I think you've missed the point - your quote is referring to public companies relying too heavily on hedge fund returns; it's their choice to invest, they weren't forced into it. Enron fucked up, simple as that.jimmyalba wrote:Bully for you old chap, but are you sure you should be on here gloating about starting work for the kind of super wealthy amoral arseholes, who take on the debts of failing companies, asset strip and force their employees on to the dole, in order that they they can make a quick profit.
From the New Statesman:
"Naturally, it is possible to argue that to the brave go the spoils. If hedge-fund investors are prepared to take the risk, why shouldn't they reap the rewards? If they live by risk, they should be allowed to die by it, too - in January the Eifuku Fund, based in Japan, lost $300m in a week.
This argument might hold water if hedge-fund gam- bling were purely a private matter. It isn't. When Enron, the huge US energy trading company that had increasingly relied on risky hedge-fund investing and leverage, collapsed in 2001, 4,500 people lost their jobs and more than $1bn of their pensions. Some $60bn was wiped off the value of US stock markets".
Good luck in your new job but you should find it difficult to sleep at night.
"are you sure you should be on here gloating about starting work for the kind of super wealthy amoral arseholes, who take on the debts of failing companies, asset strip and force their employees on to the dole, in order that they they can make a quick profit" - what the fuck are you talking about? You clearly know absolutely nothing about hedge funds.
And for the record, there's no gloating, I'm just very relieved to have found a good job (after being recently ejected from my previous position with no warning) with a successful company when the odds suggested otherwise.