Search SEARCH

Oppenheimer and other hedge funds reportedly drove Chrysler into bankruptcy!?

Reports here in Michigan are that Oppenheimer and other "greedy" hedge funds (unlike Chrysler's major lenders and UAW who agreed to concessions) REFUSED! to re-negotiate their claims and forced Chrysler into bankruptcy. What do you think about that? Do you think that Americans would be justified in pulling their investments out of Oppenheimer and the other hedge funds going with other more reasonable investment options with the hopes that Oppenheimer receives a taste of its own medicine (i.e. a bankruptcy of its own?) Also when I changed jobs and moved my 401 K money out of Oppenheimer they grabbed several hundred dollars in secret unilateral and hidden "account closing" and (double dipping) "account transfer fees. When i wrote to object, they ignored me... laughing all the way to the bank with my money. Does anyone else have a similar story?

Asked By: Variously - 4/30/2009
Best Answer - Chosen by Asker
The job of a hedge fund manager is to invest partners' money in the most sound and profitable investments. A hedge fund is not a charity, and they have no obligation to save Chrysler from bankruptcy, and nor should they attempt to do so. The reason Chrysler is going bankrupt is because the company was mismanaged by its... More
Answered By: borat_almaty - 5/3/2009
Additional Answers (3)
You're a little mixed up. That's not how corporations work. The Secured Bondholders actually are lenders, and after the banks, are highest on the list of repayment. Regular bondholders are next. Stockholders are basically at the bottom. When companies falter, Bankruptcy judges decide a value of assets and distribute... More
Answered By: Rudy H - 4/30/2009
 
You seem a little confused... More
Answered By: Mike - 5/2/2009
 
Unfortunately too many people are just trying to make a quick buck with Forex trading. You must remember that world markets are very volatile at this moment in time with regards to the N.Korean nuclear situation. Do you understand that if you were reading an online news bulletin and the headline read North Korean... More
Source(s):
Answered By: Burney - 5/3/2009
 
Sponsored results
Over 483 Local Jobs Now Hiring In Your Area. $18-$87/Hr - Apply Today!
Jobs.Quick-com
Work At Home Jobs Make $87/HR, Jobs Seen On TV. Jobs Hiring Now
www.HomeJobs-Finder.info
Make $17-$27/hr Working at Home. Requirements: Must Have Computer
moneysavingexpert.com
Up to $47/hr Part-Time Job Openings. Free Schedule, No Scam. Start Now
wahm.com/jobs

Other Career Questions

What is your current job? Why did you choose this job? What do you enjoy about your job? What do you dislike about your job? What would be your perfect job? Would you rather have this j...
3 answers - Asked By: drop pants not bombs!.♥ - 3/2/2010
Where are the jobs? Is productivity and globalization creating a permanent “recession” of jobs? My main issue is I am doing a paper for school and have no idea where to begin. I was hoping suggestions...
4 answers - Asked By: bayebd24【ツ】 - 11/21/2007
Hi ok im 19 and about to start college to do an acess course into a university. Ive been browsing through all the courses and im tottaly stuck! I thought politics but im scared ill end up with some r...
1 answers - Asked By: roseparkerly - 1/26/2009

Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.

Popular Articles

Best-Paying Work-from-Home Jobs Article Rating
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook Article Rating
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
For Employers: Post Jobs | Search Resumes | Advertise
About Monster | Work for Monster | Advertise with Us | AdChoices | Partner with Us | Investor Relations | Social Media
Terms of Use | Privacy Center | Accessibility Center | Help | Security | Contact Us | Sitemap | Mobile
©2014 Monster - All Rights Reserved U.S. Patents No. 5,832,497; 7,599,930 B1; 7,827,125 and 7,836,060 MWW - Looking for Monster Cable? - V: 2014.1.40.24-305
eTrustLogo