They say money can't buy happiness, but it can sure take the sting out of being unhappy

lambert's picture

Or not. Wonder how many of the geniuses who looted the mortage system in the subprime debacle lived like this? My guess: Most of them. Or will die like this? My guess: Not many. They'll live out their lives with their ill-gotten gains, rather like Nazi concentration camp guards. The Times has the "lurid" details:

A life of private jets and black-tie balls ended with Seth Tobias, a wealthy investment manager and a familiar presence on CNBC, floating face down in the swimming pool of his mansion here.

Mr. Tobias ran a $300 million hedge fund from an office on Park Avenue.

Mrs. Tobias spent $9,628 to have the pool drained and resurfaced days after her husband died, according to documents filed in an unrelated case.

Mr. Tobias made — and apparently spent — millions of dollars a year, court documents suggest. Outstanding expenses at the time of his death included $52,532 on his American Express Centurion Black Card and $7,960 on his Bank of America credit card. He paid $1,367 a month to lease a Land Rover. His monthly cable bill from Comcast was $535.19.His mortgage payment for one of his homes was $35,000 a month.

The "Centurion Black" card. Don't you love the imperial imagery? And I bet Tobias didn't have any trouble with his mortgage, eh?

Of course, Tobias was a piker, a small-time shill roping the marks in over the teebee:

But the boyish Mr. Tobias never ran with the titans of Wall Street. He was a small player in an industry where successful managers command billions or even tens of billions of dollars. Nonetheless, Mr. Tobias managed to make a name for himself on financial-news television, appearing on “Squawk Box” and “Kudlow & Company” on CNBC.

Does make you wonder what the titans were doing with their money, doesn't it?

When the police arrived, Mrs. Tobias, on the advice of a friend who is a lawyer, refused to let them enter the house, which is perched on the edge of the sixth hole of a Jack Nicklaus-designed golf course in a gated community.

The moral of the story?

Children, don't ever go near anyone who plays golf.

NOTE Page 2 gets even more lurid. Here's a sample:

... It was there, according to Mr. Ash, that Mr. Tobias first met Tiger. ...

I wanted to focus on the money aspect, as opposed to the money shot aspect, so I didn't focus on "Tiger," who makes "Jeff Gannon" look like the provincial banality so appropriate for the Village.

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