Category: Politics

  • Candidates follow the money – to hedge fund billionaires (Muckety)

    Willie Sutton robbed banks because that’s where the money is.

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    Political candidates go hat in hand to hedge fund managers because that’s where even more money is.

    Andrew Ross Sorkin of The New York Times reported yesterday that four of the top 10 earners among hedge fund managers last year have given to Sen. Barack Obama of Illinois, a candidate for the Democratic presidential nomination.

    Richest amongst these Obama givers is George Soros of Soros Fund Management, who earned $2.9 billion in 2007 to be ranked second on the list of top earners.

    Sen. Hillary Rodham Clinton of New York, the other Democratic contender and the winner of Tuesday’s Pennsylvania primary, has one of the top 10 on her side.

    James H. Simons, of Renaissance Technologies Corp., the number 3 earner at $2.8 billion has given her $4,600.

    Sen. John McCain of Arizona, the presumptive Republican candidate, didn’t get any direct contributions from the top 10 earners on the list, which was compiled by Alpha magazine.

    Some of the top 10 moneymen, including John A. Paulson of Paulson & Company, number 1 on the list at $3.7 billion, gave to other Republican candidates. (Paulson went with former New York City mayor Rudolph Giuliani.)

    And some of the hedge funders either didn’t give or gave to committees, not candidates.

    The amount given directly by these billionaires is miniscule — “pocket lint,” in Sorkin’s term. Federal law prevents them from contributing more than $4,600 directly to candidates. (That’s $2,300 for the primaries, $2,300 for the general election.)

    But their donations may give some indication of the candidates they think will win or will be kindest to the now lightly regulated hedge fund market.

    On the strength of the top 10 earners, it would seem that these very rich people are betting on an Obama win.

    However, a look at the full list of top 50 earners reveals a more mixed message.

    Both Clinton and McCain pick up support in the middle and lower ranges of the list, a list that ends with the very wealthy David Shaw of D.E. Shaw & Co. at number 50.

    Shaw, who cleared $210 million in 2007, has given $4,600 to Clinton and $58,500 to Democratic groups, according to openSecrets.org.

    Other managers in the tail end of the top 10 list went with Clinton.

    Thomas Steyer (no. 43), a $230 million earner at Farallon Capital Management, and Marc Lasry (tied for 44), who took in $225 million at Avenue Capital Group, sent money her way.

    (Until she took a leave to help with the campaign, Clinton’s daughter, Chelsea, was working for Avenue Capital.)

    Daniel Och of Och-Ziff Capital Management, who was tied for 41st with $245 million in earnings, gave to both Clinton and McCain.

    He also contributed to Giuliani and to another candidate who dropped out, Sen. Christopher Dodd, a Democrat from Connecticut.

    Several other top 50 hedge fund managers have hedged their bets on the presidential race. None did it more broadly than Seth A. Klarman of Baupost Group, Inc., who made $425 million in 2007 and finished at number 15 on the list.

    Klarman has given to Clinton, McCain and Obama. He’s also given to Giuliani, former Massachusetts governor Mitt Romney, a Republican, to Dodd, as well as to Sen. Joseph Biden, the one-time Democratic candidate from Delaware.

  • Julie Nixon Eisenhower: Barack Obama supporter and Republican Leadership Council director

    Julie Nixon Eisenhower, the daughter of former president Richard Nixon and his wife Pat, has donated $2,300 to Barack Obama’s presidential campaign, the maximum amount allowed for the primary election cycle.

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    Julie and her husband David Eisenhower are both directors of the Republican Leadership Council, a political action committee “which advocates for the historic Republican principles of liberty, individual responsibility, and personal freedom,” according to the PAC web site.

    David Eisenhower is the grandson of President Dwight Eisenhower. Richard Nixon was his vice president and David and Julie reportedly met at the 1956 Republican National Convention.

    Susan Eisenhower, Julie Nixon Eisenhower’s sister-in-law and a granddaughter of President Eisenhower, also supports Barack Obama. In February, the Washington Post published an opinion piece by Susan Eisenhower entitled “Why I’m Backing Obama.”

    In the op-ed she seems to be taking aim at the policies of the current president when she quotes her grandfather:

    “As we peer into society’s future,” he said, we “must avoid the impulse to live only for today, plundering, for our own ease and convenience, the precious resources of tomorrow. We cannot mortgage the material assets of our grandchildren without risking the loss also of their political and spiritual heritage. We want democracy to survive for all generations to come, not to become the insolvent phantom of tomorrow.”

