GLG’s reverse merger path towards becoming a publicly listed entity caught a lot of people offguard. If Blackstone got targeted by Congress because they were too flashy, then I wonder what the excuse will be if GLG gets some heat because this was a pretty subtle way of doing things. And unfortunately, I expect Washington will find numerous ways to question and pressure this deal. After all, I don’t think they like getting surprised so much that they look unprepared for the fight. At least BX gave the politicians a ton of time to soak up the publicity they seek. So prepare yourself to hear about a lack of regulatory oversight on “blank check” companies and reverse mergers. Oh and by the way, the protectionists will have a chance to rile up the troops over the fact that a Dubai company will have a 3% stake in GLG. Unfortunately, the political targeting of Hedge Funds and Private Equity is not over whether that means taxation, regulation, or whatever other means they plan to employ.