The Three Money Managers Of The Financial Apocalypse
Tuesday, January 20, 2009 at 08:19AM 
There is plenty of blame to go around for the sub prime mortgage crisis. The amount of toxic assets on the balance sheets of the largest financial institutions in this country is truly staggering.
Its now obvious that for years, greedy CEO's have pocketed billions in compensation and bonuses while their firms sold products without regard to risk.
Meanwhile, career politicians in Washington,D.C.protected the dubious lending practices of government backed financial institutions and used their political contributions as a funding source for their next campaign.
The problem of all this corporate greed became a systemic economic crisis when government regulators and ratings agency's did not do their jobs to highlight and punish the corporate perpetrators.
However, in the years ahead, after this economic crisis has finally run its course, the greed and the financial destruction of this period of time will best be remembered by the behavior and greed of three money managers.
Lets look at the three money managers of the current financial apocalypse.
Seventy Five Year old Arthur Nadel has gone missing. The money manager of the funds branded Viking, Valhalla and Scoop may even have committed suicide. It looks like 350 million of investor money is gone in what well may be the largest swindel in Florida history.
Marcus Schrenker was in stable condition last week at a Tallahassee hospital, recovering from a suicide attempt. The Indiana financial money manager will be taken to Pensacola for a court appearance on charges that he intentionally crashed his plane and made a phony distress call. Schrenker's plane crashed in Florida last week, but his body wasn't inside. It looks like he faked the crash to try and escape financial ruin and divorce. When Schrenker took off from Indiana, he already faced some $9 million or more in potential and actual court judgments and legal claims.
Of course, the poster child for the current period of greed and excess in the financial services industry is still awaiting trial and has not yet seen the inside of a jail. Bernie Madoff has already told authorities that he ran a fifty billion dollar Ponzi Scheme and victims of his fraud can be found worldwide.
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