Gov. Pat Quinn: Reboot Illinois poll with huge Bruce Rauner lead ‘phony-baloney’ (Examiner)
A new poll was released today by Reboot Illinois, a right-leaning news website, showed Governor Pat Quinn trailing Bruce Rauner, his Republican opponent by 14 points. The poll showed a four point increase for Rauner over a June poll that showed him with a ten point lead. The pollster claims that the results were because of an acceptance of Rauner’s tax and budget proposal. Reboot Illinois was founded by billionaire hedge fund manager, Ann Dias Griffin, and she is also a donor to the Rauner campaign in the form of a $5,000 donation. Her estranged husband Ken Griffin, also a hedge fund manager, has donated $2.5 million to Rauner.
Beware of hedge funds bearing gifts, the easiest way to rob a bank is to run one (Independent)
The term shadow banking system was coined by my former boss, the economist Paul McCulley, to describe the activities of all sorts of funds that are in his words “a whole alphabet soup of levered-up investment conduits, vehicles and structures”. The term perfectly captures the nature of a business, which significantly contributed to the global economic crisis. A shadow banking system is a parallel banking system. It behaves like a banking system but it’s not. It is all sorts of investment funds which lend money.
Irish Firm Launches US Hedge Fund AIFM Services (HedgeCo)
Capita Financial Managers Limited announced it has been granted an alternative investment fund manager (AIFM) licence by the Central Bank of Ireland. “AIFMD requires fund managers to comply with a new and extensive set of regulations that affect transparency, the conduct of business, remuneration, leverage and reporting.” Paul Nunan, managing director of Capita’s fund solution business in Ireland, said, “When it was introduced, many U.S. managers believed its cost, complexity and requirements would prove to be a bridge too far, but necessity is the mother of invention.
El Paso County eyes hedge fund-of-funds managers (PIOnline)
El Paso County Retirement Plan, Colorado Springs, Colo., will hear recommendations on potential hedge fund-of-funds managers from its investment consultant, Watershed Investment Consultants, at its Aug. 25 board meeting, said Tom Pfeifle, executive director. Any potential allocation will likely be discussed at the meeting. Mr. Pfeifle referred additional questions on the search process to Dale Connors, managing director and co-founder of Watershed Investment Consultants. Mr. Connors did not immediately return a telephone call seeking more information.
BUFFETTS TAKE ON RICKETTSES IN NEBRASKA BILLIONAIRE-BACKED RACE (ColumbusCEO)
Chuck Hassebrook, Nebraska Democrats’ best chance in two decades for winning a governor’s race, stands at a hotel ballroom podium in an Omaha suburb and takes aim at his Republican opponent Pete Ricketts, the son of billionaire TD Ameritrade founder Joe Ricketts. …The crowd reacts to the trust-funder trashing with delight, though one supporter is absent: Hassebrook’s honorary campaign co-Chairman Susan Buffett, the daughter of Berkshire Hathaway Inc. (NYSE:BRK.A) Chief Executive Officer Warren Buffett.
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