Tag Archives: financial markets
Unafraid In Greenwich Connecticut
Fund managers have a fiduciary obligation to look after their clients’ money as best they can, not to support the President, nor to oppose him, nor otherwise advance their personal political views. That’s how the system works. If you hired an investment professional and he could preserve more of your money in a financial disaster, but instead he decided to spend it on the UAW so you could “share in the sacrifice”, you would not be happy. Continue reading
April Employment Report Showers Doubt on Detroit Bailout
The Obama Administration has used its clout to pressure many of Chrysler’s creditors to take large losses on their holdings while protecting the United Auto Workers (UAW). This will make lenders reluctant to extend secured loans to other heavily unionized companies, further aggravating the problem of unionized companies losing more jobs than non-union companies because they invest less. The weak job market shows that this is no time to manipulate the financial system to reward politically favored interest groups. Continue reading
