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So Obama is calling them out. “A group of investment firms and hedge funds decided to hold out for the prospect of an unjustified taxpayer-funded bailout. They were hoping that everybody else would make sacrifices and they would have to make none,” Obama said.
Some of the hedge funds, Obama said, demanded returns twice as high as other lenders were getting.
The same crowd gave us $4 gasoline by manipulating the commodity market, same with Sub prime same with Enron same with mortgage crisis. I would like to see some big changes. Most of all I want the hedge boys to pay taxes on their income as ordinary income.
obama says firms are making "bets" when they by insurance for bonds and he calls investors "speculators"
what he doesnt say is that the investment firms are managing teacher, police officer and fire fighter pension plans. these firms have a legal obligation to get what is legall owed to their clients.
I draw the line when the big money hedge-speculators use their money to artificially manulipate a market to an end result as they did with oil, until the light was shined on them...read Goldman Sacs.
Yep he's da man alrighty... He just cost everone in the nation billions by trying to subvert bankruptcy laws and pay back the UAW by putting them ahead of the debt holders and forced the company into BK. Now all the money they were given by the government is lost.
Spin that!
God forbid someone should bring up what is actually legal, it might get in the way of Obama's grand plan...
obama says firms are making "bets" when they by insurance for bonds and he calls investors "speculators"
what he doesnt say is that the investment firms are managing teacher, police officer and fire fighter pension plans. these firms have a legal obligation to get what is legall owed to their clients.
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