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Via Ezra, I really wish I had been as smart as this guy:

A hedge fund manager who made what is thought to be one of the biggest percentage profits of all time bowed out of the business on Friday with a fierce attack on the “idiots” running big banks who were willing to take the other side of his bets.

Andrew Lahde, founder of California’s Lahde Capital, ... who has made tens of millions of dollars from his highly successful bets against the financial and property sectors during the past two years, also called for the legalisation of cannabis and said he was now dropping out to spend time with his money.

You can read Lahde's letter---which suggests "a modest proposal" for dealing with the aftermath of the financial meltdown--- here. It's a real peach.

Brian Cook was an editor at In These Times from 2003 to 2009. He now works on the editorial staff of Playboy magazine.

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