Anyone who thinks the Clintons are just regular folks should pay a little closer attention to what daughter Chelsea is doing these days. I'm sure if Hillary is the nominee the Republicans will have some fun with this.
Avenue Capital deals in "distressed debt". This according to Wiki:Fresh off selling a stake to investment bank Morgan Stanley for about $300 million, Avenue Capital Group has linked up with another powerful name.
The hedge fund, which has about $10.5 billion in assets, has added Chelsea Clinton as its newest employee, the New York Daily News reported Friday, citing unnamed sources.
Ms. Clinton is no stranger to finance, having served as a consultant at McKinsey & Company for several years. And the hedge fund, run by Marc Lasry, is no stranger to the Clintons. Avenue co-founders Mr. Lasry and Sonia Gardner are major Democratic Party donors who have each given extensively to Hillary Rodham Clinton’s Senate reelection campaign.
The younger Ms. Clinton is not the first in her family to enter the world of high finance: Her father serves as an adviser to billionaire Ron Burkle’s Yucaipa Companies.
I wonder if Chelsea's apparently open-ended leave of absence is a paid one.Distressed securities
Distressed securities are securities of companies or a nation’s central bank that are either already in default, under bankruptcy protection, or in distress and heading toward such a condition. When it comes to fixed income, these types of securities are below investment grade, and can include corporate credit as well as emerging market government fixed income…
When companies enter a period of financial distress, the original holders often sell the debt or equity securities of the issuer to a new set of buyers. In recent years, private investment partnerships such as hedge funds have been the largest buyers of distressed securities. Other buyers include brokerage firms, mutual funds, private equity firms, and specialized debt funds (such as collateralized loan obligations) are also active buyers.
Investors in distressed securities often try to influence the process by which the issuer restructures its debt, narrows its focus, or implements a plan to turn around its operations. Investors may also invest new capital into a distressed company in the form of debt or equity… Investors in distressed securities typically must make an assessment not only of the issuer’s ability to improve its operations but also whether the restructuring process (which frequently requires court supervision) might benefit one class of securities more than another.
Chelsea’s ‘Distressed Debt’ Hedge Fund Co. | Sweetness & LightAll told the Avenue Capital partners contributed at least $246,500 to Democrats in just the last few years. So it is only fitting that they should be remunerated by having the Clintons try to tank the economy.
By the way, the above is a right wing website - not a pro-Obama one.