Blue Jersey:: Ledger Logic - Billionaire Boys Club Edition

Blue Jersey:: Ledger Logic - Billionaire Boys Club Edition:

Ledger Logic - Billionaire Boys Club Edition by: Jersey Jazzman Mon Oct 24, 2011 at 09:00:00 AM EDT

Tom Moran over at the Star-Ledger has outdone himself this time: an opinion piece under his own byline combined with an editorial he presumably wrotemake for a one-two punch that knock fairness and logic on their asses. Let's start with Moran's long, wet kiss to David Tepper, hedge fund multi-billionaire. After the predictable Horatio Alger claptrap about Tepper's hardscrabble young life in Pittsburgh, Moran sees fit to devote one small paragraph to how this man made his money: His style is to take huge risks. His firm, Appaloosa Management, made a killing after the financial crash by investing billions in failed banks. After the government bailouts, the value of the shares skyrocketed and his firm made $7.5 billion. That's not the whole story, as we have reported here at Blue Jersey (h/t DS