The Web site ctpost.com is running an article by "Peter H. Stone and Michael Isikoff, The Center for Public Integrity and NBC News," under the headline, "Hedge-fund execs bankrolled GOP victory campaigns." The article makes hay out of some campaign contributions to Republicans by hedge fund managers, but it entirely omits the many hedge fund managers who gave thousands of dollars to Democrats.
One doesn't have to be a veteran investigative reporter like Michael Isikoff or a non-profit-organization with funding from big foundations like the Center for Public Integrity to figure this out. A simple online search of the Federal Election Commission database will do. Orin Kramer of Boston Provident gave $2,400 in February 2010 to the campaign of Connecticut Democrat Jim Himes, and on September 30, 2010, he put $25,000 into something called the America's Families First Action Fund, an "independent expenditure group." The America's Families First Action Fund also took in $250,000 in October 2010 from Vin Ryan, founder and chairman of Schooner Capital, which "invests in hedge funds, private equity funds, venture capital funds, and other specialized alternative asset structures across sectors and across the globe." Then there's hedge fund manager Whitney Tilson, who donated $1,000 to the Democratic Senatorial Campaign Committee in October 2010, and, also in 2010, $1,500 to Democratic congressional candidate Krystal Ball, $1,000 to Democratic Senator Russell Feingold, $1,000 to Democratic Senator Michael Bennet, and $1,250 to Democratic Congressman George Miller. And Avenue Capital's Marc Lasry, who donated $4,800 to Democrat Anthony Weiner, $4,800 to Democratic Congressman Michael Arcuri, and, in 2009, $30,000 to the Democratic Senatorial Campaign Committee.
I'm sure there are plenty of others, too. But for some reason, hedge fund folks giving to Democrats is less of an attractive story to the press than is hedge fund folk giving to — sorry "bankrolling" — Republicans.
