Who's Cashing In This week?

The New Republic

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MAY 28, 2008

Who's Cashing In This week?

"We finally cleaned up public housing in New Orleans. We couldn't do
it, but God did." Thus spoke former representative Richard Baker,
Republican of Louisiana, in the wake of Hurricane Katrina. Baker
retired from Congress in February to embrace another cause that he
no doubt considers divine: As the head of the Managed Funds
Association, he's charged with ensuring that his former colleagues
don't make a dent in the profits of hedge-fund managers. By all
measures, he's taken up his new mission with zeal--a convert's zeal,
even. He's now leading the fight against a measure, which he
supported while in Congress, that would require fund managers to
register as financial advisers.

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