The Waldmann Plan
OK so no one is interested in my big bad asset bank which requisitions all MBS and CDOs and pays in shares proportional to revenue generated recently (won’t even bother with the link).
I have a new plan. The Treasury wants to bring private investors in to help it buy CDOs and such. How about the Treasury looks for hedge fund managers who have made money consistently in 08,07, 06 and 05 and hires them for say 0.1% of assets under management + 1% of profits. Not the usual 2% + 20% you say ? $1,000,000,000,000 I say. I’m talking a billion a year no risk plus 1% of god knows what and I’m *not* talking about sharing it with lots of people.
Oh hell what I’m really talking about is why doesn’t the Treasury ask Nancy Zimmerman to handle it for $ 1 billion a year plus 1% of profits. Has she lost money once in the past 10 years ?
disclaimer: I know Nancy Zimmerman. She’s smart.