Grassley Thinks Health Agency Gave Hedge Funds ‘Special Treatment’

Dec 13 2011 | 10:35am ET

U.S. Sen. Chuck Grassley (R-Iowa), the ranking Republican on the Senate Finance Committee, suspects Medicare and Medicaid gave special treatment to information requests from hedge funds. 

In a letter sent Monday to the Centers for Medicare and Medicaid Services, Grassley suggested the special treatment also extended to political intelligence brokers who “seek to profit from government information,” reports the Wall Street Journal.

Grassley posed a series of questions to the agency, wanting to know its policy for interactions with non-government employees and how it safeguards information raised during meetings.

The Senator noted that an agency whistleblower had alleged that “high level CMS employees attended lengthy information gathering briefings at the request of hedge funds and political intelligence brokers with no discernible benefit to CMS or the federal government.”

“By arranging for its employees to spend a significant amount of time meeting with these groups, CMS’ actions also rob the American taxpayer of these employees’ full value,” wrote Grassley, citing a Project on Government Oversight report that “more than a dozen senior staff were required to participate in a meeting with a Wall Street firm when their time could have been better spent on official duties.”


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR