Congressional Democrats assist billionaire hedge-fund manager in Wall Street feud

I had forgotten all about Bill Ackman and his crony crusade against Herbalife. As I remember it was a pissing contest between two investment big shots and Ackman thought he could get his friends in government to take the company down.

Not that there is any love for Herbalife here, but it’s good to see that this particular crony capitalist is being handed his lunch.

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Staking $1 Billion That Herbalife Will Fail, Then Lobbying to Bring It Down

Source: Yahoo Finance

“Have I become an instrument in some billionaire’s investment campaign?” he said, adding that he now regrets sending the letter. “I don’t want to be an unwitting pawn, and that is how I am feeling right now.”

This is some truly disgusting crony capitalism.

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