Archive - Apr 30, 2009 - Story

Zero Hedge has often been critical of the administration's current policies, which are not unique or novel, or even sufficient, as many claim, to prevent a relapse based on a confluence of economic events that pushed the country into the Great Depression, and can be simply qualified as inflationary spending and credit bubble reflation. By peddling debt at even cheaper rates than the much maligned Greenspan did during the great initial credit bubble inflation, what is happening right now does not differ one bit from the scenario that brought us here.

Of course, as expected, the White House is placing the full blame for the impending bankruptcy on the hold out hedge funds. Here is the stupendously hypocritical statement releaseed from the White House:

"[The hedge funds'] failure to act in either their own economic interest or the national interest does not diminish the accomplishments made by Chrysler, Fiat and its stakeholders nor will it impede the new opporunity Chrysler now has to restructure and emerge stronger going forward."

• The quants are brewing real trouble at Morgan Stanley (WSJ)
• Europe erases 2009 losses (Bloomberg)
• Chrysler bankruptcy looms as deal on debt falters (NYT)
• Howard Kagan sues Harbinger for $63 million of back pay (

• GM bondholders present bold counteroffer: kick government out and end up with control of the company (WSJ)
• WHO warns swine flu pandemic imminent as virus thrives in North America (Bloomberg)
• FBI looking into losses at Freddie Mac (WSJ)
• Taiwan stocks rally the most since 1991 on historic China investment (

Zero Hedge is always happy to discover something rotten in the state of capital markets. We are even happier when others dig independently and come up with their own startling conclusions. Tonight - we are very happy.

Zero Hedge is always happy to discover something rotten in the state of capital markets. We are even happier when others dig independently and come up with their own startling conclusions. Tonight - we are very happy.