Walter or his biggest fan - posting all day all over this thread in an attempt to re-build his name and pre-market some hedge fund he plans to open. Isn't that a hoot?
Too bad he didn't think about this before his name was already in the sewer. He can hide behind the LLC all he wants, but everyone knows that he WAS Worldco LLC... that is until things went bad and his office was an empty fishbowl and his big leather chair had been cold for months. He didn't go down with the ship, he was the very first man overboard.
All of his money was out, free and clear to be used for new ventures, like this hedge fund he is now pre-recruiting for here. The traders was left holding the bag. The traders should be thankful to the creditors for making favorable settlements, otherwise they would not have gotten back 2/3 of their money. Walter and the rest would never have left their own money at risk to face that situation, only the trader's. Now he seems to think that since you got 2/3 back that means that all is well and good. Sure, it is good that they got 2/3 back, but that does not change the facts of what was done how the money was locked up at risk against all of their debts.
Yes, Walter Bruan made a lot of money from Worldco, but in the end he and the rest did not do the right thing by the traders - the guys who made him wealthy. A real hero, a real titan of Wall Street would have called each and ever trader and apologized for the situation. A real king would have taken some personal responsibility instead of hiding behind an entity. A person of character and integrity would have made the relatively small sacrifice, compared to what was gained over the years, of using his own resources to make the traders whole. Instead, in the end, all of the nice words spoken amount to nothing. All of the bonds were broken.