WHY ARE HEDGE FUNDS GAMBLING WITH PENSION FUNDS?

One of the most disturbing facts to come out of the Melvin Capital collapse this week is that Gabe Plotkin was gambling with pension funds to naked short US retail companies (Gamestop and AMC theaters) into bankruptcy. When a company goes bankrupt hedge funds don’t have to pay taxes on their profits nor is there any proof they were counterfeiting shares. Just ask Bill Ackman how he drove JCPenney’s into bankruptcy with the same tactics.

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CCRider
CCRider

Easy. The entire Potempkin economy is itself bankrupt as are the morals of the jackals who run it.

KJ
KJ

Did Ackerman flee to Israel?

TN Patriot
TN Patriot

Hedge funds gamble, it’s what they do.

samthere403

I was just going to post “it’s what they do.” We’ve been through this before. Same as it always is.

i forget
i forget

The largest ones tend to be the most political/connected ones & those do not gamble. TBTF has no gamble in it: heads they win tails everybody else loses. (“Markets” are fixed, & the TB’s at the head of the trough do the fixing.)

As somebody wrote recently, “No reasoning with people for whom ‘what’s mine is mine & what’s yours is negotiable.'”

And it is nation state politics – war by another name – that is completely responsible for suspending “shirtsleeves to shirtsleeves in 3 generations” – & the ensuing extraordinary concentrations of “wealth” (anything “acquired” via politics is booty, stolen, not wealth).

i forget
i forget

The shirtsleeves3 thing… profitable papas, or as in these cases of political rent collecting godfathers, & profligate-prodigal-wastrel sons/daughters isn’t a cliché for nothing. The offspring are not clones, the wayward sons cannot carry on, & so the fathers’ fortunes become as dust in the wind & everybody in the downstream ends up spit out back to Kansas by the rainbow … Captain Kidd’s kids don’t have what it takes to keep bow tying his reign, they trip over the laces, they lose-eschew the shoes.

Unless enforcer-muscle uncle Sammy (the bull gravano) is brought to bear. Whole raison detre of gov is to legally dispensation/sanction the crooked advantage.

Tif
Tif

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Anonymous
Anonymous

Remember when the hedgies were kvetching about being held criminally liable for their criminal conduct?

i forget
i forget

(sus)pension funds. Maybe that’s why.

Every carrot is just like gifts of candy made by pedophiles. “Incentives” are long cons, traps

motley
motley

The game is rigged. In all likelihood, it has been since the early 90s.

Anonymous
Anonymous

1890’s or 1790’s?

Anonymous
Anonymous

So, That’s were all the state governments learned to ‘invest’ state employee pension funds!

Can’t remember which clown governor in my state stated on the record that he didn’t know what the red numbers in the reports meant.

Fleabaggs
Fleabaggs

Because that’s where the money is.

Main article: Sutton’s law
A famous apocryphal story is that Sutton was asked by reporter Mitch Ohnstad why he robbed banks. According to Ohnstad, he replied, “Because that’s where the money is”. The quote evolved into Sutton’s law, which is often invoked to medical students as a metaphor for emphasizing the most likely diagnosis, rather than wasting time and money investigating every conceivable possibility.

https://en.wikipedia.org/wiki/Willie_Sutton

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