Unafraid In Greenwich Connecticut

A hedge fund manager finally stands up to the bullying of Chrysler bond holders by the POTUS, saying that investment firms and their clients have a right to the profit of their investments, and do not deserve the castigation for not "sacrificing like everyone else."

Here's a shock. When hedge funds, pension funds, mutual funds, and individuals, including very sweet grandmothers, lend their money they expect to get it back...

The President's attempted diktat takes money from bondholders and gives it to a labor union that delivers money and votes for him. Why is he not calling on his party to "sacrifice" some campaign contributions, and votes, for the greater good? Shaking down lenders for the benefit of political donors is recycled corruption and abuse of power.

Cliff Asness "I Am Ready For My 'Personalized' Tax Rate Now"