Business

Top hedge fund mgrs donate almost exclusively to Dems

The world’s top-earning hedge fund managers have bankrolled almost exclusively Democratic campaigns, according to Silla Bush of The Hill:

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.

The money went to Democratic campaign committees, individual lawmaker’s election bids and other political action committees.

In the 2010 campaign cycle, finance, insurance and real estate interest have given approximately 54 percent of contributions to Democrats versus the 45 percent Republicans have received, which might explain why labor unions have been miffed over the  contentious financial overhaul bill:

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.

Full story: Hedge funds donate big to Democrats