"MoveOn.org Political Action has released radio ads asking key Democratic members of the House and Senate to support President Obama's budget. The ads tap into the populist outrage over AIG's bonuses and remind voters that the Obama budget would make AIG executives and hedge fund managers pay more in order to invest in economic recovery."
Sunday, March 29, 2009
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Lets remember here that most hedge funds have been performing well and are not to blame for the crisis.
AIG effectively ran a hedge fund when they shouldn't have and the consequences of this were dire. There should be regulations to prevent companies such as AIG from running hedge funds.
Cracking down on hedge funds as a financial instrument misses the point. It was wrong for an insurance company such as AIG to take on as much risk as they did. That said, the AIG debacle does not warrant cracking down on an entire industry.
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