Investments - Wednesday, November 12, 2008 13:59 - Comments

“Investing” in AIG, et. al.: understand the scandal

I haven’t posted here due to a lack of time, but what we are witnessing is no short of the most abject scandal run by the collusive political and financial sides of American elite. Oh, and incompetence is a hallmark too.

Here are a few must-read if you want to follow what’s going on, but be warned, this will elevate your blood pressure quite drastically:

Andrew Lahde, recently famous hedgie, closed its fund with a 866% return. Here’s an extract from his last letter to investors:

The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government. All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other side of my trades. God bless America.

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