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Hedge funds wanted Summers to head Fed

CNN – Billionaire hedge fund managers slammed the White House’s handling of the Federal Reserve chair nomination process thus far and are disappointed that Larry Summers won’t get the job.

“I think the process, specifically talking about Larry Summers and the decision not to move forward with him as Fed chairman, is horrendous,” said Glenn Dubin, CEO and chairman of Highbridge Capital, at the Bloomberg Markets 50 Summit in New York Tuesday.

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