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Caught up in his own lies.

In reply to ProWI

A fascinating story. A brilliant guy.

In reply to nitro

how so? brilliant guys don't get caught.

In reply to camos

New definition of Brilliance:

Getting caught with ur pants around your ankle while tying ur show laces

In reply to camos

The son of a judge, he always has been. He grew up in New Jersey, attended Yale and then Harvard Business School and eventually wound up as the bankruptcy work-out specialist at the investment bank Rothschild, where he was known for his ability to quickly distill complex situations. "He was very, very sharp," says someone who worked with him back then. "Very tough." By the early 1990s, his unit was bringing in around $18 million a year, with Ross personally pocketing more than a third of that.

In 2002, his firm invested in the bankrupt steelmaker LTV. According to a Harvard Business School case study, LTV had put $1.2 billion into new plants and equipment but laid off 7,500 union employees and faced a $3.4 billion pension burden. As a master of work-outs, Ross knew he could get the federal government to take over the pensions. According to people who worked at the firm then, Ross told the unions he'd buy the business if they let him hire back just 3,500 workers. Figuring 3,500 jobs were better than none, the union agreed, and WL Ross picked up most of LTV's assets, without the pension headaches, for $135 million and about $165 million in annual environmental liabilities.