Bloomberg – It was a crisp autumn day in November 2005 when hedge fund manager John Ho entered the half- century-old Electric Power Development Co.’s headquarters in Tokyo, betting that Japan’s corporate attitudes were ripe for change.

Ho, then director of Asia-Pacific investments at the Children’s Investment Fund Management UK LLP, also known as TCI, was ushered into a conference room with a worn carpet to meet with Masayoshi Kitamura, then executive vice president of the utility. The visitor, who was offered a bottle of water, told Kitamura he wanted to learn more about the company’s plans for growth.

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Tags: asia-pacific, autumn day, carpet, corporate attitudes, crisp autumn, day in november, development co, executive vice, hedge-fund-manager, investment fund management, investments, japan, kitamura, management-uk, masayoshi, tci, tokyo, vice president

Seeking Alpha – Zero Hedge is always happy to discover something rotten in the state of capital markets. We are even happier when others dig independently and come up with their own startling conclusions.

Last night, we were very happy. John Hempton, who writes the insightful blog Bronte Capital, has done some amazing dot connecting in what, if true, and not swept promptly under the carpet by the powers that be, could expose a hedge fund scandal that could rival the Madoff fiasco, for the simple reason that it implicates none other than Barak Obama’s right hand man: Joe Biden.

The fund in question is Paradigm Capital, a fund of funds, that is controlled by Hunter and James Biden, the VP’s son and brother, respectively.

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Tags: barak obama, brother, capital markets, carpet, fiasco, hempton, insightful, joe biden, paradigm capital, right-hand-man, scandal, seeking alpha, startling conclusions, vp