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
—Mark Finkelstein is a NewsBusters contributing editor and host of Right Angle. Contact him at mark@gunhill.net.
Editor at Large
Comments Policy
OK, low 6-figures: let's
July 31, 2007 - 06:45 ET by motherbeltOK, low 6-figures: let's say $110,000 a year. Ms. Chelsea can't be financially independent on that? People raise 3-children families on half that. Improving that by "several hundred thousand" means increasing to around half a million a year. So Ms. Chelsea needs half a million a year to have "financial independence"?
Do you think a Republican's son who went to work for Halliburton at half a million annually would get such sympathetic treatment?
Oh, and I'm sure her last name has nothing to do with why she got the job to begin with. She just fell into it, right?
Can you imagine being one
July 31, 2007 - 07:07 ET by rimskyCan you imagine being one of the passed-over candidates for this job, knowing that you are more qualified or JUST as qualified, and yet being shown the door, simply because your name isn't Clinton?
As far as this Larsy guy is concerned.. well, he has sold his soul. To have Bill and Hillary, and their watchdogs, looking over his shoulder, making sure that EVERY stepping stone for Chelsea is perfectly placed so as not to disrupt her climb to the top, makes me shudder. What do you suppose he gets for placing Ms. Clinton and for enduring the heat of the Clintons? Might he be figuring that it'll be worth a Prez Pardon in the near future, should it be necessary?
Advantages of wealth, power, and privilege
July 31, 2007 - 07:13 ET by nkviking75"Can you imagine being one of the passed-over candidates for this job, knowing that you are more qualified or JUST as qualified, and yet being shown the door, simply because your name isn't Clinton?"
We need a party that ensures that people aren't denied jobs just because some people have the advantage of wealth, power, or privilege.
Hey, wait a minute...
When you put the clowns in charge, don't be surprised when a circus breaks out.
Do we need this circus in the White House again?
July 31, 2007 - 06:38 ET by Pasco ConservativeThe child of a dysfunctional family. A questionable education. And questionable paternity.
Any man who is under 30, and is not a liberal, has not heart; and any
man who is over 30, and is not a conservative, has no brains.
-Unknown
What's questionable about
July 31, 2007 - 09:06 ET by balboaWhat's questionable about her education?
Nothing. Because her parents
July 31, 2007 - 09:09 ET by sarcasmoNothing. Because her parents apparently loved Chelsea enough to keep her the hell out of DC's socialist schools. Pity DC residents without all that money don't have that same choice, despite what the socialist school system wastes/spends, eh??
JMR
Pasco - great quote!!
July 31, 2007 - 09:18 ET by namronThis is one of my favorite quotes, the quote has changed slightly over time but the orginal is from Winston Churchill
Show me a young Conservative and I'll show you someone with no heart. Show me an old Liberal and I'll show you someone with no brains. - Winston Churchill
I wonder how she got the
July 31, 2007 - 06:49 ET by sarcasmoI wonder how she got the job?
JMR
}}}----> Chelsea Clinton and John Edwards
July 31, 2007 - 06:55 ET by Cool ArrowSo Chelsea is following in the footsteps of John Edwards who helped hedge funds foreclose on poor people during the subprime buildup. Anybody surprised?
Poor Chelsea. Nothing
July 31, 2007 - 07:03 ET by BlondePoor Chelsea.
Nothing else to say.
Poor Chelsea, of all things
July 31, 2007 - 07:07 ET by Shooter1002Poor Chelsea, of all things to inherit, she gets Hubbel's face.
Child of Privilege
July 31, 2007 - 07:14 ET by GalvanicChelsea Clinton's financial future is assured. Her parents are multi-millionaires, and their influence -- active or passive -- helped her land a six-figure salary job straight out of college.
That's the way the game works above the Threshhold.
}}}----> Is this a story?
July 31, 2007 - 07:20 ET by Cool ArrowHarry Reid's sons are lobbyists. Now that's an issue.
Chelsea gets a job? Ho hum.
What politician's kids
July 31, 2007 - 07:35 ET by sarcasmoWhat politician's kids aren't lobbyists or in similarly-well-connected sinecures?? The list is short, but I'm both impressed & proud to say that 3 of Dr. Paul's 5 kids became MDs too, with 0 help from me as a taxpayer, and I was very impressed with son Rand Paul's speech in NH. To the point that I've invited him to Florida, where I'd drive as far as Orlando, Jacksonville, or Fort Lauderdale to hear Rand speak...
