2 posts tagged with finance by the mad poster!.
Displaying 1 through 2 of 2.
Financial Markets, Politics and the New Reality: "Louis M. Bacon is the head of Moore Capital Management, one of the largest and most influential hedge funds in the world. Last week, he announced that he was returning one quarter of his largest fund, about $2 billion, to his investors, [saying] it is impossible to make money when there is heavy political involvement, because political involvement introduces unpredictability in the market… Adam Smith and David Ricardo, who modern investors so admire, [never] used the term "economics" by itself, but only in conjunction with politics; they called it political economy… The investors' problem is that they mistake the period between 1991 and 2008 as the norm and keep waiting for it to return."
If you’re elected president,” asked one guest at a 2007 hedge fund managers event for Obama, “what will you do to the taxes on the people in this room?” “I’ll raise them,” Obama fired back. The managers, who share social circles and an educational background with Obama, approved of his style. These days, however, the bloom is off the rose. In The Big Split, Alec MacGillis investigates the souring of a 20 year relationship between Democrats and high finance, and surmises that it's the administration's rhetoric more than its policy that has upset the masters of the financial universe.