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Hedge fund manager lashes back at Obama on Chrysler

Reuters – Prominent hedge fund manager Clifford Asness has struck back at the Obama administration, saying hedge funds had the right and responsibility to hold out on last week’s Chrysler LLC restructuring deal.

"Managers have a fiduciary obligation to look after their clients’ money as best they can, not to support the President, nor to oppose him, nor otherwise advance their political views," Asness, who oversees about $20 billion at AQR Capital Management, LLC wrote in an undated letter.

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