Friday, March 13, 2009

The hedge fund buyers for the TALF

Hedge funds of all sizes and strategies are expressing strong interest in the government's plan to unclog consumer-lending pipelines. Now they and other investors need to decide Friday if they will participate in the first round of borrowing through the Term Asset-Backed Securities Loan Facility, or TALF.

Some of the biggest hedge funds in the business have participated in calls and meetings with other hedge-fund managers, lawyers and regulators about the program. They include Harbinger Capital Management, Highbridge Capital Management, Elliott Management Corp., Paulson & Co., Perry Capital, Citadel Investment Group, Cerberus Capital Management and D.E. Shaw Group.

Does anybody really think that these hedge funds will adopt a bearish bent on the market, when they are feeding at the Government's free money trough, designed to unplug credit markets?

You had that story here, right before the rally that ripped out the shorts hearts!!

And who are the investors in these hedge funds, feeding at the TALF free money trough? Pension funds!

These hedge funds have had talks with the Government all week, and we've had a rally that has ripped out the hearts of the shorts.

And we've barely gotten started!


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