Left and Right Should Condemn Crony Capitalist War on Herbalife

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This whole situation basically is a grudge match between 2 very rich hedge fund guys (one a lot richer than the other), Bill Ackman and Carl Icahn, which came to a head very publicly a couple of years ago as you can see below.

These things happen but Ackman has run to his friends in government to try to win this feud which stinks. Of course there’s a company and many people who make their living with the company caught in the crossfire.

(From Reason)

Ackman’s position is a tough sell, but that hasn’t stopped him from trying. In a very ugly move, the investor is now betting that the government will take down the company so he can finally cash in.

Using all the political influence his corporate money can buy, he has been putting pressure on state and federal regulators to investigate Herbalife in hope that the company’s stock would finally dive. To build his case, an investigation by The New York Times reports that he organized “protests, news conferences and letter-writing campaigns in California, Nevada, Connecticut, New York, and Illinois, although several of the people who signed the letters to state and federal officials say they do not remember sending them.”

Click here for the article.