Ex-Congressman, Now At Superfund, May Want Old Job Back

May 24 2010 | 10:02am ET

Disgraced former Congressman Vito Fossella apparently prefers the halls of power to those of the hedge fund world.

The Republican, who represented Staten Island, N.Y., and parts of Brooklyn, chose not to run for reelection two years ago after it emerged that he had fathered a child with a Virginia woman with whom he was having an affair—after he was arrested for drunk driving. The seat—the Republican’s last in New York City—went to Democrat Mike McMahon.

But now Fossella is back in the mix, mulling a run for his old seat after the Staten Island Republican Party’s executive committee overwhelmingly endorsed him, despite the fact that he has not announced his intention to run.

“This is an unbelievable honor,” Fossella said. He added that he would make a decision in the next few days.

The committee picked Fossella, who has worked at managed futures firm Superfund Investment Group since last year, over two announced candidates, including Michael Grimm, a former Federal Bureau of Investigation agent who spent almost two years undercover as a hedge fund manager on Wall Street.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...