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Big yank respect is earned
The problem with hedge funds is, they try to muscle themselves in to get special shareholder treatment, like they are a different class of shareholder when in fact they really aren't. I have seen them really hurt themselves and other shareholders based on things they have tried to do behind closed doors on bankrupcy proceedings for example. I hope they have learned their lesson and don't try that here, because it just doesn't work.
1. wrong.
before the conservatorship the entities were gse's (government sponsored enterprises) and as such the government did have oversight (including capital requirements). they were at the time a curious public private hybrid. arguably this arrangement was "flawed", nevertheless the outline for their creation and function was quite specifically designated by the government as was forms of oversight within legislation regarding the gse's.
2. i am not claiming that hedge funds are morally superior. i do think that in this instance they are on the right side and are functioning how private sector entities are entitled/ encouraged to act under a system of capitalism.
3. yes, stealing. based on questionable arrangements to begin with, which were ultimately not followed for the financial gain of the US treasury. let's not forget that the need and form in which f and f were "saved" was carried out almost exclusively at the insistance of hank paulson who was the former ceo of goldman. geithner now works in private equity for warburg pincus. there is no moral difference between the individuals who run hedge funds and the individuals who were in charge of the bailouts.
Well-put...marked ya for it
I fail to see where the U.S. "screwed" anybody. FnF pre-conservatorship were pretty much valueless. You can argue until the cows come home about how much TBTF bank actions and/or favoritism enter into the cause/effect discussion, but Hank Paulsen's account, as well as Ben Bernanke's and MANY other experts, clearly predict a Depression without a massive intervention which few felt would ever see ANY recovery for the government. Those are facts, not just my opinion.
Whatever sweep proceeds go the the U.S. Treasury, I frankly do not see anything going to any individual for personal gain. I haven't seen Mel Watt's name on any real estate purchase summary for mansions in The Hamptons.
I completely agree that the hedge funds are no angels and it just so happens they are on the "right" side of this situation. Just circumstance I suppose. None the less, that is their nature and no one should be under any false guise about what the hedge funds goals are.
We should be able to ALSO assume the govt would be acting on our behalf at all times as well. This is why it is such a concerning situation to some. They trusted in the govt, as they should and were failed by them.
If we get screwed by a hedge fund, so be it.
If we get screwed by our own employees in DC, shame on all of us.
You are up 730%, and the U.S. is up just a smidgen above 100%.
I am happy for you. Kudos. And I will be happy when the U.S. Treasury enjoys swept money that matches your enormous returns.
I bet you didn't bail out FnF with $ billions of bailout funds, so at least show some respect for the U.S. who likely saved you from a total loss.
I think he doesn't want to. It's better for both parties to let courts decide. The republicans started the mess, but then the democrats created more. They can blame the hedgefunds for being greedy and suing for release. Everybody wins as long as the information isn't incriminating.
Yes they do. And those are the ones I tend to ignore with any information they provide.
The guy that said take profits yesterday when it got the 4's cas tomorrow it be back to 3.87 !! Just like he said.. Man!!! Was he spot on!!
Prior to the conservancy as an emergency measure, the government did NOT have any oversight over FnF who were private enterprises. Right?
When the entire economy was threatened with a meltdown and collapse of banking and financial markets, all manner of drastic, immediate measures were undertaken to avoid spinning the U.S. into another Great Depression. Some were good measures, some in retrospect were not. But NO action would have had disastrous consequences. Right?
Much of the meltdown was, in fact, a result of banks operating under self-serving policies and the U.S. government dictating socially engineered laws and direction once the conservatorship was set in place, that contributed to FnF's woes. I agree with that view.
But to claim that the government "stole" from its citizens is absurd and to claim that hedge funds have some moral superiority under the law is a farce of almost biblical proportions.
JMHO.
I saw a few 10,000 share orders go thru in the last minute, but never saw those numbers on my platform on either buy or sell side
Exactly
Thank you.
Thank you
Lol thanks
Yea!!! Close at LOD!! Tomorrow not looking good!! Pisses me off!!