Tag Archives: Rich

Richest hedge fund managers gave 98% of contributions to Democrats

Story here on Big Government. (H/T ECM)

Excerpt:

The world’s top-earning hedge fund managers have bankrolled almost exclusively Democratic campaigns.

The top 10 highest-paid hedge fund managers in 2009 have dished out campaign contributions almost only to Democrats.

Over their lifetimes, those managers have given almost $33 million in campaign contributions to Democrats, according to research by the National Republican Congressional Committee (NRCC) and that is based on data maintained by the nonpartisan CQMoneyline.

The same managers gave roughly $600,000 to Republicans, according to the research. The contributions went 98 percent to Democrats and two percent to Republicans.

But there’s more:

As the Senate prepares to debate possibly hundreds of amendments to a Wall Street overhaul bill, labor unions and others have criticized the bill for not having tough restrictions on hedge funds.

“It’s very disconcerting to see this legislation moving forward that gives them a complete pass,” said Heather Slavkin, of AFL-CIO.

I wonder if the two facts are connected in some way? Maybe.

Related posts

    Milton Friedman shows why capitalism is the economic view of grown-ups

    Here’s one video:

    And another:

    Socialism only makes sense when you don’t think things through. There is a finite number of things in the universe. If you want to fix one situation, you’re going to break something else. The only question to decide, then, is who should decide how money is spent. Is it the government who decides? Or individuals? Which party is better at choosing? Which party has more to gain or lose from good and bad choices? Which party has the incentive to make the right choice, because they earned the money, and is responsible for the result of spending it one way or another?

    The real world is not perfect. There are risks and trade-offs everywhere in life.

    (H/T Laura at Pursuing Holiness)

    Democrat Waxman believes that opposing Obama’s energy tax is equivalent to opposing America

    Check out this Politico.com post. (H/T Hot Air)

    Excerpt:

    Rep. Henry Waxman (D-Calif.), who has had an eventful couple of weeks to say the least, believes House Republican opposition to climate change legislation and the stimulus indicates they’re cheering against the good ol’ US of A.

    “It appears that the Republican Party leadership in the Congress has made a decision that they want to deny President Obama success, which means, in my mind, they are rooting against the country, as well,” the powerful House Energy and Commerce Committee chairman told WAMU radio host Diane Rehm on Tuesday morning, promoting his new book, “The Waxman Report.”

    All the lies they spoke about that Christian fascist Bush was just so much projection, foreshadowing how they themselves would deal with “unpatriotic” dissent.

    Al Gore and Goldman Sachs

    In a related story, repeat college drop-out Al Gore (NOT A SCIENTIST) equated his war on global warming to the war against Nazism.(H/T Gateway Pundit)

    Excerpt:

    Al Gore today compared the battle against climate change with the struggle against the Nazis.

    …Speaking in Oxford at the Smith School World Forum on Enterprise and the Environment, sponsored by The Times, Mr Gore said: “Winston Churchill aroused this nation in heroic fashion to save civilisation in World War II.”

    And he has good reason to do so, given that his personal fortune has skyrocketed from $2 million to over $100 million. Oh, don’t let those tolerant Democrats fool you. If you oppose their greed and lust for power, then you’re worse than Satan. How dare you assert your rights to liberty and prosperity against the power of their oligarchy?

    And he isn’t the only one who is ready to cash in. The employees of investment firm Goldman Sachs donated tons of money to Democrats, and they are positioned to strike it rich if cap-and-trade passes. Steve Milloy writes that “Goldman Sachs has spent millions of dollars lobbying for cap-and-trade legislation in anticipation of making billions of dollars at the expense taxpayers and consumers.”

    The war on small business

    Here is a Fox News article that describes how the cap-and-trade bill championed by Democrats like Waxman and Gore destroys small businesses. (H/T Gateway Pundit)

    Excerpt:

    David McArthur, vice president of the 52-year-old family operation, a Gateway City institution, is one of a growing number of business owners and taxpayers nationwide who are mobilizing against the so-called cap-and-trade bill, which would levy harsh fines on energy consumption that harms the environment.

    McArthur told FOXNews.com that every aspect of his business relies on the forms of energy targeted by the American Clean Energy and Security Act, and that his congressman, Carnahan, was supporting “a direct tax increase on small business” by voting for it.

    “We make (our product) with electricity, we bake it with gas, we refrigerate and freeze it with electricity and we distribute it with gas and oil,” said McArthur, who said he worries that high prices could cost his company up to $15,000 a year in an industry with a very tight margin for profit.

    This is cause-and-effect, people. There is a reason why Cuba and North Korea are poor today – they voted in radical leftists just like Obama. This is the way the world actually works.

    Obama’s energy tax ships jobs overseas

    The Times Online reports that India and China decided against crippling their economies for the myth of global warming. (H/T Hot Air)

    Excerpt:

    As world leaders sat down for a working lunch at the start of a three day meeting of the G8, it emerged that negotiations had failed to reach agreement on halving greenhouse gas emissions by 2050.

    Summit negotiators, who do the hard bargaining before the heads of state arrive to complete the agreements, failed to make progress on the issue in talks that continued late last night. China and India are understood to have blocked any mention of the target in the draft communiqué, insisting that the developed economies should promise to cut their own emissions sharply by 2020 before asking developing nations to commit to a long term target.

    The breakdown in negotiations has undermined President Obama’s chances of producing a diplomatic coup when he chairs talks on climate change at a meeting of the 17-nation Major Economies Forum tomorrow.

    Where do you think all our manufacturing jobs will go when it becomes expensive to manufacture goods here?

    Meanwhile, WattsUpWithThat reports that Prince Edward Island in Canada is seeing the first frost ever in July.