On Monday, the New York Times detailed William A. Ackman’s “extraordinary attempt to leverage the corridors of power” in order to to drive down Herbalife stock prices. Ackman, who runs the hedge fund Pershing Square Capital Management, has gone short on Herbalife.
The Great Debate
Mark Twain labeled the late 19th century the Gilded Age – its glittering surface masking the rot within. This term applies today for the same reasons: The rich get richer; most everyone else gets poorer. And the public thinks corruption rules.
If you think of the current presidential campaign as a movie, the economy, by all rights, should have pre-empted most of the drama and handed the lead role to the lantern-jawed financier. The movie would have told of a decent man, so unflappable that he never broke a sweat, who tried his best but couldn’t work his will on the world and make things right. Into that void, walked Republican nominee Mitt Romney, who vowed that he had the experience and strength to turn things around.