Business

Former Obama official’s revolving door leads to hedge-fund defense project

Anita Dunn, the former Obama administration official who was critical of hedge funds during her time as White House communications director, is now directing a Democratic consulting firm’s campaign aimed at rehabilitating the image of hedge fund managers.

She previously called hedge funds a major cause of the 2008 economic collapse, The Washington Free Beacon reported. Now, however, her job involves combating the very kind of claims she leveled against the industry.

Dunn, a managing director at the Democratic consulting firm SKDKnickerbocker, is being touted by the PR firm McLean/Clark LLC as the director of “paid media” for a pro-hedge-fund campaign it’s shopping to potential funders.

The campaign appears to be the firm’s version of a Public Service Announcement on behalf of hedge funds.

“Hedge Funds have fueled American prosperity for a generation, and been a major engine of growth during these tough economic times,” according to a McLean/Clark proposal obtained by The Free Beacon. “Yet they remain misunderstood and mistrusted by the media, elected officials, regulators, national opinion leaders and the general public.”

Dunn’s position as “paid media” consultant is listed in the McLean/Clark proposal.

“First we see Dunn attack us on television,” said a target of Dunn’s proposal, “and then she tells us to hire her to head off the exact attacks that she herself is hurling at us. The entire thing begins to stink like a protection racket.”

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