When she first hit the campaign trail, US Democratic presidential candidate Hillary Clinton came out swinging against carried interest tax. “There’s something wrong when hedge fund managers pay lower tax rates than nurses or the truckers that I saw on I-80 as I was driving here over the last two days,” Clinton declared during a campaign stop in Iowa.
She’s been repeating a similar sentiment recently, specifically mentioning the hedge fund industry. For many, the tactic is unsurprising, given Clinton’s aims to distance herself from Wall St. prior to the primary election. But for one manager, the comments are personal.
“I don’t need anybody crapping all over what I do for a living,” said Leon Cooperman, founder of Omega Advisers in a June interview with CNN. He went on to point out that Clinton “hangs out with all these people in Martha’s Vineyard and in the Hamptons and then the very first thing she has to say is to criticize hedge funds.”
“I have nothing to apologize for. I’ve made a lot of money. I’m giving it all back to society,” he added.
We might have expected Cooperman, who was born and raised in the Bronx, to have a thicker skin.