Are Hedge Funds "Corrupt" When They Pay Lobbyists To Push A Pro-GSE Agenda?
[Gibson Dunn lawyer Matthew] McGill represents Perry Capital in its shareholder lawsuit related to Fannie and Freddie. He participated in at least one PR event with Investors Unite, a Fannie-fighting group that DCI also represents.And finally — or, firstly — McGill represented NML Capital, a subsidiary of Elliott Management, the hedge fund connected with GOP megadonor Paul Singer, in the lawsuit against Argentina, along with Aurelius Capital Management. That lawsuit allowed the hedge funds to extract billions from the Argentinian people.
The Huffington Post article reminds me of one of those insidious phrases of modern journalism, "it feeds into the narrative that..." which is a media-speak for stereotyping, and for drawing inferences from dots that may not connect.
(For the record, I make no judgement about the debt restructuring of Argentina or Puerto Rico. Though I'll make a few general observations. Anyone with experience in debt workouts can tell you stories about the one creditor how tried to throw a monkey wrench into negotiations in order to obtain favorable treatment. Because credit default swaps have removed transparency, no one knows which creditor is acting in good faith.
But the conversation always devolves when you frame the debate around someone's motives, as opposed to the merits of what they have to say.
4 comments - Are Hedge Funds "Corrupt" When They Pay Lobbyists To Push A Pro-GSE Agenda?
Our government has managed itself into debts in the TRILLIONS of dollars, not exactly protecting the taxpayers. Fannie and Freddie bailed out the government, not the other way around. A government trillions of dollars in debt saying they are backstopping a profitable company is a bad joke.
I pray for additional documents currently being withheld by the government to be released. Given what was shown in the seven documents that Judge Sweeny allowed to be seen by the public one can only wonder what a few hundred more, or all, would have us all thinking of those who govern.
Start with the WSJ...
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