Funny, but I don't recall businessmen being threatened with reprisals during the Bush administration.
Asness said that "the president screaming that the hedge funds are looking for an unjustified taxpayer-funded bailout is the big lie, writ large."
"Find me a hedge fund that has been bailed out."
He added: "Here's a shock. When hedge funds, pension funds, mutual funds and individuals -- including very sweet grandmothers -- lend their money they expect to get it back."
Asness said the market will work out its problems, adding Wall Street "is not an owned lackey of the Oval Office to be scolded for disobedience by the president."
While Asness made clear his fund wasn't invested in Chrysler, he said he was compelled to write his letter because he was thoroughly "aghast at the president's comments" and felt he had to lash out in defense of investor independence.
Asness also said he's worried about government backlash hitting him or his clients.
"It's really a bad idea to speak out. Angering the president is a mistake."
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