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After Big Bet, Hedge Fund Pulls the Levers of Power: Staking $1 Billion That Herbalife Will Fail, Then Lobbying to Bring It Down

Date: March 9, 2014
Authors: Michael S. Schmidt, Eric Lipton and Alexandra Stevenson
QUOTE: a small hint of Mr. Ackman’s extraordinary attempt to leverage the corridors of power — in Washington, state capitols and city halls — for his hedge fund’s profit after taking a $1 billion financial position called a short, a bet that will pay off only if Herbalife’s stock drops. Corporate money is forever finding new ways to influence government. But Mr. Ackman’s campaign to take this fight “to the end of the earth,” using every weapon in the arsenal that Washington offers in an attempt to bring ruin to one company, is a novel one, fusing the financial markets with the political system.

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