Hedge Fund Manager Eyes House Seat In R.I.

Dec 13 2011 | 3:16am 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

Q&A: MackeyRMS's Chris Mackey On A High Tech Fix To Broker Votes

Jun 23 2017 | 8:17pm ET

The looming implementation of the EU’s MiFID II rules regarding research has put...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 

From the current issue of