Clooney Slams Hedge Funders: ‘They Get Bailed Out’ But ‘Nobody Gets Fired’

[Hissyspit]

http://www.rawstory.com/rs/2013/08/03/clooney-slams-hedge-funders-they-get-bailed-out-but-nobody-gets-fired

Clooney slams hedge funders: ‘They get bailed out’ but ‘nobody gets fired’

By David Ferguson
Saturday, August 3, 2013 21:57 EDT

In an interview published Friday with Mike Fleming Jr. of Yahoo! Movies, actor George Clooney took a swipe at hedge funds, saying that the multi-billion dollar investment groups often ruin businesses with their obsession with the bottom line. Then they get bailed out by the government and are never held accountable.

The interview mainly centered around Clooney’s beef with hedge fund manager and so-called “activist investor” Daniel Loeb. Loeb is aggressively buying stock at Sony, but after the less than stellar summer Sony Entertainment has had — major films “After Earth” and “White House Down” did poorly at the box office — Loeb has started agitating for Sony to spin off its entertainment division.

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The film industry, Clooney said, “is run by people who understand that the movie business ebbs and flows and the good news is they are ignoring his calls to spin off the entertainment assets. How any hedge fund guy can call for responsibility is beyond me, because if you look at those guys, there is no conscience at work.”

- snip -

“To have this guy portraying it that Sony management is the bad stepchild and doesn’t know what it is doing and he’s going to fix it?” he said. “That is like Walmart saying, let me fix your town, putting in their store, strangling all the small shops and getting everyone who worked in them to work for minimum wage with no health insurance."

“Hedge fund guys do not create jobs, and we do,” said the actor, director and producer. “On the movie we just made, we put 300 people to work every day. I’m talking about nice, regular people, and when we shot in a town, we’d put another 300 people to work. This is an industry that thrives; there are thousands of workers who make films. You want to see what happens if outside forces start to scare the industry and studios just make tent poles out of fear? You will see a lot of crap coming out.”

[Dawson Leery]

1. Hedge funds and private equity.

Return the capital gains rate to 70%.

[ForgoTheConsequence]

2. I agree with him, but.....

You will see a lot of crap coming out.

Too late George.

[burrowowl]

3. Go Clooney!

[Skittles]

4. thanking Mr. Clooney

he doesn't have to care but he does, with a vengeance, and I appreciate him dearly

[spiderpig]

5. In my line of work I've met a lot of people who have worked with Clooney

I have never heard a single bad word about him. Actually, hotel staff have had nothing but compliments about what a nice guy he is. His parents too.

I George.

[CTyankee]

6. I blush to say that I would see Clooney in anything.

He could stand up and read the telephone book and I'd watch him...

[Skittles]

8. I'm amazed at his range

I re-watched Good Night, and Good Luck last night, which I consider by far to be his best film

[CTyankee]

9. I LOVED Up in the Air. I thought he and everyone in it were terrific. Great movie.

I did like Good NIght and Good Luck tho. Also great...

[xchrom]

7. du rec.

[AppleBottom]

10. Lol, great comback by Clooney.

He's absolutely spot on.