Hang down your Head Evan Dooley.

stock777 · Mar 7, 2008

This was some sick bastard. Can;t beleive those idiots at MF couldnt spot his disease.

Or maybe they're all sick MF's

http://www.bloomberg.com/apps/news?pid=20601109&sid=axeRxkfcktg4&refer=home

MandelbrotSet · Mar 7, 2008

Wow, the guy had major issues.

Letting him work in the financial industry as a trader was like letting an alcoholic manage a liquor store.

Recipe for disaster.

NazSpaz · Mar 7, 2008

It's shocking they put a guy like this in a position to control so much money, he has more problems than a math book.

nazzdack · Mar 7, 2008

People should be given six chances to make a comeback, not seven.

Reaver · Mar 7, 2008

Quote from MandelbrotSet:

Letting him work in the financial industry as a trader was like letting an alcoholic manage a liquor store.

Good analogy.

Wayne Gibbous · Mar 9, 2008

If he had only gone long, those 15,000 wheats....

nkhoi · Mar 9, 2008

bad news;

...
Brent Dooley's 2002 personal bankruptcy filing lists $390,590 in unsecured debts linked to two commodities brokerages in Memphis and Chicago. ..
He also was behind by $10,252 in alimony and child support in late 2006, according to court filings.
...
Dooley's debts included $240,590 owed the now-defunct Delta Trading Co. of Memphis and $45,000 due a former trading partner there, Tom Bonds, according to bankruptcy documents. He also owed $105,000 to Kent Woods, the former branch manager of Tenco Inc., who is now chief executive officer of Futures International LLC, both of Chicago.
.....

good news;

MF Global spokeswoman Diana DeSocio said that when the company put Dooley on commission, it requested a credit check that missed his bankruptcy record.

``Nothing in the background check would have precluded his hiring,''

uh oh! news;

``I have tremendous fundamental and technical knowledge of all futures markets,'' he said in a resume in the divorce file.

RAY · Mar 9, 2008

Quote from NazSpaz:

It's shocking they put a guy like this in a position to control so much money, he has more problems than a math book.

I am not sure if I am reading this right, but I think he was pretty much unemployed with losses racking up in his personal accounts at REFCO, and then MF (who bought REFCO) decided to HIRE him ?? What were they thinking?

Before he was hired: "between 2002 and 2005, he reported $90,000 in personal trading losses. "

"Dooley's debts included $240,590 owed the now-defunct Delta Trading Co. of Memphis and $45,000 due a former trading partner there"

"...in 2003, according to his tax return. Included on the return is $24,225 in trading losses through an account at Refco Inc., later acquired by MF Global."

Hired: "MF Global spokeswoman Diana DeSocio said that when the company put Dooley on commission, it..."

Fired: "Last week, MF Global's Davis told analysts that Dooley, trading for his own account, was able to amass ``significant positions'' '