Congressman Alan Grayson Speaks to ROF About Taking Down Corporate Democrats

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1. Pot, meet kettle:

Grayson hedge funds skirt ethics rule
By MATT DIXON 06/30/15 05:07 AM EDT

TALLAHASSEE, Fla. — Rep. Alan Grayson manages hedge funds that use his name in their title, a practice prohibited by congressional ethics rules designed to prevent members from using their elected post for financial gain.

The specific ethics provisions tied to the funds Grayson manages, two of which are based in the Cayman Islands, sit in a sort of gray area and have never been examined by the House Ethics Committee.

Attorneys for the Democratic congressman say the funds are exempt from House ethics rules that ban a sitting member from naming a financial entity after themselves. But their stated rationale is considered “complete nonsense” by legal and finance experts who reviewed the fund’s regulatory filings.

The House ethics rules do not allow a sitting member to “permit his name to be used” in the name or advertising material for entities like law firms, associations and financial entities. The Grayson-run funds are Delaware-based Grayson Fund LP and Cayman Islands-based funds called Grayson Master Fund (Cayman) Ltd. and Grayson Fund (Cayman) Ltd.

Read more: http://www.politico.com/story/2015/06/alan-grayson-hedge-fund-ethics-119553#ixzz47WehP4N8
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