Hedge Fund Manager Eyes House Seat In R.I.

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.


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...