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Jackson, NJ – Senate Republican Budget Officer Tony Bucco called on Governor Jon Corzine to release all documents detailing links between casinos and a hedge fund company in which the governor is invested. The Governor’s financial disclosure forms show that he has invested in a hedge fund called TPG-Axon.
The Star-Ledger reported that the fund has the same addresses and almost the same name as Texas Pacific Group (TPG), an operator of hedge funds that bought Harrah’s Entertainment in 2006. Harrah’s owns four casinos in Atlantic City. Yet the governor contends that his investment meets the letter and the spirit of the state casino laws.
Wall Street Journal – The new commissioner of the Food and Drug Administration is among the wealthiest Obama administration appointees, with income of at least $10 million in 2008 thanks mostly to her husband, a hedge-fund executive, according to financial disclosure forms.
Margaret Hamburg and her husband, Peter Fitzhugh Brown, must divest themselves of several hedge-fund holdings as well as some of Mr. Brown’s inherited drug-company stocks so Dr. Hamburg can take the post as the nation’s top food and drug regulator. Mr. Brown is a lieutenant to hedge-fund magnate James Simons.
Reuters – Lawrence Summers, a top economic adviser to U.S. President Barack Obama, was paid about $5.2 million (3.48 million pounds) by hedge fund D.E. Shaw in the past year, financial disclosure forms released by the White House showed on Friday.
Summers, a former U.S. Treasury secretary and Harvard University president, also was paid $2.7 million in speaking fees by a range of organizations and companies, including several troubled Wall Street financial firms, they showed.
