It is the job as well as the obligation of any investment manager, including those of hedge funds, to get the best return they can. Otherwise they’re doing a rotten job.
Clients can be rich individuals, or pension funds whose members are all types of private and public industry workers, These managers have a fiduciary duty to look after their clients’ money.
When the Obama administration and the reporters that make up the media, in their ignorance, look for a suitable scapegoat for government shortcomings, they often blame Wall Street for financial and business problems. Though the very underpinnings of the problems come from governmental missteps.
I find many villains on Wall Street. They are specific culprits who may do stupid and sometimes venal acts. Not general villains as painted by politicos or the majority of the media, just because they work on Wall Street.
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