|Jim Meddick's Monty comic of July 4, 2012|
A quick search for David McCormick reveals that in addition to his position as co-CEO of the Bridgewater Associates hedge-fund, he is a fellow at the Aspen Institute and a former Under Secretary of the U.S. Treasury. He is part of the revolving door among think tanks, financial institutions, and government agencies that ensure that policy never threatens the interests of the 0.01 Percent.
His partner at Bridgewater Associates finds the phrase "hedge fund" distasteful and Fortune -- in its fawning profile of the company -- seems to agree. By leveraging its financial bets at a ratio of "only" four-to-one, it is considered more staid than its peers. More careful and conservative than Mitt Romney and Baine Capital, McCormick and Bridgewater manage to make even more money. Bridgewater is able to charge its clients hefty fees because its dispassionate (i.e., amoral) investment algorithms provide protection against the fluctuations inherent in a market economy -- fluctuations that affect only the 99 percent.