Archive for July 11th, 2011

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tuesday

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truth

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another quiet day

President Barack Obama is briefed before a phone call with President Dmitry Medvedev of Russia in the Oval Office, July 11, 2011. (Official White House Photo by Pete Souza)

President Obama speaks and Rusty Boehner at a meeting with congressional leaders in the White House, July 11

11
Jul
11

uncorked

TPM: … TPM readers identified the two likeminded conservatives with whom Paul Ryan shared two pricey $350 bottles of Pinot Noir Wednesday night (original story here)

….(they) were Cliff Asness and John Cochrane. Both men have doctorate degrees in economics and are well-known in the conservative media world as die-hard proponents of the free market’s ability to right itself without government bailouts when the crisis hit in late 2008.

Asness, who ordered the wine and who, according to Feinberg was the one who said “Fuck her,” is better known as a high-profile hedge fund manager. Asness founded and runs AQR Capital, which manages an estimated $26 billion in a variety of traditional products and hedge funds, and his life story has been the subject of numerous books and articles about the rise and fall of Wall Street. He’s also grabbed headlines for being one of the most voluble opponents of President Obama’s economic policies.

ABC’s Jake Tapper ran an illuminating piece on Asness in May of 2009 after he wrote an angry open letter to Obama – “Unafraid in Greenwich, Connecticut” – in which he blasted the President’s attacks on hedge fund owners refusing to go along with his administration’s plans for Chrysler.

“Who came up with the title for the letter?” Tapper asked parenthetically in his piece. “Axelrod? Perhaps ‘Bold and on My Yacht’ was too subtle.”

….In May 2009, Asness served as a guest host on CNBC’s Squawk Box and defended the $450 million in bonuses AIG executives received, arguing that President Obama and the Congress are responsible for the economic crisis and should pay the execs the bonuses themselves…..

More here

****

Campaignmoney: Asness is more than just an angry millionaire – he’s a major conservative political player.

Asness was listed as an attendee at retreats held by the billionaire conservative Koch Brothers, according to the document obtained by ThinkProgess last year. Charles and David Koch bring people together at these events to “review strategies for combating the multitude of public policies that threaten to destroy America as we know it”. In January, Ryan spoke at the Koch’s California retreat….

More here




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