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Poorly Hedged

In an interview with Cassandra investor Jim Chanos, reporter Bess Levin inquires as to whether the now-famous 2007 leveling of Chanos' Further Lane hedges (right) by neighbor and former Goldman Sachs managing director Marc Spilker inspired the first 'Hate Goldman Trade.' Chanos' response: "I wasn't the first on the 'Hate Goldman Trade,' I was the first to point out that certain Goldman bankers acted as if the rules of society didn't apply to them. It led me to vent at the time that it seemed that Goldman was not putting clients' interests ahead of its own. And I think we'll leave it at that." Indeed. [Observer]