Cooperman's open letter to Obama

[bruce MN]

I believe that I recall someone here postin it. Or maybe it was at Farm Business.

Good piece linking it here, and also a response piece:

http://blogs.reuters.com/felix-salmon/2011/12/09/hedgies-vs-obama/

SNIP,(on the amazing phenomena of so many people who are so sorely affected by what they do unquestionably supporting anything that comes out of the 1%) It''s mystifying:

"So while people like Cooperman are interesting as a political phenomenon, their rhetoric doesn’t stand up to scrutiny. I do, however, continue to wonder at the ability of the Republican Party to sell higher incomes for the 1% to the public as a whole. Is there any other country in the world where a major political party panders so cravenly to such a tiny base — and gets broad political support for doing so?"

[bruce MN]

I believe that I recall someone here postin it. Or maybe it was at Farm Business.

Good piece linking it here, and also a response piece:

http://blogs.reuters.com/felix-salmon/2011/12/09/hedgies-vs-obama/

SNIP,(on the amazing phenomena of so many people who are so sorely affected by what they do unquestionably supporting anything that comes out of the 1%) It''s mystifying:

"So while people like Cooperman are interesting as a political phenomenon, their rhetoric doesn’t stand up to scrutiny. I do, however, continue to wonder at the ability of the Republican Party to sell higher incomes for the 1% to the public as a whole. Is there any other country in the world where a major political party panders so cravenly to such a tiny base — and gets broad political support for doing so?"

[verbatime]

Yes, I posted it earlier and caught all kinds of crap for it from some lefty.

[hardnox604008]

Thnx Bruce, I was going to post that and then thought, why bother?

BTW, The Leon was down some 12% YOY at the end of October, after today maybe 20%. Some serious redemptions coming down the pike. All Obama's fault- even though hedge funds are supposed to be able to go long or short at their own whim. So what, he thought Obama would make things go up and they didn't, or vice versa? So much for Masters of the Universe.

Like The Jon, there is a time to call it quits and move to W. Palm Beach but few of us recognize it.

Seen it dozens of times on a local levael and larger- somebody hits a big one and decides they're smart instead of thanking the almighty and cashing out.

PS. Repubs are talking about denying UE and foodstamps to people with more than $1 miilion in net worth so he'd better cash out sooner rather than later.

PS. Same absolutely goes for Corzine although I wouldn't lead with that becasue few here care about the core issues, they're just delighted that a big Dem is also stupid.