Prof. Painter Quoted in Bloomberg on Hedge Funds

Professor Richard Painter was quoted in Bloomberg magazine in an article on a 2008 meeting in which hedge fund managers sought and apparently got nonpublic information from Treasury Secretary Hank Paulson on the Treasury Department bailout program. Painter observed that the information Paulson apparently gave the hedge funds was of the type hedge funds seek every day and that trading on nonpublic government information is a major problem.