[lbo-talk] John Hussman, PhD mutual fund manager recent thoughts on the bailout

[Joshua Schefers]

Thoughts by a mutual  fund manager on the reality of the bailouts by Geithner, Bernanke, and Co. 
 
Hussman ...
 
Make no mistake - we are selling off our future and the future of our children to prevent the bondholders of U.S. financial corporations from taking losses. We are using public funds to protect the bondholders of some of the most mismanaged companies in the history of capitalism, instead of allowing them to take losses that should have been their own. All our policy makers have done to date has been to squander public funds to protect the full interests of corporate bondholders. Even Bear Stearns' bondholders can expect to get 100% of their money back, thanks to the generosity of Bernanke, Geithner and other bureaucrats eager to hand out the money of ordinary Americans. 
 
whole thing available here
http://www.hussmanfunds.com/wmc/wmc090323.htm
Per most recent market commentary 03/23/09