Read the following linked stories and the comments at the end of the article about the latest wave of hedge fund managers running for the exits from the burning buildings of the Treasury and G20 bailout air with more air programs:
One of the major problems with Hedge Funds were their use to bet against stocks and national currencies in hopes of selling short and causing a collapse. It was only because President Bush banned short selling during the earlier days of the stock market slide that prevented doom - the result is we're in a nasty recession but not yet a depression! These heads of Hedge Funds are generally the anti-heroes, a few who collect upwards to $1 billion annual compensation for gambling with people's money. Don't look for them to save our economy because their area of expertise is in crashing markets and monetary funds. If anything good comes out of their actions, it's collateral.
Tony Lee
of CA
@
Mar 25, 2009 16:02:05 PM
Let's not assume
that these guys are heroes and the far larger number of bonus recipients at AIG (who received a mere $165 million TOGETHER) are villains.
WHERE, OH WHERE IS THE 70% INCOME TAX WE OUGHT TO HAVE ON INCOMES OVER TEN MILLION A YEAR? Do you think that the actions of these guys who earned hundreds of millions each were a net plus for the overall world economy? Do you think they are "job creators"?. Do you think they help us avert recessions? Do you think there were no losing counter-parties to these guys' trades? Do you think that the U.S. Government does not need revenue for its ever-growing deficits?
Kirk Shinkle is a senior editor at U.S. News. He writes daily about ups and downs in equity markets, sectors and stocks. Formerly, he covered business and economics on both coasts for Investor's Business Daily.
Alex S. Gabor of WA @ Apr 08, 2009 04:15:33 AM
Tony Lee of CA @ Mar 25, 2009 16:02:05 PM
Muser of NM @ Mar 25, 2009 11:22:52 AM
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