Congressional Democrats Assist Ackman In Wall Street Feud

Congressional Democrats assist billionaire hedge-fund manager in Wall Street feud by Josh Kaib and Will Swaim of Watchdog.org / Franklin Center

Two years ago, billionaire hedge-fund manager William Ackman announced boldly — from a stage in a Manhattan conference center — that his Pershing Square Capital Management had taken a $1 billion short position on publicly traded Herbalife Ltd. (NYSE:HLF), the Los Angeles-based maker of nutrition products.

Bill Ackman - Photo via Bloomberg

He was, in other words, betting that Herbalife would fail.

Hoping to persuade investors to bail on the company’s stock, he has repeated the claim he made then — that Herbalife unfairly...