FOLLOW THE WEEK ON FACEBOOK
February 11, 2016
JIM WATSON/AFP/Getty Images

After failing to win re-election as a Florida Representative in 2010, Alan Grayson started a hedge fund in 2011 — a spot on his resume that raised eyebrows when he was re-elected in 2012. While Grayson's role running a hedge fund as a sitting member of the House has already led to an investigation by the House Committee on Ethics, emails obtained by The New York Times show the extent to which Grayson's jobs were intertwined "and how he promoted his international travels, some with congressional delegations, to solicit business."

Grayson's hedge fund, which until recently had operations in the Cayman Islands, is questionable as well. Grayson has reportedly boasted about traveling to "every country" in the world while creating investment strategies that took advantage of companies suffering because of economic or political turbulence.

[A] hedge fund marketing document cited a quote attributed to an early member of the Rothschild banking family in advising that "the time to buy is when there's blood in the streets."

Mr. Grayson defended his approach. "What creates the opportunity is when people overreact to something bad happening," he said.

At least some of Mr. Grayson's global travel has been paid for by the United States government, congressional records show. Mr. Grayson has traveled in official congressional delegations to Finland, Iraq, Kuwait, Pakistan and Saudi Arabia, according to a tally of those records by LegiStorm, a website that assembles data on Congress. He has also traveled to Israel on an official trip paid for by a private group, according to LegiStorm. [The New York Times]

According to House rules, lawmakers are not allowed to hold outside jobs that make more than $27,495, although Grayson has said he didn't report any earned income from the fund despite some investors that would have been paying management fees. Read the full report in The New York Times.

Correction: An earlier version of this article erroneously stated that Grayson ran his hedge fund during his 2009-2011 years representing Florida's 8th congressional district. Grayson began the hedge fund in 2011, after he had left Congress and before his 2012 re-election. Jeva Lange

May 28, 2016

With 7 in 10 Americans reporting they are "frustrated" with the 2016 presidential election, this year could be the Libertarian Party's big chance — and America's largest third party is holding its national convention in Orlando, Florida, this weekend.

On the agenda: picking a presidential nominee from among three contenders. Though the contest is considered close, greatest name recognition belongs to former New Mexico Gov. Gary Johnson, who was the Libertarian nominee in 2012, when he picked up more than 1 million votes. Johnson recently polled at 10 percent nationally against Hillary Clinton and Donald Trump, and he would need 15 percent support to make it into the general election debates.

You can watch livestream of the convention proceedings below. The nomination is expected to take place around 5 p.m. Eastern on Sunday. Bonnie Kristian

May 28, 2016

Martin Short and Maya Rudolph stopped by The Tonight Show on Friday, so naturally host Jimmy Fallon had to find something totally outlandish for them to do together. The gang spoofed '80s cop shows with The Windy City Blue, a gag that gets progressively sillier — and windier — with each new bit. Hold onto your hat and watch below. Julie Kliegman

May 28, 2016
Yuri Cortez/AFP/Getty Images

The World Health Organization dismissed a call Saturday to move or cancel the Rio Summer Olympics due to the spread of the Zika virus. The U.N. agency was responding to a Friday open letter from 150 health experts urging them to delay or relocate the event "in the name of public health," citing the mosquito-borne virus' link to birth defects.

"Based on the current assessment of the Zika virus circulating in almost 60 countries globally and 39 in the Americas, there is no public health justification for postponing or cancelling the games," the group's statement read.

The Zika virus is thought to have originated in Brazil. Julie Kliegman

May 28, 2016
Chip Somodevilla/Getty Images

Speaking at Harvard University, Federal Reserve Chairwoman Janet Yellen said Friday that she expects to hike interest rates "probably in the coming months" if the economy continues to improve.

Yellen noted that "growth looks to be picking up from the various data that we monitor," referencing rising oil prices and a weaker, stabilizing dollar as the rationale for her decision, which corresponds with recent remarks from other Fed policymakers.

She argued that a gradual increase from the near-zero rate the central bank has maintained since the 2008 financial crisis "would be appropriate" to push inflation toward the Fed's 2 percent goal. Bonnie Kristian

May 28, 2016
Vaughn Ridley/Getty Images

Things are looking good for Cleveland Cavaliers star LeBron James, and not only because he's expected to star in the long-awaited Space Jam sequel.

James scored 33 points Friday in the Cavs' 113-87 rout of the Toronto Raptors. With the win, his team earned a spot in the NBA Finals against either the Oklahoma City Thunder or the Golden State Warriors, which would be a rematch of last year's contest.

This means, as The New York Times reports, that James is set to appear in his sixth-straight NBA Finals, and seventh overall. He's a two-time champ, both from when he took his talents to the Miami Heat. Julie Kliegman

May 28, 2016

Police arrested at least 35 people Friday at a San Diego rally for Donald Trump. About 1,000 people turned out to protest the hard-line immigration policies of the presumptive Republican presidential nominee, Reuters reports.

Clashes between protesters and supporters were largely non-violent, but police in riot gear began pushing and pepper spraying protesters.

Trump's campaign has come under fire for its history of conflict at rallies and its subsequent handling of both protesters and reporters. On Wednesday, police arrested protesters at Trump's Anaheim rally after they reportedly pelted officers with objects. Julie Kliegman

May 27, 2016

A Home Depot employee in Staten Island, New York, sparked death threats by wearing an "America Was Never Great" hat to work, The New York Times reports. Krystal Lake, 22, says she wore the hat after several co-workers wore pro–Donald Trump pins. "The point of the hat was to say that America needs change and improvement," Lake said. A company spokesman said Lake has been told never to wear the hat again. The Week Staff

See More Speed Reads