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Thursday, November 13, 2008

Congress to grill hedge fund billionaires, friends included

The financial press is giddy over the prospect of sometime bulldog Rep. Henry Waxman, D-Calif., grilling hedge fund managers in a hearing today, at a time when big private money managers are being cast as villains in the global financial tragedy. 

But a look at the guest list shows there may be less real conflict in store than meets the eye. The first two names on the witness list are John Alfred Paulson, who famously made a fortune betting against subprime home loans and Wall Street excess, and George Soros, an outspoken opponent of President Bush and his policies and a big-wallet backer of Democratic Party candidates and causes.

How hard are you gonna hit 'em, Henry?  FT Alphaville story, with links to some testimony, here

 
Posted by Joseph N. DiStefano @ 10:49 AM  Permalink | Post a comment
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About Joseph N. DiStefano
Joseph N. DiStefano writes this blog to feed his PhillyDeals column in the Philadelphia Inquirer. Joe has been a member of Bloomberg LP’s New York Finance Team, wrote the book “Comcasted,” taught writing at St. Joseph’s University, and studied economics and history at Penn. Reach Joe at 215-854-5194 and JoeD@phillynews.com
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