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2009-05-06 — blogspot.com

Let’s also mention only in passing the irony of this same President begging hedge funds to borrow more to purchase other troubled securities. That he expects them to do so when he has already shown what happens if they ask for their money to be repaid fairly would be amusing if not so dangerous. That hedge funds might not participate in these programs because of fear of getting sucked into some toxic demagoguery that ends in arbitrary punishment for trying to work with the Treasury is distressing. Some useful programs, like those designed to help finance consumer loans, won't work because of this irresponsible hectoring.

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Max_D at 01:50 2009-05-13 said:
Cliff Asness, a hedge fund manager who is upset with President Barack Obama's plan for the Chrysler reorganization. Asness is upset because he says that senior creditors (including many hedge funds, although not his own) are being screwed in the deal. Cliff Asness has decided to break rank despite of people in the financial industry have been keeping mum lately. Cliff Asness, from AQR Capital, let President Obama have it, after the chief executive announced his discontentment of how hedge funds were held back from investing in Chryller LLC and with their restructing deal, while their bankruptcy negotiations were ongoing. According to Asness, the hedge funds manager has the responsibility to their clients, and granting debt relief to a company in bankruptcy isn’t among them. Which means, that he doesn’t have to invest nor participate in any deal he doesn’t think will make his clients money, and keep clients out of wanting short term loans is what Cliff Asness does for a living.For further reading click: http://personalmoneystore.com/moneyblog/2009/05/06/cliff-asness-obama-chrysler/ Permalink

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