While hedge fund managers might be presumed to be eager to help the GOP beat back Wall Street reform, the reality is that the biggest of the big-time spenders funneled their donations primarily to Democrats, the party that holds Congress and the White House.According to an analysis done by the Center for Responsive Politics for ABC News, the five biggest hedge fund donors all gave almost all their donations to Democrats.
The most any individual can contribute in aggregate to candidates, party committees and PACs, in any one election cycle, is $115,500. For some hedge fund managers, that would barely amount to what they make per hour. Hedge funds make money for big investors by trading a wide range of securities, often using leverage and selling short -- betting that a stock, bond or even a mortgage security will fall in value.
A suspicious person might think that all this Democrat demonization of Wall Street is just theater. Actually, every person should think that.
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