Jim Grant, in his latest Grant’s Interest Rate Observer, raises a number of troubling questions concerning the world’s biggest hedge fund, Bridgewater. Apparently Bridgewater has directly lent money to its auditor, KPMG. KPMG’s response is that "these lending relationships … do not and will not impair KMPG’s ability to exercise objective and impartial judgement in connection with financial statement audits of the Bridgewater funds". Yeah, right. James DrewVia e-mail
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