In a sad bit of news, German billionaire Adolph Merckle killed himself today by stepping in front of a train. The personal toll from the credit crisis continues to pile up. During the Great Depression, ruined investors jumped out of windows. Today, they are leaping in front of trains. On Sept 25, in the UK Kirk Stephenson, who helped start Luqman Arnold’s investment company Olivant Ltd., committed suicide by also jumping in front of a train.
It's unclear exactly what caused Merckle to take his own life. He owned large stakes in several businesses including Germany's largest cement maker HeidelbergCement AG and drug wholesaler Phoenix Pharmahandel AG. Bloomberg reports that his company owed banks about $6.7 billion. He own net worth was estimated at $9.2 billion although judging by his actions it's probably a lot smaller now.
Actions like this and reading about some of Madoff's victims make me wonder what I would do if I lost all my money. It's just money, right?
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