Hedge fund king, a GOP megadonor, faces off with Democrats POLITICO 2/18/2021 By Zachary Warmbrodt © Larry Busacca/Getty Images for The New York Times Ken Griffin, who started trading from his Harvard dorm room, has previously appeared in front of Congress and faced tough questions about his business practices.
Hedge fund billionaire Ken Griffin bet big in recent years to keep Washington in the control of Republicans. Now he is the first target of Democrats in the Biden-era Wall Street crackdown that s just beginning to unfold.
House Democrats on Thursday will get their chance to grill the GOP megadonor, who has emerged as a key figure in the GameStop stock trading frenzy. Griffin, who spent more than $61 million to boost Republicans in last year s elections, is one of the star witnesses at a hearing on GameStop and other struggling companies whose shares surged then swung dramatically in recent weeks thanks to legions of investors on the social media
Hedge fund king, a GOP megadonor, faces off with Democrats
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Wall Street faces Washington crackdown after GameStop rollercoaster
The frenzy surrounding the trading of GameStop stock is triggering Washington’s most intense scrutiny of Wall Street in more than a decade.
Reddit s users have said they wanted to punish hedge funds that were betting on further declines in GameStop and other struggling companies. As the stock rose, the short sellers suffered. | Spencer Platt/Getty Images
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The frenzy surrounding the trading of GameStop stock is triggering Washington’s most intense scrutiny of Wall Street in more than a decade, teeing up hearings and investigations that threaten brokers and hedge funds at the center of the turmoil.
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