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While the term "hedge fund" now is applied to firms that don't actually go short or otherwise hedge their investments, I still feel it is a disservice to imply that that is the nature of corporate credit unions. They are allowed to invest only in AAA and AA rated securities.
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your statement makes it sound as if they have been bailed out with government dollars, which is not true. The NCUA and CU system is taking care of this problem with their own funds,
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As for the effect on CUs, large and small: Some CUs that are under-capitalized will also be placed into conservatorship by the NCUA. The most likely outcome of that action is for the CU to be merged into a larger one. And across the board, because of the fees that all CUs are being required to pay, CUs will have to do everything they can to save money.
Obama's Business Backers Look Ahead - BusinessWeek.com- msnbc.com - 0 views
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In addition to Logan, they include Valerie Jarrett, CEO of real estate management firm The Habitat Co. and now co-head of Obama's transition team; Jim Reynolds, CEO of investment bank Loop Capital Markets; John Rogers, CEO of mutual fund icon Ariel Investments; Quintin Primo III, CEO of commercial real estate development company Capri Capital Partners; and Frank Clark, CEO of electrical utility Commonwealth Edison.
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Later, during his second year in the U.S. Senate, Obama called Clark, among others, to discuss whether it made sense for him to mount a bid for the Presidency. Clark, 62, is one of Chicago's elder statesmen and chief of ComEd, a subsidiary of energy giant Exelon (EXC) and the largest electric utility in Illinois, serving nearly 4 million customers in Chicago and Northern Illinois. He didn't mince words: "Your window of opportunity is now," Clark recalls saying. "Go do it."
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"Our generation has been limited in terms of how far we can dream," Logan said on Tuesday night just minutes before Obama took the stage. The son of two teachers who worked on Chicago's South Side, Logan majored in accounting and economics at Florida A&M University, a predominantly black college, and later earned an MBA in finance from the University of Chicago. "We've too often been under the impression that we can only serve our own. We've had constraints applied to what we can achieve."
The Year Washington Became "Business Friendly" - 0 views
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ot that it was all that unfriendly before. Some would say the bailouts of Wall Street, AIG, GM and Chysler were about as friendly as it can get. In addition, Washington gave windfalls to drug companies and health insurers in the new health bill, subsidies to energy companies in the stimulus package, and billions to domestic and military contractors.