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Jacob H. Zamansky: Two Rights Equal One Wrong

Jacob H. Zamansky: Two Rights Equal One Wrong

by Rick Turoczy on June 28, 2006

Specter clearly is not afraid to play in the Senate Banking Committee’s sandbox, and that’s fortunate, because its members, led by Sen. Richard Shelby, R-Ala., are too influenced by Wall Street to enact any meaningful law that benefits the individual investor. For proof, just watch what happens to the Sarbanes-Oxley Act as Wall Street lobbies to eliminate or water down the law.

Finally, someone in Congress is realizing that hedge funds are too powerful to ignore, and their activities affect our day-to-day lives. It’s not just that these speculative funds are marketed to smaller investors; hedge funds are highly active in the commodities market, which is responsible for a heck of a lot of oil and gas speculation. Hedge funds are using leverage to drive public companies into tail spins, then making money on short positions.

Jacob H. Zamansky: Two Rights Equal One Wrong

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