Thursday, September 29, 2011

Volatility Update: World’s Largest Listed Hedge Fund Teeters

Well, we are right back to where we said we would be when President Obama, economists and Wall Street declared the recession over in 2009.   What recession?  This isn’t a recession.  It’s a cliff we sit upon as we head to the new normal somewhere in the nether regions below.  The hell we all get to visit courtesy of the unstable minds who created this mess.  Now that the financial crooks have spent all of the free money Grandma’s Social Security-threatening bailouts can muster, we are back to the financial industry being exposed as systemically-incompetent and morally-bankrupt.  You can put all of the lipstick on the pig you want.  Ain’t no one ever gonna kiss it again.  Ever.  Checkmate.

With senior management rushing into the buy shares in Man’s stock, this is eerily reminiscent of the financial idiots rushing in to buy equity shares in 1929 only to lose everything.   They thought it was all a confidence game.  Well, it is a confidence game.  A con(fidence) game.  A swindling.  Ain’t no one left to swindle.  Guess who’s holding the bag?  The investor class.  Wall Street.  And the political toadies who enabled the game. 

Remember, before this crisis passes, hedge funds go bye bye.  

posted by TimingLogic at 1:37 PM

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