The hedge funds that aced the midterm elections
By Lawrence Delevingne
Tue Nov 30, 2010
Charting the firms that backed the right elephants.
Hedge funds went long Republicans and short Democrats in the
November midterm elections, powering into office a fresh group
of political leaders who fund managers hope will keep taxes
low, corral regulators and limit the impact of financial reform
Representatives such as Eric Cantor (R-Va.), Ed Royce
(R-Calif.) and Scott Garrett (R-N.J.) and senators such as Pat
Toomey (R-Pa.), Marco Rubio (R-Fla.) and Mark Kirk (R-Ill.) all
enjoyed significant funding from hedge fund employees, either
directly or through political action committees (hedge funds
themselves can not contribute).
That successful bet is part of a broader shift to the right.
For the first time since 1996, hedge fund employees gave more
to Republican congressional candidates: would-be GOP
politicians took in $1.99 million, while $1.88 million went to
Democrats during the 2010 election cycle, according to...
TAKE A FREE TRIAL
The full contents of this article are available to Absolute Return subscribers and trialists only.
To continue reading please, take a free trial, subscribe or log in.
Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.