    She notes that her grandfather won the election with the support of Democrats and Republicans attracted to his pledge to bring change to Washington. She continues:

    It is in this great tradition of crossover voters that I support Barack Obama’s candidacy for president. If the Democratic Party chooses Obama as its candidate, this lifelong Republican will work to get him elected and encourage him to seek strategic solutions to meet America’s greatest challenges. To be successful, our president will need bipartisan help.

    Tricia Nixon Cox, Julie Nixon Eisenhower’s sister, and her husband Edward Cox are both supporters of the presumptive GOP nominee John McCain.

    Obviously, the Kennedys don’t have a monopoly on lively conversation at family gatherings.

  • Patron of ‘vast right-wing conspiracy’ endorses Hillary Clinton

    On the eve of today’s Democratic primary in Pennsylvania, conservative patron and publisher Richard Mellon Scaife did an historic turnabout on New York Sen. Hillary Rodham Clinton.

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    On Sunday, Scaife’s newspaper, the Pittsburgh Tribune-Review, endorsed Clinton, saying that Clinton had demonstrated political courage, while Obama had not. If that wasn’t strange enough, Clinton’s campaign put out a release touting the endorsement.

    For those who may have forgotten, this is the same Scaife who used the Tribune-Review in the 1990s to try to prove that Clinton killed White House Deputy Counsel Vincent W. Foster Jr., who committed suicide in 1993.

    Scaife has repeatedly called Foster’s death “the Rosetta stone to the Clinton administration” (a reference to the stone found in Egypt that allowed scholars to decipher ancient hieroglyphics), the Washington Post wrote in 1999.

    Scaife also gave $2.3 million to the American Spectator magazine to unearth dirt on former President Bill Clinton and supported other conservative groups that pilloried his administration. After hiring private investigators, the magazine reported that Clinton had asked state troopers to help procure women for him and that he had sexually harassed a state worker named Paula Jones. Jones’s legal case against Clinton helped launch an independent counsel investigation that eventually exposed his relationship with White House intern Monica Lewinsky.

    At the time, First Lady Clinton railed against “a vast right-wing conspiracy that has been conspiring against my husband since the day he announced for president,” and identified Scaife as its benefactor.

    Beyond that, Slate’s Tim Noah describes Scaife as “a raging misogynist. “In 1981, Noah recounts, Scaife called a reporter for the Columbia Journalism Review a “fucking Communist cunt”; more recently, he had his wife arrested and jailed for trespassing when she sought to confront him over his extramarital affair with a woman twice arrested for prostitution.

    All of which is to say that the Tribune-Review’s endorsement appears a bit suspect – notwithstanding that Scaife telegraphed a change of heart last month after Clinton sat down with him and the paper’s editorial board.

    Afterward, in an editorial headlined, Hillary, Reassessed, Scaife declared that her courage in attending the meeting “changed my mind about her.”

    Perhaps. But perhaps the patron of conservative causes is simply pushing Clinton because he believes that she would be easier to defeat in the fall than Barack Obama.

    The Tribune-Review is the largest newspaper in Pennsylvania to have endorsed Clinton. The Philadelphia Inquirer, the Philadelphia Daily News, the Pittsburgh Post-Gazette, the Scranton Times Tribune and the Morning Call of Allentown all endorsed Obama.

  • New Freedom’s Watch looks a lot like old Republican Congressional Committee (Muckety.com)

    Freedom’s Watch was ballyhooed last year as the Republicans’ answer to MoveOn.org. It was to be a grassroots conservative group bankrolled by billionaire conservatives like Sheldon Adelson of the Sands Corp.

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    But after a splashy debut last summer with a $15-million ad blitz supporting American troop escalation in Iraq, came months of silence. Late last month, the board announced that it had replaced president Bradley Blakeman, a former Bush operative, with Carl Forti, political director of Mitt Romney’s campaign and an alumnus of the National Republican Congressional Committee. The New York Times described the group last week as all-but-moribund, an organization “plagued by gridlock and infighting, leaving it struggling for direction.”

    And then, as quick as you can say, ‘tax-and-spend Democrat,” the new Freedom’s Watch arrived this week – running attack ads in Baton Rouge designed to influence a May 3 special election for Louisiana’s 6th Congressional district. The ads portray state Rep. Don Cazayoux as a Democrat who never met a tax he didn’t like. Cazayoux is favored to win in a tight race with former state Rep. Woody Jenkins in a traditionally Republican district.

