What a Lovely Family

Chelsea Clinton's husband, Marc Mezvinsky, just shuttered a hedge fund after losing 90% of his investor's money:

Despite having Goldman Sachs CEO Lloyd Blankfein as an investor and being Bill and Hillary Clinton's son-in-law, Marc Mezvinsky (and two former colleagues from Goldman Sachs who manage Eaglevale Partners hedge fund) told investors in a letter last February they had been "incorrect" on Greece, generating staggering losses for the firm’s main Eaglevale Hellenic Opportunity, a/k/a the "Greek recovery" fund during most of its life. By 'incorrect' the Clinton heir apparent meant the $25 million Eaglevale Greek fund had lost a stunning 48% in 2014.

Which is not to say the larger fund it was part of is doing any better: as of last February, Eaglevale had spent 27 of its 34 months in operation below its high-water mark. We are confident that 13 months later the numbers are 40 out of 47, respectively.

………

Meanwhile, things went from terrible to abysmal for both the clueless hedge fund manager and his LPs, and as the NYT reports, Hillary Clinton's son-in-law is finally shutting down the Greece-focused fund, after losing nearly 90% of its value.  Investors were told last month that Eaglevale Hellenic Opportunity would finally be put out of its misery and would shutter.

The closure comes as the worst possible time: we are confident that Donald Trump will be quick to work it into his political attack routine.

While there is no indication of legal or ethical wrong doing, I guarantee that Mezvinsky made his millions in various fees out of this fiasco.

This might be ONE reason why Clinton is so dedicated to preserving the, "Heads I win, tails you lose," ethos of  Wall Street.