No wonder hedge funds are in trouble - the managers are stupid!
Reuters reports (see link, below) that hedge fund managers are donating huge amounts of money to Obama's campaign. The "news" service claims that this is a break from the past but I want to research that a bit - its my memory that the Street's gone Democratic for years. But if the managers of this failing and flailing industry are really supporting a candidate who promises to tax the hell out of the middle class, impose a disastrous national health plan on the country, curtail fossil fuel production and walk away from the Middle East, it's hardly surprising that they're also making dumb bets on complicated things like CDOs. Just desserts, says I - remind me to wipe a tear next time another one of them goes belly up.

UPDATE: desserts (which one eats) have two "s's", sandy spots just one. I plead guilty on the other error, now corrected.