Monday, March 23, 2009

Hedge Funds and Toxic Assets: Obama Reaches Out For Help From Those He Demonized

What I find most amazing out today’s announcement by Timothy Giethner is it requires the same hedge fund managers, which Obama and the Democrats have demonized, to be on board to help out. Obama is asking these people to help him save the banks from their toxic (legacy) assets through a series of auctions. I think I would laugh in Obama's face. Obama is reaching out to the same people he is telling he wants to increase taxes on and regulate their pay. Walk away hedge fund managers, walk away. Look what this administration did to the AIG employees they made an agreement with regarding their bonuses.

Is this change? It looks like politics as usual.

Posted by Bungalow Bill
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3 comments:

  1. Yes i wondered after Congress had their hideous tantrum how they excpected a public/private partnership to take place.

    ReplyDelete

  2. Obama changes his tune so quickly and so often its really amazing.

    ReplyDelete

  3. @RightKlik - Isn't that what he promised? Never-ending change? Haha

    I'm really curious about the outcome of this buyback plan. It just doesn't seem very rational to me, trying to stop the inevitable. First he should reconsider his actions and look at what he has done so far...

    Take care, Lorne

    ReplyDelete

Sorry about the captcha. I hate them just like you, but the spambots have gotten ridiculous.

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