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A Hedgie Heading For Congress?

Congress has all sorts of professionals, mostly legislators and congressional staffers, but Jack Carter could become the first hedge fund consultant in the next Congress.

Congress has all sorts of professionals, mostly legislators and congressional staffers, but Jack Carter could become the first hedge fund consultant in the next Congress. The eldest son of President Jimmy Carter is making a bid to replace freshman Republican Sen. John Ensign of Nevada, and if the 58-year-old Carter wins, he could be the only hedge fund professional in Congress, taking his place among other unique resume entries, which include a professional magician (Sen. Robert Byrd, D-W.Va.), a riverboat captain (Rep. Don Young, D-Alaska) and a racetrack blacksmith (Sen. Lincoln Chafee, R-R.I.) among others.

Carter – an outspoken critic of the Bush administration and a novice to politics -- and his wife, Elizabeth, established Carter Global, an investment consulting firm that specializes in hedge funds in 2002, after the Carters moved to the state from Bermuda. His chances of winning reportedly depends on getting support from the state's other senator, Senate Minority Leader Harry Reid, also a Democrat, who is said to have a good relationship with the incumbent Ensign. Besides, Ensign's campaign war chest already has $2.1 million, while Carter, the spitting image of his father, may have peanuts in his.

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