2010-08-31 — nytimes.com
We think Loeb is right in that hedge funds have received an undue amount of the blame; when the real criminals are the big banks (not that there aren't bad hedge funds). However, we can't get on board with defending Goldman. If Goldman was so robust, it wouldn't have needed the AIG-passthrough bailout, or the conversion to a commercial bank.
The poison pen of Daniel S. Loeb took a jab recently at one of his former allies, the Obama administration, deploring the redistribution of resources and power that Wall Street has come to fear with the passage of the financial regulation overhaul.
Some say that they knew Obama would seek higher taxes and tighter regulation; that was O.K. What they say they did not realize was that they were going to be painted as villains. And as they grow to distrust government, they threaten to cut off investment in the United States.
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