Government and Economy
Obama: Small Business Key to Economy
In a speech welcoming winners of an SBA award to the White House's East Room, President Obama acknowledged that small business is responsible for half the nation's private sector jobs and so deserves support from Washington. Google.com/AP
Congress Failing American Small Business
While they talk a fine game, when it comes to action on supporting what they, themselves, describe as the “backbone of the economy” our legislators seem happier to play possum. HuffingtonPost.com
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The President’s sharp words against those investment companies—he called them ‘speculators’—who refused his 30-cents on the dollar ROI deal to keep Chrysler out of bankruptcy court, have been aired far and wide. Now, you should get the other side of the argument. In an open letter to the nation, Clifford S. Asness, the Managing and Founding Principal at AQR Capital Management, LLC, answers the President. His letter, obtained from Zero Hedge, is reproduced here in its entirety.
Unafraid In GreenwichConnecticut Clifford S. Asness Managing and Founding Principal AQR Capital Management, LLC The President has just harshly castigated hedge fund managers for being unwilling to take his administration’s bid for their Chrysler bonds. He called them “speculators” who were “refusing to sacrifice like everyone else” and who... [Read Full Article]