Intermarkets' Privacy Policy

Donate to Ace of Spades HQ!

Recent Entries
Absent Friends
Bandersnatch 2024
GnuBreed 2024
Captain Hate 2023
moon_over_vermont 2023
westminsterdogshow 2023
Ann Wilson(Empire1) 2022
Dave In Texas 2022
Jesse in D.C. 2022
OregonMuse 2022
redc1c4 2021
Tami 2021
Chavez the Hugo 2020
Ibguy 2020
Rickl 2019
Joffen 2014
AoSHQ Writers Group
A site for members of the Horde to post their stories seeking beta readers, editing help, brainstorming, and story ideas. Also to share links to potential publishing outlets, writing help sites, and videos posting tips to get published. Contact OrangeEnt for info:
maildrop62 at proton dot me
Cutting The Cord And Email Security
Moron Meet-Ups

« Iowa State 37, Okie State 31 | Main | Joe Paterno Filled with Regret for Not Reporting Child Molestation and a Treatable Form of Lung Cancer, but Mostly a Treatable Form of Lung Cancer »
November 19, 2011

Barnhardt Capital Management Closes its Hedge Fund; implicates WH, Corzine [Truman North]

We've discussed this in the open threads and so forth over the last couple days, and Ace recently posted something tangential here, in case you would like to know more.

Ann Barnhardt, who is apparently an anti-Jihad crusader and blogger at among other places, takes as her vocation the manager of a hedge fund. Citing her lack of faith in the market and specifically the uncertainty introduced by an increasingly-lawless government and regulatory regime, she has voluntarily closed her hedge fund, Barnhardt Capital Management, and gone out of business.

Her resignation (?) letter was posted on Zerohedge. A couple of choice excerpts:

Dear Clients, Industry Colleagues and Friends of Barnhardt Capital Management,

It is with regret and unflinching moral certainty that I announce that Barnhardt Capital Management has ceased operations. After six years of operating as an independent introducing brokerage, and eight years of employment as a broker before that, I found myself, this morning, for the first time since I was 20 years old, watching the futures and options markets open not as a participant, but as a mere spectator.


Everything changed just a few short weeks ago. A firm, led by a crony of the Obama regime, stole all of the non-margined cash held by customers of his firm. Let’s not sugar-coat this or make this crime seem “complex” and “abstract” by drowning ourselves in six-dollar words and uber-technical jargon. Jon Corzine STOLE the customer cash at MF Global.

It's true. Corzine, Joe Biden's pal and Obama crony, as taken something like $600M of his client's money and spent it on... magic beans, I guess. Or hookers. Whatever.

But don't look now, Herman Cain hit on a white's woman!

Lookit, MF Global's mini-Madoff may or may not have destroyed the whole financial system. I would bet it didn't. But what it did was expose, yet again, that nothing happens on Wall Street that's stopped by federal regulators, unless there's a political motive behind it. Rule of law, we hardly knew ya. Madoff? Fine! MF? Totally cool! But when Client Number 9 starts to have some success in shutting down bad operations... They couldn't find Madoff's 50 billion, but they could trace one $5,000 transaction for a sweet hooker? Really, SEC? Really??

My takeaway from this dramatic and public resignation and withdrawl by one of Wall Street's big fish is this: Success and failure in the markets are no longer determined by anything resembling the free exchange of goods, services and information. Rather, they have become dominated by political actors using limited information and the heavy hand of the state.

While you and I may have absolutely no power to control this, those we send to Washington routinely do. Scott Brown's answer? Pass a law! Make sure he and his pals stop doing insider deals! We're supposed to believe we have to stop them before they kill again, but they're TOTALLY RESPONSIBLE when it comes to spending the money that isn't theirs!

Jesus. Even the Republicans on the Super-Clusterfuckommittee are looking at "revenue enhancement" to "solve" our problems. I'm not interested in giving these crooked schmucks more money; I'm interested in throwing them in jail and giving the next bunch less.

Additionally: Both Houses have agreed to hold hearings on the insider trading skullduggery; the House of Reps is investigating. Prepare yourself for the revelation that "mistakes were made. Move along. Nothing to see here." I'm chasing my Tums with Valu-Rite in giddy anticipation.

digg this
posted by Open Blogger at 09:07 AM

| Access Comments

Recent Comments
ZOD : "ZOD. ..."

rhennigantx: "I did not read this week. I traveled to Hill Co ..."

OrangeEnt: "Wait, Perf. That's a woman in them there pants. Yo ..."

Tuna: "I drink a shot of Fernet Branca when my tummy is n ..."

Divide by Zero [/i]: " [i]That meme needs just one FIGHT, not three. ..."

Weak Geek: "The first Matt Helm book I read was "The Interlope ..."

CNN: "But more importantly, what are Kimberly Cheatle's ..."

Warai-otoko: "ZOD is not a side. ZOD is the interior of the s ..."

Biden's Dog sniffs a whole lotta malarkey, : "That meme needs just one FIGHT, not three. Posted ..."

Skip: "WE HAZ A BOOK NOOD ..."

Aetius451AD: "It's "murderous, GODLESS communists", sir!! Har ..."

OrangeEnt: "Will there be a book out soon about yesterday? ..."

Recent Entries

Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64