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

The US govt is guaranteeing almost everything! When US sovereign creadit rating gets downgraded due to inability to finance or default or credit migration, all these so-called guarantees will be worthless! All these guarantees will go up in a smoke! I can see that happening over the long term for America. Suffer the consequence of unchecked massive spending & printing USD.

Screw hedge funds.

Yep, screw the hedge funds.

Screw the unions - they have been the problem in America all along - 21st century mob.

People, you do realize that the odds are that YOU have some of YOUR money in these bonds managed by these hedge funds through your 401(k) and/or other retirement plans...right?!?!

BAC needs a 33 BILLION dollar cushion. Cushion? isn't that a Bush style buzz word that we grown use to. Every three months a new buzz word was created to replace the words 'things are bad'. Now they are not bailing out or stimulating, they are cushioning the banks. Next they will go for a more finacial term. The banks will need an additional draw down of capital from the FED, or have they used that one already? In July they will call it Holiday cash. Bank of America and Citi need Holiday Cash of 50 Billion dollars more.

The hedge funds have forgotten who caused this financial crisis. Many small investors couldn't sell their 401-K holdings last fall, when hedge funds were selling huge amounts daily. That selling hurt the little guys terribly, while the hedge funds got their funds out of the market mostly intact. It is the over-leverage on the part of hedge funds, the banks, and all of the financial institutions that caused this problem. Those same institutions should not be protected further, regardless of their owners influence. IMHO

whoopee! sumone with ba!!s speaks out.....did u hear tat Henry!

Again people are missing the boat. Senior Debt has priority, that is what our American system is built on. Debt holders get priority, they may not get 100 cents on the dollar, but that is why we have bankruptcy. But the government is stepping in and messing up the process and choosing favorites. This is a big problem, because on one hand we want to help the credit markets but on the other hand we are adding risk for the debt holders, which in turn will change their propensity to invest in the first place. Let Crysler, GM, and Ford burn. They go bankrupt, the Union has to pull their head of their ass and maybe only one or two viable car companies emerge. That is how it works, it is painful but necessary. The alternative is to throw more tax payer money down the rabbit hole.

So you think giving the bond holders 30% on the dollar and the union 55% stake in Chrysler is going to make Chrysler viable? This is nothing more then a Russian style union take over backed by the full power of the government.

It is surprising to me that the populist sentiment and support for BO's attempt to takeover our finalcial system is so strong. It's obvious that there have been abuses of the system, including illegal ones, but this isn't one of them. Some of the comments here illustrate a high level of anger and a low level of comprehension. Be careful what you wish for...

Praise the Managers for standing up for themselves against and tyrant. It should inspire all of us to do the same.

I get all of your angst towards the hedg funds, I have it too. But I believe the real point that Asness is getting at is bigger than the hedges. What give the President the right to attack specific indistries? He and his administration are reaching way too far into the Capitalist machine. The efficiencies are skewed, and now when the machine is beginning to repair its kinks, they will take huge profits from the $'s they forced into it...but we will still be heavily taxed. Spending goes up and nobody cares. The President kicks out CEO's and nobody cares. Will it end? I applaud Asness for sticking his neck out, even though he's a hedge fund proponent.

Me thinks Mr. Asness does protest too much, and he also spouts lies. He states that a hedge fund has never been bailed out before. Maybe he means in this debacle, but Mr. Greenspan used public funds to bail out one several years ago. Of course, it was his frat brothers running the thing.

It't about time someone stands up to Obummer. All he was trying to do was protect his union votes. He still doesn't know the first thing about running a business.

Damned if you do and damned if you don't. If you go with these guys and make money, these guys are your hero. If you go with these guys and they lose money. they are hated. You got Obama playing the crowd and the crowd is buying into it. If the hedge funds had private equity ownership in Chrysler, why did Chrysler get taxpayer money in the first place? Obama wants to come across as some kind of savior to Chrysler and he screwed them over. Now, he is trying to supplant the blame onto the hedge fund people... This Obama guy likes to tell everyone to tighten their belts and I am looking to when he is going to start tightening his belt? Is Obama ever going to man up on anything?

Greedy hedge funds surrounded by firing squad and angry civilians! Nowhere to escape. lol.

Cliff Asness better shut up or he will find himself on a "Right Wing Extremist List"

I have no patients for greed and liars. Our leaders whether repubs or dems. showed no leadership and let business go wild. Humans are greedy. Business has a responsibility to more than just shareholders. Its community, workers and enviroment must be top priority. Regulation must be put back in place, NOW! The great communicator screwed everything up.Unions are a must in the construction setting due to heavy greed and cut throat tactics of business.Its not hard to understand, be moral and life will be fine.

Ironically, at this point, I think a short position is the patriotic thing to do. What do I mean by this? The market is behaving completely irrationally at this point. Yes, there is good news. But enough to justify 35% in two months? A short at this point is a plea for a rational market correction! When are we going to calm down and THINK instead of being yanked from highs to lows by our balls and base emotions?