Thursday, September 10, 2009

D.C. Becomes the Focus of Wall Street

Financial players are being forced to focus more and more on what is going on in Washington D.C. I not talking about the Goldman Sachs insider clique, I'm talking about those who actually make an honest living trading as opposed to manipulating Washington.

The latest to launch a counterattack against D.C. meddling is Jim Chanos

Chanos, who has made a sizable fortune short-selling stocks, has launched

The site is clearly designed to influence legislators. The welcome page states:
This site explains hedge funds — their operations, their vital role in the economy, and their regulation. By educating legislators, regulators,their staffs, and investors about hedge funds, we can help foster sound, effective policies that ensure that hedge funds remain a positive force in the American financial system.
Clearly, New York is no longer the central focus of the financial world, Washington D.C. is.

Mainstream media, btw, is not alarmed by this ever expanding role of the state in commerce. They really see it as one big party. They don't understand it is crushing creativity and innovation. A mainstream financial reporter recently said to me, "Washington D.C. is an exciting place to be right now. It reminds me of what Silicon Valley was like during the start of the internet boom."


  1. Funny how the man who warned the bureaucrats of the looming financial disaster, now has to defend himself to the ones who sat on their collective hands. That includes Tim Geithner.

  2. This lawsuit came from a hedge fund:

    Connecticut Court Finds Probable Cause That UBS Committed Securities Fraud

    I wonder how mad Phil Gramm is over having to set aside $35 million within 10 days?