Cliff Asness has decided to break rank despite of people in the financial industry have been keeping mum lately. Cliff Asness, from AQR Capital, let President Obama have it, after the chief executive announced his discontentment of how hedge funds were held back from investing in Chryller LLC and with their restructing deal, while their bankruptcy negotiations were ongoing. According to Asness, the hedge funds manager has the responsibility to their clients, and granting debt relief to a company in bankruptcy isn’t among them. Which means, that he doesn’t have to invest nor participate in any deal he doesn’t think will make his clients money, and keep clients out of wanting short term loans is what Cliff Asness does for a living.
Cliff Asness has decided to break rank despite of people in the financial industry have been keeping mum lately. Cliff Asness, from AQR Capital, let President Obama have it, after the chief executive announced his discontentment of how hedge funds were held back from investing in Chryller LLC and with their restructing deal, while their bankruptcy negotiations were ongoing. According to Asness, the hedge funds manager has the responsibility to their clients, and granting debt relief to a company in bankruptcy isn’t among them. Which means, that he doesn’t have to invest nor participate in any deal he doesn’t think will make his clients money, and keep clients out of wanting short term loans is what Cliff Asness does for a living.