Saturday, June 29, 2013

RIP Marc Rich

Marc Rich went to his reward the other day.

Not sure what that would look like. Seems he pretty much had the "reward" while he was here.

Not a whole lot ever went too far wrong for Marc. His intellectual spawn continue his work at Glencore. The unofficial voices that talk off the record to the think tank here at Falling Downs claim he was knee-deep or better into the goings on at Glencore till the day he died.

The biggest tax fraud case in US history was resolved (sort of) by Clinton's pardon. Nevertheless Marc steered clear of US airspace, let alone US soil, for the rest of his life.

The obits claim he "invented" commodity trading. That's not quite true. He may have helped it evolve.

There were many who followed who built it into something Rich wouldn't even understand. It's one thing for sharpies in Zug to trade a barrel of oil 27 times between the well-head and the consumer.

Today's Rumpelstiltskins have their computers trade blue chips 2700 times a second.

We've come a long way...

Be that as it may, I think overall Marc Rich did more good than he did harm.

And that's probably the best legacy any man can leave behind.

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