Pali Capital Collapses, Shareholders Say CEO Ran Firm Like 'His Own Private Fiefdom'

The boutique derivatives and fixed income firm Pali Capital, Elinor Comlay writes, was "an oasis of prosperity," before suddenly imploding with Bradley Reifler, the company's "charismatic" and flashy co-founder and chief executive at the helm:

"For all his enthusiasm and charm, Reifler had a combative side. Most conspicuously, he had a tendency to sue, launching at least a dozen lawsuits against people and companies over the last 10 years...

According to former employees and people who reviewed the company's financial statements, Reifler's penchant for litigation helped destroy the bank he spent so many years building."

Read the whole story: Reuters

Comments

[mcmutter]

01:39 PM on 03/26/2010

....don't they always ....but its not much different in many of America's Fortune 500 companies either .... the average person would be surprised to find out how many little corporate fiefdoms are out there ....

[huff po fan]

06:27 PM on 03/11/2010

Another loser who is to dumb to know he is a loser

[pjwrites]

04:51 PM on 03/10/2010

Don't they all?

Those "entitled" few make me want to puke, they really do.

Where do ordinary men get the idea that they are better than other ordinary men? Ridiculous and self-deluding.

[pointyheadprodigy]

08:25 PM on 03/10/2010

I don't know if it is the self-chosen elite or the millions that tolerate, even encourage, these delusions that frustrate me more, but I think it is the thoughtless crowds who stand in admiration of these well dressed thugs that bother me the most.

[pjwrites]

11:23 AM on 03/11/2010

Truth. Mouths agape, wanting to be them. Sad.

[FoonTheElder]

04:50 PM on 03/10/2010

I want to hear the Repubs and Blue Dogs tell me again how the free market will regulate itself.

[CPAwADD]

10:14 PM on 03/10/2010

Greenspan used to think so too.

[Acharn]

07:11 PM on 03/11/2010

Well, he's a Republican. But it was an obviously crazy idea, adopted as pure dogma by the Chicago School of economists. I haven't gone back and researched the literature, but they must have had some pretty interesting arguments to overcome the evidence of centuries of experience in the Real World. It was technically called the Efficient Markets Hypotheses, if you're interested.