On Bloomberg, hedge fund manager Jim Chanos weighs in on the topic of the day: the war on hedge funds for their supposed collusion against the euro.
His basic points, which we agree with:
- Hedge funds are not colluding.
- Hedge funds are always blamed for other people’s failings (in this case governments).
- Hedge funds don’t have the power to take down a currency or a monetary union, even if they wanted to.