    There are two potential problems: As a 501(c)(4) organization, Freedom’s Watch cannot coordinate with the Republican Congressional Campaign Committee, the campaign arm of House Republicans, or advocate for or against a particular candidate.

    Asked about the decision to weigh in on the Louisiana race, Forti told the Washington Post that “tax policy is an enormously important issue nationally, and it is increasingly dominating the public policy debate.” He added that “with the economic slowdown, it’s important taxpayers know Don Cazayoux has a record of voting to raise taxes and fees on everything from groceries to hunting and fishing licenses.”

    But the Democratic Congressional Campaign Committee filed a complaint with the Federal Election Commission, saying the ads use the same script as earlier ads from the NRCC, and therefore show illegal coordination.

    Patrick McCarthy, the media consultant who wrote the Cazayoux ad for Freedom’s Watch and a former staffer of the NRCC himself, said an innocent mistake caused the document to appear as if it came from the NRCC. McCarthy said he pulled up an old ad template from his NRCC days and wrote the Louisiana ad script over it, then saved the file and sent it to the TV stations.

    “It’s absurd on the face of it. They’re grasping at straws if they’re saying recycling an old Word document is illegal,” said McCarthy who now works at Designated Market Media, whose partners all come from the RNCC or the Bush White House.

    But perhaps it’s more absurd to think that Freedom’s Watch could be a separate and independent organization when its lineup is also an NRCC alumni Club. Besides Forti and consultant McCarthy, there’s also Ed Patru, a former NRCC spokesman.

  • Geoffrey Garin fills Penn’s post in Clinton campaign

    Sen. Hillary Rodham Clinton replaced one pollster and a strategist with another Sunday, letting Mark Penn go and filling his place with Geoffrey Garin.

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    In elevating Garin, Clinton gives prominence to a Washington insider who is well connected and seems to carry little of the baggage Penn brought to his role.

    The adjective “well-respected” seems glued to Garin’s name in press accounts. The adjectives “controversial,” “abrasive,” “gruff” and “rumpled” were always pasted on Penn.

    Penn had been serving as Clinton’s chief political strategist until he stepped down Sunday. He is also the chief executive of the Burson-Marsteller, a public relations firm.

    Reportedly, Clinton had been angered that Penn and Burson-Marsteller were working to help the government of Colombia obtain a trade agreement with the United States.

    Clinton opposes the alliance. Penn’s connection to Colombia could have hurt her with voters in the April 22 Pennsylvania primary.

    “The important thing is just to win,” Garin told The Washington Post after he took over for Penn. “My view is the campaign has to focus on the work of April and May and the early part of June and do well at all of that. So on one level, first things first.”

    Garin, 54, who joined the Clinton campaign last month as a pollster, has been president of Peter D. Hart Research Associates since 1984. He joined the company in 1978 as a senior analyst and vice president.

    While at the company, he has worked as a pollster and strategist for several Democratic senatorial candidates. They include Charles Schumer of New York, Dianne Feinstein of California and Robert C. Byrd of West Virginia.

    He has also worked with the Bill & Melinda Gates Foundation, the Pew Charitable Trusts, the AFL-CIO and the American Federation of Teachers.

    Garin’s connections to unions could help Clinton in Pennsylvania with some of the voters she needs to win the state and slow the momentum of Sen. Barack Obama.

    Evan Miller of The New Argument blog notes that Garin gave some unsolicited advice to the Clinton campaign in February, advice the campaign ignored.

    “If I were Hillary Clinton, the last thing I’d be doing is talking about super delegates, because the voters don’t want to hear that,” Garin said. “She really needs to make the case about why she’s the better candidate to lead the country.”

    In other comments, Garin has emphasized the importance of speaking to the economic issues that are on people’s minds.

    But at this moment in the Clinton campaign, personnel issues may be as important as policy issues.

    Penn was in the middle of months of internal fighting. He seemed to have alienated everyone but Clinton and her husband, Bill Clinton.

    Wolfson and Garin don’t have this history of contention, The Washington Post reported.

    “People like Howard and Geoff,” one campaign aide said. “I presume there will be less strife.”

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    2 Comments

    • #1.   Perry Washburn 04.10.2008

      Found Muckety by accident. Has the TU come back to life?

    • #2.   Carol Eisenberg 04.10.2008

      Hey Perry. No corporate overseer in this iteration.

