Hedgy Bet

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Much has been made of the millions upon millions of dollars that 2008 presidential candidates will have to raise- this article from The New York Times adds insight on where a big chunk of that money will come from: lucrative relationships with hedge fund managers who can not only donate thousands in their own right, but bundle big checks from their friends.

 

The article discusses a potential "invasion" of hedge-funders in the political fundraising world and who some of the bold-face names will be. What struck me was this quote from Byron Wein, an investment strategist: “Are hedge fund guys going to be happy with their art collections and their houses in Greenwich or are they going to take the next step?” Now there's an alarming thought: elected officials and, by extension, public policy mere acquisitions, or worse, amusing hobbies of the super-wealthy.