[Rep. Alan] Grayson may be the only sitting member of Congress who runs a hedge fund. If you asked him why that is, he’d probably tell you that he’s the only one who’s smart enough to do that.
Perhaps, but besides being highly intelligent and well informed, he prepared himself well to jump into the asset management game.
He sat on the Financial Services Committee and also served on the subcommittees on Capital Markets and on Oversight and Investigations. Those duties must have been instructive: Hey, I can do this. Why should I spend half my valuable time hitting up swells for swag and playing nice-nice with the Democratic Politburo? Screw that. I’ll finance myself with small donations and profits from my fund.
Grayson, an outspoken liberal, is running for the Democratic nomination to fill Marco Rubio’s Senate seat in Florida. Does the fact that he is a hedge fund manager put him in a different ethical position from a candidate who solicits donations from hedge fund managers?
Maybe. He might have a conflict of interest, but he wouldn’t cut off contributions to himself for voting against his own interests.