Posted on 05/08/2009 7:29:48 PM PDT by JohnRLott
So much for any hope that the government would uphold rules and abiding by contracts. Instead, we keep getting examples of something else that when President Obama fails to persuade firms to follow his wishes, he does not hesitate to use threats of financial destruction.
Cliff Asness, the co-founder of the $20 billion hedge fund AQR Capital Management, laid bare the latest attacks with an open letter on Wednesday:
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.
This is just the latest in a string of intimidating tactics starting with threatening costly public audits to get compliance. Then there were the threats of firing CEOs who had the audacity to oppose government plans. The very latest is threats to use the full force of the White House press corps [to] destroy [the firm Perella Weinberg's] reputation if it resisted the government stealing their money, according to Thomas Lauria who represented the firm up until last week. ABC Newss Jake Tapper reports that Mr. Steven Rattner, the head of the auto task force, made the threat.
The White House has been pushing hard to nationalize the automobile companies. . . . .
(Excerpt) Read more at foxforum.blogs.foxnews.com ...
Thank you so much for getting this out there.
Let the worthless Kenyan bastard try it, and see what happens!
BTTT
Thank you. Don’t be a stranger.
Often called “fascism,” this system of leftist oligarchic government combines state control, a charismatic leader, and the use of state institutions to subvert the rule of law, contracts, and associations among individuals.
We’re boned.
In some respects, "Obama the Kenyan" development is a mirror image of Clinton the Arkansan".....
.....Clinton was a thug in Arkansas, went to Washington, and by the time he left, he was nothing but a two bit punk.
.....Obama went to Washington a two bit punk with no experience. He is rapidly becoming a first class thug, complete with our tax paid resources as enforcers.
Obama is dangerous. He is getting bolder and more brazen by the day. His followers do not even see it.
Summarizes the viewpoints of many frustrated Americans out there who are sick and tired of a pathological liar going around the USA lecturing us on how to live.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.