JMR
I think we are all aware
July 31, 2007 - 09:23 ET by futbolisgreat1I think we are all aware that rich and influencial families have their children earn huge salaries. I don't think this is the issue.
The issue is that Liberals always attack hedge funds, yet they all work for them.
It is like idiotic Michael Moore and the left wing kook followers he has. The guy owns Halliburton stocks, and then he turns around and attacks the company as being evil and too capitalistic. Of course his blind followers say, "yes, Halliburton is evil, yes, anyone that owns stocks with Halliburton is evil. Well of course except our god Michael Moore."
It is the same thing in this case. Anyone that is not a Liberal that works for a hedge fund is evil.
I think the rich have a right to have their connections and kids of rich parents should land big salaries. why not?
the problem is that these Liberals love the advantages and privilages that a capitalist society offers for their own gain, but hate it for us the little people.
Liberal mantra...."Capitalism is evil for you, but it is good for me."
Pic
July 31, 2007 - 08:53 ET by CaringwhiteguyNice photo, but I'd like to see a little more cleavage.
Nice photo, but I'd like to
July 31, 2007 - 09:18 ET by motherbeltNice photo, but I'd like to see a little more cleavage. -caringwhiteguy
On which one?
}}}----> Cleavage
July 31, 2007 - 09:20 ET by Cool ArrowHope he's not talking about Ron Paul
Yeah, but...
July 31, 2007 - 20:18 ET by dervishIs it just me, or do they look like a ventriloquist act?
Hillary
July 31, 2007 - 09:47 ET by iveseenitallHillary wants Communism/Socialism for you, but not for her and her family. Unfortunately, millions of lambs are going to slaughter as they pull the voting lever for this egocentric hypocrite.
NEVER,NEVER trust a liberal
Conservatives want everyone
July 31, 2007 - 10:15 ET by MaryRuthConservatives want everyone to be doing well. Dems want to keep the poor poor because they will not have any voters otherwise.
Dear Diary, I know it has
July 31, 2007 - 12:00 ET by drillanwrDear Diary,
I know it has been a long time since I've written, but I have been so very busy here in Washington, D.C..
My plans are finally panning out. There is NO doubt I will be the Soci ... er ... Commu ... er ... Democrat nominee for the 2008 Presidential Election. I want to say that I am excited, but ... well, who the hell else are they going to pick?? I mean, really! After all, I AM the smartest woman in the world. Anyhow, it looks as if I will be expected to choose Obama as my VP running mate. There IS that "token" factor he'll bring to the ticket. Yeah, and stealing my limelight and thunder <GROAN>! I'd much rather it be that dame Edwards, since he'd be easier to keep busy with a ball of yarn in the halls of the VP mansion ... But my friggin' handlers are pushing BHO on me. Not to worry. I'll take the example from Bill when dealing with Al, and keep him waaay in the background herding in money for our DNC coffers. Nobody will be able to beat our ticket ... Except, perhaps, that skunk Fred Thompson. And maybe Rudy ... A Thompson/Rudy ticket? Yikes! Well, I won't think about that now.
Chelsea has grown into a wonderful independent young woman in her own right. With school completed she has joined the ranks of "working class liberated women". She'll make a wonderful wife for the Antichrist when he finally crawls out of that well in Iran. She's already alerted WE Television for their show "Bridezillas".
Gotta run, Dear Diary. I have to practice my regional dialect for my next campaign speech. Ugh! This damn menopause is a real pain! My breasts are sooo swollen they sometimes peep out above my shirt ...
P.S.
Wasn't that youtube snowman a friggin' hoot?! You do know that was Al, right? What a boob. He sure has gone off the deep end of the melting glacier!
Yours,
President and Supreme Czar and High Goddess Hillary Rodham
What is she, four years out
July 31, 2007 - 12:48 ET by WhoIsJohnGaltWhat is she, four years out of college? And she's already up in the stratosphere in terms of income? Financial independence my ass, she's cashing in.
Chelsea...Hedge
July 31, 2007 - 20:28 ET by bigtimerChelsea...
Hedge Funds...
Soros and ilk...
Momma...
'D'
MSM covering this....
No big deal.
Moveon.org
Why do I suspect that if
July 31, 2007 - 21:58 ET by Tom1969caUm ... because they would?
~~~
"We can stand here like the French, or we can do something about it."
-- Marge Simpson