NYC Teachers Demonize Hedge Funds
Gotta love the unions coming after us (I'm just bummed that I wasn't mentioned in the article!):
The New York City teachers union feels under attack and their long-cherished sweetheart work rules are in jeopardy. And you know who they blame for this?
Hedge funds. That's right.
In the June 3, 2010 issue of New York Teacher, the official publication of the United Federation of Teachers, a front-page headline next to the words "War on Truth" states: "Hedge fund managers spending big bucks to attack UFT: Their motivation? Stripping teachers of all job protections and using schools to make bigger bucks."
The article stresses that a number of hedge fund managers are behind a group — Education Reform Now — that recently sent out a mass mailing seeking to lift the charter school cap (which did in fact happen). Keep in mind that charter schools are also heavily supported by President Barack Obama and his Education Secretary, Arne Duncan.
…The article concludes: "Maybe Education Reform Now could direct some hedge fund money to prevent layoffs instead of exploiting teachers' fears about losing their jobs to further its own political agenda."
So, basically the teachers union is demonizing hedge funds — long time supporters of the Democratic party and Democratic causes — because hedgies don't support the teacher's union's need to preserve the status quo.
So sad.
Hedge funds. That's right.
In the June 3, 2010 issue of New York Teacher, the official publication of the United Federation of Teachers, a front-page headline next to the words "War on Truth" states: "Hedge fund managers spending big bucks to attack UFT: Their motivation? Stripping teachers of all job protections and using schools to make bigger bucks."
The article stresses that a number of hedge fund managers are behind a group — Education Reform Now — that recently sent out a mass mailing seeking to lift the charter school cap (which did in fact happen). Keep in mind that charter schools are also heavily supported by President Barack Obama and his Education Secretary, Arne Duncan.
…The article concludes: "Maybe Education Reform Now could direct some hedge fund money to prevent layoffs instead of exploiting teachers' fears about losing their jobs to further its own political agenda."
So, basically the teachers union is demonizing hedge funds — long time supporters of the Democratic party and Democratic causes — because hedgies don't support the teacher's union's need to preserve the status quo.
So sad.
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Institutional Investor
NYC Teachers Demonize Hedge Funds
NYC Teachers Demonize Hedge Funds
posted by Whitney Tilson at 11:21 PM
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