Ahem, weren’t, as I seem to recall, hedge funds that were part of the problem to begin with. Cliff?

I have no sympathy for the hedge funds.  This guy is mad becasue they will not be able to make money on the failure of Chrysler, as they are accustomed to making——by betting the price will go down, and sometimes even manipulating the price of the stock, to make it happen…and then pocketing the difference between what it ‘was’, and what it is now—-while all those who paid full price…ie those who do NOT put their money into the hedge fund—-someone like me, and may retail investors—-lose their butts AND their money!!!!!  Hedge funds are the thiefs—not the victims….

 

I think this is ‘fair play’….after all…..the ‘game’ of playing the stock market, is like any other game—-sometimes you win, sometimes you lose…..the hedgies are just ticked off because they aren;t the ones who are changing the rules, mid game, like they used to!  hahahaha

 

Of course, it COULD be that this Asness guy (oh look!  it rhymes with As****) is just blowing off steam so that his clients think he is working on their behalf….gheez….real world sucks, doesn;t it, Mr Asness?

Just thought of something else—-Mr. Asness is all about getting as much money as HE can—-good thing HE didn;t run for the Prez, isn’t it? 

Chrysler Fallout

What the bankruptcy means for various groups.

Car buyers: Warranties remain in effect.

Workers: Most production plants will shut until the Fiat deal closes. Chrysler will pay up to 50 percent of weekly pay. Workers also can apply for state unemployment benefits.

Retirees: No change in pension plans.

Dealers: Total will be cut by an unspecified number

My dears, another interpretation of Cliff Asness’ statement to his investors is this:

"I lent your money to a company that can’t pay you back, but I will fight for to get every cent I can from them for you."

Not terribly compelling argument from where I sit, dahlings.

 

Hedge fund managers played a game of chicken with the government and would not deal-   so hedge funds how is bankruptcy working for you?  No sympathy here.

I am glad the workers get some protection especially retirees.  I know Republicans wanted the pensions and health care to go away.

There is a crime in all of this and it is the fact that we, the American people, bought this for the union. We put out most of the money yet will get nothing back. I am all for saving jobs but at ANY cost? No …. we should be the major shareholders in this and instead the union is - and by the way the money we gave towards all of this is ‘free’ to the union and is not a loan. Sink or swim they get to keep it. Wonder if any of this had to do with the huge contribution they made towards Obama’s campaign?

 

I am glad pensions and jobs were saved.  I would much rather give money to Chrysler than Halliburton or fight useless wars.   If they succeed we get money if not we loose.  

You can say it was campaign contributions that is no worse than the banking industry controlling the senate.    The business is done in washington it will take many years to dismantle corruption.