WHYY: “McCormick Has Faced Criticism Recently For […] Reports […] That He Invested In Chinese Fentanyl Companies”

PENNSYLVANIA - Connecticut hedge fund CEO and mega-millionaire David McCormick’s investments in the biggest fentanyl producer in China are in the spotlight this week following a new report from Keystone Newsroom.

What Pennsylvanians Are Reading:

WHYY:

- McCormick has faced criticism recently for his time as the CEO of Pittsburgh-based software company Freemarkets and at Bridgewater Associates, including investigative reports about his claim to have “created hundreds of jobs” and that he invested in Chinese fentanyl companies before calling for a ban on those same imports.

What Pennsylvanians Are Hearing:

WHYY:

- Host: He frequently positions himself as a “jobs creator.”

- Carmen Russell-Sluchansky: Yeah, he regularly takes credit for jobs created by a company he worked for in the early aughts called FreeMarkets. Only it turns out that the company actually reduced its Pennsylvania based workforce after he took over as CEO and then later in a merger with another company. 

- Carmen Russell-Sluchansky: So I feel like I should mention that it’s been reported that while he was CEO, his hedge fund, Bridgewater Associates, was very invested in a Chinese fentanyl producer.