Bridgewater Associates' famed culture of "radical transparency"
may be coming to the Federal Bureau of Investigation.
||Jim Comey on
During his confirmation hearing before the U.S. Senate
Judiciary committee to become director of the FBI, former
Bridgewater general counsel Jim Comey said he hoped to apply
some of the techniques he practiced at Ray Dalio's $150
billion, 1,400 person hedge fund firm. Comey even said that
Dalio suggested he "consider taping all meetings at the FBI,"
but immediately joked that "I'm not prepared to commit to
Chuck Grassley, the Republican Senator from Iowa, asked
Comey about his time in the hedge fund world.
"At Bridgewater, your former employer, the founder of the
firm embraced a philosophy called radical transparency which
involves recording a lot of meetings and encouraging junior
employees to probe senior staff with tough questions," Grassley
said. "As a strong supporter of transparency in government, I
think the FBI could use a little more radical transparency. I
don't mean necessarily recording your meetings. What do you
think are the benefits of radical transparency and how could
this philosophy apply to the FBI?"
Comey responded positively to the idea.
"I went to Bridgewater in part because of that culture of
transparency. It's just something that's long been part of me.
And so I think it's incumbent on every leader to try and foster
an atmosphere where people will speak truth to power," Comey
said. "Bridgewater and the FBI are two different institutions,
but I promise you I will carry those values with me and try and
spread them as far as I can within the institution."
Comey, the former U.S. Deputy Attorney General, worked as
Bridgewater's top lawyer from September 2010 to January 2013.
He previously embraced Dalio's unique management style
in a video testimonial on the firm's website.
"President Obama could not have picked a man with greater
integrity or a stronger moral beacon than Jim Comey," Dalio
told Absolute Return in May.
Comey may still be due a big paycheck from Bridgewater.
Comey said he expected to receive $163,000 from the firm on
June 30 and, if he is confirmed, a profit sharing payout of
$3.07 million, according to a
public Senate questionnaire.
Former Bridgewater GC likely to lead FBI |
Ray Dalio's Radical Truth