Hedge Funds, Buyout Firms Favor Democrats With Campaign Money

[cal04]

Hedge Funds, Buyout Firms Favor Democrats With Campaign Money

Democrats are collecting more than two-thirds of the campaign donations from employees of the biggest hedge funds and buyout firms, as the party taps into one of Wall Street's fastest-growing sources of wealth.

Of the $7.4 million contributed by employees of the 100 largest hedge funds and 50 biggest buyout firms in 2005-06, Democrats received $5 million, Federal Election Commission records show. The biggest checks went to congressional campaign committees led by New York Senator Charles Schumer and Illinois Representative Rahm Emanuel, which took in $2.8 million.

Donors say they're giving more to Democrats because of their dismay over President George W. Bush's performance on issues such as the war in Iraq and because they see a real chance for Democrats to win control of Congress for the first time in 12 years. They say they view Schumer and Emanuel -- who are courting Wall Street donors -- as key to that goal.

``Rahm and Senator Schumer are pretty charismatic guys -- they've been extremely aggressive in making sure they target the right people and talk to the right people,'' says Marc Lasry, managing partner at New York-based Avenue Capital Group, among the biggest hedge funds. ``Iraq has made it easier for Rahm and Senator Schumer to raise money.''

http://www.bloomberg.com/apps/news?pid=20601070&sid=abPcaWGJlFwo&refer=home

[skipos]

1. Democratic Presidents are historically better for the economy

Forbes has some ratings of ecomonic properity that verify this.

"Not surprisingly, Bill Clinton tops the magazine's prosperity chart. He is followed by two other Democrats – Johnson and Kennedy. The first Republican to show up is Reagan, who comes in fourth. No Democrat finishes lower than seventh (Truman), and the last three spots are all occupied by Republicans (Nixon, Eisenhower and George H.W. Bush). On a scale of one to eleven (one being Bill Clinton, eleven being the elder Bush), Democrats have an average ranking of 3.8, Republicans of 7.8."

http://www.americanprogressaction.org/site/pp.asp?c=klLWJcP7H&b=131769

That probably explains why democrats are better for the stock market too.

DOW SINCE 1901
Republican years Avg. annual change 6.9%
Democratic years Avg. annual change 13.3%
Source: Stock Trader's Almanac 2005

http://www.usatoday.com/money/perfi/columnist/krantz/2005-12-02-presidents_x.htm

[Tierra_y_Libertad]

2. Buying politicians is a favorite pastime of the real bosses.

But, as long as their greasing the palms of "our" politicians, I guess that's OK.

“America is a nation without a distinct criminal class...with the possible exception of Congress." - Mark Twain

[The2ndWheel]

3. Hooray!!!!!!

Now we won't mind if corporations are considered to be human because we'll be doing what they want. They did help our guys get elected by choosing the people we get to vote for.