Another Hedge Fund Unpunished Despite Failing the Smell Test

If hedge fund managers and Wall Street pros wonder why the average person thinks they are greedy and the deck is stacked in their favor, Tuesday’s JPMorgan collateralized debt obligations (CDO) settlement is yet another good reminder, the Institutional Investor reports.

For at the core of the complaint is the realization that while the average schnook was being peddled a package of crappy mortgages, a major hedge fund — Magnetar Capital — was able to personally go in and select the crappiest of the turd so it can take the opposite side of the trade and short the portfolio….

Beautiful deal if you can get it.

Find out more at:
http://www.institutionalinvestor.com/Article/2852237/Another-Hedge-Fund-Goes-Unpunished-Despite-Failing-the-Smell-Test.html