President Obama's newest opponent in the financial industry is a man named Clifford Asness. ABC News reports that Asness is a money manager for the firm AQR Capital Management and has rocketed to fame among conservatives and hedge funds for his harsh critique on Obama after the President went after hedge funds, laying the blame on them for forcing Chrysler into bankruptcy.
Asness wrote a scathing letter a couple days ago entitled "Unafraid In Greenwich Connecticut," in which lambastes the President for attacking hedge funds just because they're unpopular and not for any legitimate reason. An excerpt of the letter is below. Click here to read the whole thing.
...the President screaming that the hedge funds are looking for an unjustified taxpayer-funded bailout is the big lie writ large. Find me a hedge fund that has been bailed out. Find me a hedge fund, even a failed one, that has asked for one. In fact, it was only because hedge funds have not taken government funds that they could stand up to this bullying. The TARP recipients had no choice but to go along. The hedge funds were singled out only because
they are unpopular, not because they behaved any differently from any other ethical manager of other people's money. The President's comments here are backwards and libelous. Yet, somehow I don't think the hedge funds will be following ACORN's lead and trucking in a bunch of paid professional protestors soon. Hedge funds really need a community organizer.
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