Less than one month after President Trump’s inauguration and Chelsea Clinton’s husband Marc Mezvinsky has decided to shut down Eaglevale Partners, the hedge fund he co-founded with former Goldman Sachs traders Mark Mallon and Bennett Grau in 2011.
According to Bloomberg, Eaglevale Partners is now in the process of returning money to its clients.
The decision to close comes after the company lost 90% of its $300 million value after making a bad bet on the Greek economy. Mezvinksy’s experience in the hedge fund industry was plagued with trouble from the beginning, and it was likely his connection to the powerful Clinton family that kept him afloat.
But that family is growing weaker by the day.
As I wrote in January, Bill and Hillary decided to shut down the Clinton Global Initiative (CGI) in preparation for an expected White House victory. The foundation is closing its doors despite Hillary’s loss, and some of the “charity’s” biggest investors have already pulled out.
Hillary’s failed presidential campaign coupled with the email scandal, bad publicity from the Clinton Cash documentary, and other troubles continue to plague her – not to mention all the folks who gave her money in anticipation of future favors from our first female president.
Hillary’s power is certainly waning, but Punching Bag urges President Trump not to overlook the threat she continues to pose.
“The specter of foreign influence on American politicians can not be allowed to continue, and the attempts must be punished, not rewarded,” explains PB’s Joe Gilbertson here.