AIG may have written default swaps on Chrysler and GM

When questioned about AIG's history of writing default swaps for the Detroit car companies CEO Ed Liddy responded, "I don't know?"...  Why is this question so important?  This may be another back door bailout in the making.  How did Obama get all the major banks to agree to give up their debt in Chrysler?  Simple. Their money was guaranteed by AIG through a credit default swap, which our government bailed out 100%, which means the treasury paid back the banks for their "cooperation". Read.

Cliff Asness "I Am Ready For My 'Personalized' Tax Rate Now"

Great letter from a hedge fund boss about this newfound unwarranted populous rage toward the hold outs from the chrysler bondholders.  People need to understand that if a money manager feels that they can get more money for their investors through a bankruptcy process it is their fiduciary duty to do so.  Second, who are investors?  They are not billionaire mullah jihadists, they are school teachers, cops, and firemen who have their pensions invested in companies like chrysler. Get a grip Obama.  Read here.