An interesting read in this morning's Wall Street Journal is "Inside Capitol, Investor Access Yields Rich Tips." The story outlines how a New York based brokerage firm escorts clients(hedge fund managers) around Capitol Hill to meetings with congressmen.

I find it outrageous that these public servants cannot find time in their busy schedules to do things like read the 2,000 page Health Care Bill in its entirety or actually work on passing a budget that puts the United States on a path of fiscal prudency (the types of things we elect them to do), yet apparently have time to sit down to meetings with hedge fund managers to disclose material non-public information, (which in some cases has lead to investments by the hedge funds).

Oh, and please do not insult me with the nonsense explanation that these hedge fund managers help in forming policy decisions. Of course they do, because hedge fund managers represent congresses core constituency or, more to the point, campaign donors.

Doug Hendee, CFP(R)

(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).