Citadel’s Kenneth Griffin Forgot He Was Speaking to a Room Full of Hedge Funds

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Kenneth Griffin, founder and chief executive officer of Citadel LLC, speaks at the annual Milken Institute Global Conference in Beverly Hills, California, U.S., on Tuesday, May 3, 2011. The conference brings together hundreds of chief executive officers, senior government officials and leading figures in the global capital markets for discussions on today's most pressing social, political and economic challenges. Photographer: Jonathan Alcorn/Bloomberg via Getty Images Photo: Bloomberg/2011 Bloomberg

At the morning panel at the Skybridge Alternative Conference at the Bellagio in Las Vegas, Citadel hedge-fund founder Kenneth Griffin took a surprising position on the "too big to fail" part of the Dodd-Frank bill that designates banks as systemically important. “There’s a grave concern that 'systemically important' will create the largest moral hazard that we’ve seen in the financial world,” he told a ballroom full of investors and hedge-fund managers. Says DealBook, "That one landed with a thud." [DealBook/NYT]