http://www.tradingmarkets.com/.site...e-Funds-Spending-Slumps-Stocks-Mixe-81071.cfm http://www.americablog.com/2009/05/obama-rips-hedge-funds-over-chrysler.html This is encouraging news and suggests the Obama administration has had enough of the Wall Street extremists who are only too happy to sponge from taxpayers. They all thought they were going to get a better deal and Obama told them to drop dead. Hell yeah and good for him. "For too long," Obama said at the White House, "Chrysler moved too slowly to adapt to the future, designing and building cars that were less popular, less reliable and less fuel efficient than foreign competitors."....... http://www.tradingmarkets.com/.site...e-Funds-Spending-Slumps-Stocks-Mixe-81071.cfm
On Bloomberg crawler this morning it said, "government doesn't expect to get much of their $4B back"... So, the taxpayer just GAVE Chrysler/UAW $4B for their Jobs Bank? Sweet!
Obama say's he's had enough, and talks the tough game, but in the end he'll do nothing. Just pure bullshit political talk. There are many Democrats and Republicans alike that benefit from these hedge funds in one way or another, so I wouldn't expect a damn thing to happen. Again, just the usual tough talk political bullshit to make it look he's outraged. lol
Obama is trying to rip off the senior debt holders and give the bulk of the company to the union. I expect this one to go all the way to the supreme court, as I suspect NY was chosen for the BK filing for a reason. Odds are Chrysler will be liquidated at some point.
The witch hunt has begun. Its possible that within a year "hedge fund" will become a curse word.... surf
haven't you noticed the 'rebranding' that's been quietly going on. Many hedge funds have changed to 'investment funds' Anything to keep the money rolling in and to stop the redemptions.....