George Clooney: Hedge Fund Managers Operate Without Conscience, Damage Studios
George Clooney is angry at a Sony stockholder who wants heads to roll for the studio's under-performing summer tentpoles After Earth and White House Down.
The Oscar-winner lashed out at both the stockholder, Daniel Loeb, and hedge fund managers in general in an interview with Deadline.com. Clooney decried both their line of work and negative impact on Hollywood.
How any hedge fund guy can call for responsibility is beyond me, because if you look at those guys, there is no conscience at work," Clooney said to Deadline.com. "It is a business that is only about creating wealth, where when they fail, they get bailed out and where nobody gets fired. A guy from a hedge fund entity is the single least qualified person to be making these kinds of judgments, and he is dangerous to our industry." (Hedge funds don't actually often get bailed out -- they tend to either succeed or disappear.)