Pyramids and politics

The New York Times reports that hedge-fund king Daniel S. Loeb is backing the Herbalife company against accusations that it’s a pyramid scheme. That pits him against his friend and rival, William Ackman, in what one source calls a “battle bigger than any sumo pairing.”

Of course, Loeb backed former Indiana Superintendent of Public Education Tony Bennett, too, with a $25,000 campaign contribution. Maybe Herbalife should worry, given the way that turned out.

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