NY Times Waits 18 Paras To Mention Chelsea Works for Hedge Fund

NewsBusters ^ | Mark Finkelstein

[governsleastgovernsbest]

What is it with Dems and hedge funds? Not long ago we learned that Mr. Two Americas worked for one. Today we find out, in a front-page profile in the New York Times, that Chelsea Clinton also works for a hedge fund.

But the Times was strangely shy about divulging the fact. Only those who persisted through 18 paragraphs and 977 words were rewarded with that noteworthy nugget. And even when the Times did get around to informing us, it managed to find a sympathetic spin to place on Chelsea's decision to work for what many liberals like to portray as the poster child for evil capitalism gone wild.

Last fall, Ms. Clinton moved on, taking a job analyzing investments at Avenue Capital, a hedge fund run by Marc Lasry, a loyal donor to Democratic causes generally, and Clinton-related ones specifically. The company invests its $18 billion in the debt of troubled businesses.

Friends say financial independence is important to Ms. Clinton; she may improve on her low-six-figure McKinsey salary by hundreds of thousands of dollars at Avenue because of potential bonuses, according to industry headhunters.

Get it? Chelsea isn't greedy, like those other hedge funders. No, it's simply that "financial independence is important" to her. Wouldn't want to be a burden on the folks, let alone end up on food stamps.

Why do I suspect that if the child of a prominent Republican candidate worked at a hedge fund, the Times might have played things more prominently, and less sympathetically?

Contact Mark at mark@gunhill.net

[governsleastgovernsbest]

Chelsea: hedge funder. Ping to Today show list.

[raybbr]

Future members of the ruling dynasty.

Perhaps they will join together and become the first pres and vice-pres of the North American Union.

[Enchante]

If any of the Bush or Cheney kids were doing the same thing the whole article would be about “Republican greed!!”

Since it’s Chelsea Clintonista, we must understand that she is a liberal saint who just happens to value “financial independence” from her grifter parents. That’s OK, then, so long as she’s not an eviiillll Republican.

[gridlock]

So Marc Lasry, a loyal donor to Democratic causes generally, and Clinton-related ones specifically, is going to be paying the unremarkable Chelsea Clinton hundreds of thousands of dollars in bonuses over the next year or so.

Is there any particular reason why this should not be construed as a bribe? Does anybody think the unremarkable Ms. Clinton is worth that kind of money?

[craig_eddy]

What is it with Dems and hedge funds?

See this post for the answer.

[freekitty]

It makes me sick to think we would have any more Bushes or Clintons in the WH.

[jimfree]

The company invests its $18 billion in the debt of troubled businesses.

A vulture fund - they buy heavily discounted paper. Nice work if you can get it.

[TexasCajun]

Webb would be proud.

[jimfree]

The company invests its $18 billion in the debt of troubled businesses.

A vulture fund - they buy heavily discounted paper. Nice work if you can get it.

[Thinkin' Gal]

Is that a recent photo? Looks like the warranties have expired on their cosmetic alterations.

[Incorrigible]

The Times also asks which parent Chelsea most resembles.

From this thread:
Chelsea Clinton Is Primed for Another Parent’s White House Run

.

[toddlintown]

“Many interviews with Ms. Clinton’s friends followed the same pattern: requests not to be identified in the article...”

Smart people. Wouldn’t want to have an accident.

[Jimmy Valentine's brother]

Her qualifications for her new job are exactly what?

Any wonder why hedge funds are in trouble?

[em2vn]

No, not a vulture fund. The paper is discounted because of the risk.
Do you remember that Free Republic is a conservative forum and it is a also pro-business?
Discounted paper can be a high risk, high reward undertaking.

[rod1]

Apparently the Cattle Futures “decade of greed” Queen bore seed.

[rod1]

Certainly her boss got political favors under the Clintons and may expect a few more. Plus the guy is has a lower profile than another similar possible Clintanoid wheeler dealer, Terry McAuliffe.

[jimfree]

No, not a vulture fund. The paper is discounted because of the risk. Do you remember that Free Republic is a conservative forum and it is a also pro-business? Discounted paper can be a high risk, high reward undertaking.

I support vultures. They perform a great service clearing out the dead and dying and often get a good meal in return.

[PapaBear3625]

The company invests its $18 billion in the debt of troubled businesses. A vulture fund - they buy heavily discounted paper. Nice work if you can get it.

Let's say you were investing $18B. Let's also say that just a little bit of better information on how pending government actions might affect the viability of the companies you were buying debt from, which might translate into large amounts of additional profits. How much would you pay for access?

[Calpernia]

ping