{"id":10106,"date":"2009-03-16T00:00:00","date_gmt":"2009-03-16T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-fund-corporate-welfare","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2009\/hedge-fund-corporate-welfare.html","title":{"rendered":"Hedge Fund Corporate Welfare"},"content":{"rendered":"<p>TPMCaf&eacute; &#8211; Last November, Ken Griffin told investors in his Citadel Hedge Funds that they couldn&#8217;t withdraw their money, but he was still going to charge a 2% management fee on their trapped funds. Oren Kramer a rival hedge fund manager said, &quot;It&#8217;s like telling someone at a hotel that they can&#8217;t check out and then charging them for the privilege of staying.&quot;<\/p>\n<p>Things were bad for Citadel, but this evening we learned that Ken Griffin isn&#8217;t really the hyper-capitalist he&#8217;s always portrayed as&#8211;he&#8217;s just another corporate socialist, passing his losses off on the public. It turns out that $200 million of taxpayer dollars have been turned over to Ken Griffin by AIG for his speculation in Credit Default Swaps. As I said last week, there is no good reason for this to happen.<\/p>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/tpmcafe.talkingpointsmemo.com\/2009\/03\/15\/hedge_fund_corporate_welfare\/\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TPMCaf&eacute; &#8211; Last November, Ken Griffin told investors in his Citadel Hedge Funds that they couldn&#8217;t withdraw their money, but he was still going to charge a 2% management fee on their trapped funds. Oren Kramer a rival hedge fund [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[8495,9065,1002,5024,2162,37,4504,5257,9066,530,129,663,48,9068,9067,4742,9064],"class_list":["post-10106","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-aig","tag-capitalist","tag-citadel","tag-credit-default-swaps","tag-good-reason","tag-hedge-fund-manager","tag-investors","tag-ken-griffin","tag-kramer","tag-last-november","tag-losses","tag-management-fee","tag-money","tag-privilege","tag-socialist","tag-speculation","tag-taxpayer-dollars"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=10106"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10106\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=10106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=10106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=10106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}