Tuesday, 28 July 2015
Last updated 17 hours ago
Apr 2 2007 | 11:32am ET
Echoing his conservative comrade, German Chancellor Angela Merkel, east of the Rhine, rightist French presidential candidate Nicolas Sarkozy lashed out at hedge funds during a televised debate last night.
Sarkozy said the “aggressive” funds “buy up a company, sell it off in pieces, sack 25% of the staff in the meantime, collect 25% profit and create zero wealth.”
“I don’t want a speculative capitalism,” he said. “I want a capitalism that creates riches.”
Riches, apparently, other than those found in Mayfair, Greenwich and Manhattan, anyway.
Sarkozy has in the past called for an European-wide tax on “speculative” hedge funds. He leads his socialist rival, Ségolène Royal, in most polls. The first round of the election will be held later this month.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…