By Rand Paul
Obama acts as though we no longer have a Constitution
Long-Term Capital Management (LTCM) was a U.S. hedge fund which used trading strategies such as fixed income arbitrage, statistical arbitrage, and pairs trading, combined with high leverage. It failed spectacularly in the late 1990s, leading to a massive bailout by other major banks and investment houses, which was supervised by the Federal Reserve. - Source: Wikipedia
Jon Corzine left Goldman Sachs with a net worth far exceeding even that of Mitt Romney today. Many accounts of his tenure at Goldman suggest he "failed up" the corporate ladder.
World markets swooned again yesterday as Countrywide, the largest U.S. mortgage lender, edged toward insolvency and Moody's, Wall Street's top credit agency, warned of hedge-fund collapses on a scale not seen since the 1998 world financial meltdown.
Misguided foreign policy
