Posted on 11/03/2006 2:10:16 PM PST by ivyleaguebrat
NEW YORK (Reuters) - Former first daughter Chelsea Clinton has joined Avenue Capital Group, a $12 billion hedge fund manager whose founder has contributed to many Democratic Party campaigns, a person familiar with the matter said on Friday.
Clinton, 26, the only child of former President Bill Clinton and U.S. Sen. Hillary Rodham Clinton, has taken a post at the New York-based fund manager in an undisclosed capacity, the source said.
Clinton, who graduated from Stanford University in 2001 and studied philosophy at Oxford University, most recently worked at consultants McKinsey & Co. from 2003.
Avenue which focuses on distressed securities investing was co-founded by Marc Lasry. Morgan Stanley this week bought a minority stake in Avenue.
Well-known in hedge fund circles, Lasry has contributed to political campaigns for Hillary Clinton, Al Gore, Bill Bradley, John Kerry and other Democrats in recent years, federal election records show. However, Lasry has also contributed lesser amounts to campaigns for President George W. Bush, the records show.
Chelsea Clinton couldn't be reached for comment. A spokeswoman for Avenue said the company "does not comment on issues of company personnel."
News of Clinton's hire was reported by the New York Daily News on Friday.
Like I said before, this is news how & why. we all know that the klintoons are as corupt as the mob. so anything that is connected with them is corupt as well.
I thought that was a job only "illegals" and not Americans would do. /sarc
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Which just goes to show that Oscar Wilde may have been right:
"America is the only country that went from barbarism to decadence without civilization in between."
I'm glad some hedge funds lost big bucks a few months ago, they suck. Hedge funds drive down the markey on otherwise good news. I'm out of the stock market because of hedge funds.
Small price to pay for guaranteed access!
"Clinton, who graduated from Stanford University in 2001 and studied philosophy at Oxford University, most recently worked at consultants McKinsey & Co. from 2003."
And studying PHILOSOPHY qualifies her to work in economics and finance how?.....
Now that I've read this post I understand how....
hope she remembers
Nepotism is the reward paid for the sins of one's father.
"Greed is good".
Fixed.
I went and did a search as to what her major in Stanford was. It was History, so with a major of History and Philosophy, what are her qualifications to work for a hedge fund company? Doesn't even sound as if it's something she'd be interested in given her majors. Hmm, perhaps it has more to do with the name clinton.
Hedge funds serve a valuable purpose - they help mediate risk by allowing financial institutions to cover their long-term investment positions with shorter-term capital risks. They may also be used to provide a means of legalized gambling with other people's money, which is why they are so heavily regulated by SRO's (self-regulatory organizations) like the NASD and by government entities like the SEC. Gordon Gekko wasn't all bad - just short-sighted, like many businessmen looking for a quick killing.
I wonder if Chelsea is in the family business, murder inc.?
She'll have to pick which state she wants run in first.""
Along with Jack Carter- Jimmah's son, who is running in Nevada and openly admitted that he IS a CARPETBAGGER---but he wants to be OUR CARPETBAGGER....
What a piece of work...
Is he married? No woman nor kids are in ANY of his ads.
Thanks for warning me to stay away from this fund. Otherwise, ho hum.
I have no problem with markets and their workings, hedge funds included. I believe in capitalism. I always find it funny, though, when those who castigate "the rich" cash in when they have an opportunity. Glad to see that Bill and Hill have set their daughter up in the lifestyle to which she has become accustomed.
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