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Highfields' Jacobson Worried About the "Clowns" in Washington

Jonathon Jacobson, founder of Highfields Capital, doesn't mince words when talking about Washington politicians. In fact, Jacobson pretty much sums up what most of us think about the people in the nation's capital. Here he is from the Ira Sohn Conference today.

Via Barron's:

“I’m worried,” Jacobson said. Not about Euro contagion, or China, etc. “what I’m actually worried about are both the clowns and the climate in Washington. There’s no leadership on either side of the aisle. States are bankrupt, they’re the US equivalent of Greece, Spain, and Italy.” Washington is kicking can down the road with public finances, thinks Jacobson.


Ben Nelson Clueless About ATMs

Ok, so we can sort of understand the utter ignorance of many lawmakers about markets and modern finance in general. We can’t expect all of them to possess the kind of Maxine Waters-esq encyclopedic knowledge of swap credit defaults and other complex derivatives.