The story of West Chester twin investors Kevin and Richard Gates was cited as Exhibit A in a U.S. Senate confirmation hearing in Washington DC last week that the RTO Insider said left Federal Energy Regulatory Commission appointee Norman Bay “bruised.”
The Gateses, local quantitative investors and mutual fund managers targeted by a Bay investigation, sat in the row behind Bay (behind and to the right of nominee Bay), with Richard Gates viewed on camera for the entirety of the two-hour hearing, the report said.
“Based on the senators’ comments at the Energy and Natural Resources Committee hearing, Bay will likely need every Democrat — or will have to pick off a Republican or two — to win confirmation,” the RTO Insider concluded.
Read more about the “bruising” committee hearing in RTO Insider here.
Previous coverage of the Gates’ fight with FERC here.