When announcing that Chrysler would be reorganizing under Chapter 11 today, President Obama went out of his way to highlight the role un-named hedge funds played in pushing the auto-maker to bankruptcy.
“In particular, 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…Some demanded twice the return that other lenders were getting.”
This is a very good sign that the Executive Branch is aware of the high cost of unregulated greed.
