genuinely afraid in the face of Obama's power

Hedge Fund Leader Blasts Obama for "Bullying" and "Abuse of Power"


finance.yahoo.com...,%5Egspc, GM,ARM,DAN,GT,XLF?sec=topStories&pos=9&asset=&ccode=

Cliff Asness, whose firm manages some $20 billion of assets, has written an open letter blasting President Obama for his attack on the hedge fund industry in the wake of the Chrysler bankruptcy.

As you'll recall, hedge funds, which hold approximately $1 billion in Chrysler bonds, refused the government's offer to take approximately thirty cents on the dollar. Obama accused hedge funds of holding out "for the prospect of an unjustified taxpayer-funded bailout."

These comments have enraged many in the industry but few have spoken out publicly. Asness, whose firm doesn't hold Chrysler bonds, says the industry is genuinely afraid in the face of Obama's power. Stating that he himself is "fearful writing this," Asness still pulls no punches:

You know I am afraid too, I am afraid it is already to late.

reply to post by Stormdancer777


I feel it has been too late for some time now. Too late for old ways of thinking and doing things. During boom times, I often thought how artificial everything was. How people were programmed to be "consumers", above and beyond their means.

It was all an illusion and it is now crashing in front of the believer's eyes. The gov't is just making a money grab while the grabbing is good. To do it properly, they must keep up the illusion for a while longer, but not much longer now....

reply to post by Stormdancer777


Hedge funds and the like are the scum of the earth in my opinion and probably one of the main reasons we are in this financial mess.

So I hope they're afraid, very afraid. Because regardless of what happens they are not going to be able to get away with it for much longer.

I opposed Obamas bailout as much as anyone here, but he has recently stated that the financial institutions will not get any more money and this is a big step in the right direction, IMO.

Maybe this is why the hedge fund guy is so afraid?

Wow, maybe Obama is playing 'Good Cop' now?

Obama probably can't afford to write off anything anymore, both financially or politically, so he might just as well look tough rejecting any more offers even though the main bulk of his friends in the know have taken their loin's share of taxpayer's money, never to be returned back.

The rest of the cash moochers are picking at the shredded carrion like starving vultures after the bigger loins have had their run at it. It's too late for them. You can't squeeze blood from a rock.

Why should Obama give anymore money? The ransom has been paid, the elite families are satiated... For now.

Maybe that or he just wants to simmer down us sheeple in order to prolong festering feelings of rage to create the greatest negative emotional energy matrix from the population just in time for the 2012 emotional energy transfer for the path of the ascendancy of illumination for the Elites for their ritual

[edit on 6-5-2009 by star in a jar]

Where do people get the idea that Obama gave the money to the banks in the first place?

By far the majority of the money the banks got was from Bush and Paulson. As well as the Auto companies. Any money that's gone out from the Obama admin has been to protect the huge sums Paulson threw at them without any conditions. Apparently, you all would rather no conditions on the bailout money and get 'afraid' when someone looks out for the taxpayer's interests.

reply to post by Stormdancer777


Actually, that story has already been debunked. The guy who said he was threatened won't even confirm if it was true. Ohhhhh, maybe Obama put a gun to his head like Tony Montana!!? The anti-Obama crowd are collectively losing their damn minds in America...grow the # up.

I would sure like to see the American people get so screwed that they rise up in anger. I am thinking along the lines of the french revolution with months and months of execution entertainment. I think everyone should bring someone to the party especially if they were one that abused their power in the government. We need a great cleansing and it needs to start in washington and then move down to the state and county level. Just my opinion btw but We are screwed might as well hope the ones responsible will receive a little justice.

Actually the story HASNT been debunked.........just because the guy isnt saying much about it now doesnt mean anything. If anything it COULD mean that they have posed more pressure on him IE threatening to ruin him?

Im not surprised at all by this, this administration is in a constant state of Chicago politics.

Having just passed the "100 days in office" mark that everyone seemed to make such a big fuss about, Obama has more power than Bush had after his first four years.

reply to post by mythatsabigprobe


How much did Bush understand about the economy? Before being govoner all of his enterprises failed...

How much does Obama know about the economy? All of his personal trades on the market where huge failures... except his stock pick on a bird flu antidote that he helped write a bill to get the gov to buy........

But Bush and Obama both have the same advisors.. from the same companies.. who rcvd the vast majority of those funds...

My advise? Pull your head from your political arse and realize: the face changed but the ghouls are all the same.

The parties cannot be changed, the gov cannot be repaired... we need "change", and more then a promise this time..

[edit on 5/6/2009 by semperfortis]

Originally posted by semperfortis


[edit on 5/6/2009 by semperfortis]

Now I wonder what you posted.

What did you post?

Originally posted by MrVertigo
reply to post by Stormdancer777

 

Hedge funds and the like are the scum of the earth in my opinion and probably one of the main reasons we are in this financial mess.

So I hope they're afraid, very afraid. Because regardless of what happens they are not going to be able to get away with it for much longer.

I opposed Obamas bailout as much as anyone here, but he has recently stated that the financial institutions will not get any more money and this is a big step in the right direction, IMO.

Maybe this is why the hedge fund guy is so afraid?

Little bit absurd to call all hedge fund managers scum. Some are, some aren't. Some manipulated markets and stocks and commodities, others didn't. Some drove companies in the ground, some saved business and made them stronger.

Point is, this guy is right. Govt is not supposed to be vengeful. Govt should not go after an entire industry out of one person's anger, spite and point of view.

The fact that we have a govt that is increasingly vengeful and targeting certain groups and industries is very scary.