Wednesday, 30 July 2014
Last updated 14 hours ago
Dec 13 2011 | 2:16am ET
A Rhode Island hedge fund manager has thrown his hat into the ring to run for Congress next year.
Michael Riley is one of three Republicans battling for the right to challenge Rep. James Langevin, who has represented the state’s Second Congressional District since 2001. Langevin has been handily reelected five times, winning almost 60% of the vote last year.
According to Riley, the man who suffered that overwhelming defeat in 2010, Mark Zaccaria, is pushing him to run.
Riley told GoLocalProv that Langevin isn’t doing anything on Capitol Hill. He also said that he won’t be discussing social issues in left-leaning Rhode Island, arguing that the financial crisis is “the only issue right now.”
Riley moved to Rhode Island after Sept. 11, 2001, having made his fortune in New York. Now residing in Narragansett, Riley invokes the Occupy Wall Street movement, saying that he’s “actually occupied Wall Street,” although it seems unlikely that his prescriptions for reform would win the assent of the protestors formerly residing in Zuccotti Park.
Riley said he can finance his own campaign, and estimates that it will take as much as $3 million to unseat Langevin.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…