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Do As He Says, Not As... Well, You Know The Drill By Now
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Conflict of interest? Yes, it seems that the very outspoken Foe of Wall Street, Rep. Alan Grayson (D-FL), has a little problem: He's a hedge fund manager in his off hours, and, apparently, even as he performs his Congressional duties. At least, records indicate -- he denies this -- that he was pitching his hedge fund, which had offices in the Cayman Islands tax haven, overseas while on trips paid for by taxpayers, and advising clients to take advantage of "blood in the streets" from turmoil in other nations. Meanwhile, he was ranting about Wall Street and rich fat cats and crony capitalism and all that. But one thing's indisputable: His fund lost money, so much that he felt the need to pay back his only outside investors and, after an ethics complaint was filed, change the name of the fund from the Grayson Fund to the Sibylline Fund. This might explain why some of his Senate campaign people bailed on him. Not a good look, and a lot of explaining to do. (New York Times)
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