In Jason’s earlier post on the Chrysler bankruptcy drama, he criticized the president for demonizing the secured creditors (including hedge funds) that failed to capitulate to the administration’s demands.  Well, now, it appears that the hedge fund community is also voicing their disdain for such tactics.  

Last week, the NY Times published a letter written by Clifford Asness, managing partner of AQR Capital Management, a $20 billion hedge fund based in Greenwich, Conn., which addresses the president’s approach.  It is worth reading the letter in its entirety, but Russ Roberts does capture some of the best parts if you are short on time.