    Leave a Comment


  • Heston’s journey from left to right

    He played Moses and Michelangelo, but Americans under 40 are more likely to know Charlton Heston as the conservative activist who walked out on filmmaker Michael Moore.

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    Heston, who died Saturday night at the age of 84, was once the best-paid actor in Hollywood thanks to his iconic roles in films such as Ben-Hur and The Ten Commandments. After making Planet of the Apes in 1968 and The Omega Man in 1971, however, his acting career went into decline even as he gained prominence on the political stage.

    Those who recall him as president of the National Rifle Association may be surprised that Heston started out as a liberal Democrat. He campaigned for Adlai Stevenson in 1956 and John F. Kennedy in 1960. He opposed Hollywood censors’ attempts to prettify the language in Ben-Hur. He supported a gun control law, passed under President Lyndon Johnson, that forbade addicts and federal convicts from owning guns, and regulated interstate commerce in firearms

    He was also a leading advocate of civil rights, raising money for the cause and joining Martin Luther King Jr.’s March on Washington in 1963 along with Harry Belafonte, Jackie Robinson, Paul Newman, Josephine Baker and Bob Dylan—none of whom can be imagined as a conservative. Two years earlier, he had picketed a segregated theater in Oklahoma that was showing one of his movies.

    “We certainly disagree with his position as NRA head and also his firm, firm, unwavering support of the unlimited right to bear arms,” said Earl Ofari Hutchinson, president of the Los Angeles Urban Policy Round Table, a civil rights group. “Charlton Heston was a complex individual. He lived a long time, and certainly, there were many phases. The phases we prefer to remember were certainly his contributions to Dr. King and civil rights.”

    As he got older, however, Heston’s politics swung rightward. He seemed to follow the lead of Ronald Reagan, who had preceded him as president of the Screen Actors Guild (”Ronald Reagan was my president before he was yours,” Heston once wrote) and also as a liberal Democrat. Heston campaigned for Reagan and for both Bushes when they ran for president.

    In a 1997 speech, he deplored a culture war being waged against “the God fearing, law-abiding, Caucasian, middle-class Protestant–or even worse, evangelical Christian, Midwestern or Southern—or even worse, rural, apparently straight–or even worse, admitted heterosexuals, gun-owning-or even worse, NRA-card-carrying, average working stiff–or even worse, male working stiff–because, not only don’t you count, you are a downright obstacle to social progress.”

    He resigned from Actors Equity, calling the union’s refusal to allow a white actor to play the part of a Eurasian in “Miss Saigon” “obscenely racist.” By then, he also opposed affirmative action and criticized CNN’s coverage of the Gulf War as sympathetic to the Iraqis.

    A staunch defender of the Second Amendment, Heston was elected president of the N.R.A. in 1998. “Those wise old dead white guys that invented this country knew what they were talking about,” he said.

    Perhaps his most famous moment at the organization came at its 2000 convention where, paraphrasing an N.R.A. bumper sticker (”I’ll give you my gun when you take it from my cold, dead hands”), he waved a replica of a colonial flintlock above his head and shouted, “From my cold, dead hands!”

    Michael Moore visited Heston to talk to him for the 2002 anti-gun documentary, Bowling for Columbine, But Heston appeared angry and flustered by Moore’s questions and walked out on the interview. Moore, who was criticized by some for “ambushing” Heston, posted a picture of the actor on his web site after he died.

    In 2002, Heston was diagnosed with Alzheimer’s disease. “If you see a little less spring in my step, if your name fails to leap to my lips, you’ll know why,” he said in announcing his condition. “And if I tell you a funny story for the second time, please laugh anyway.” He withdrew from public life, resigning from the NRA in 2003, although he accepted a Medal of Freedom later that year from President George W. Bush.

    “The largeness of character that comes across the screen has also been seen throughout his life,” Bush said.

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  • Mark Penn leaves Clinton campaign post

    Mark J. Penn, one of Sen. Hillary Rodham Clinton’s key and most controversial advisers, is no longer her chief political strategist.

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    In the end, it was Penn’s day job that did him in.

    Penn is the chief executive of Burson-Marsteller, a Washington public relations firm that had been hired to help the country of Colombia gain a bilateral trade agreement with the United States.

    Any suggestion that Clinton supports the trade agreement could hurt her in Pennsylvania’s April 22 primary. Voters there connect foreign trade with the loss of jobs in their state and in the country.

    Penn had said that other members of the firm were doing the work with Colombia. But according to The New York Times, Clinton was angered when she learned that Penn had met with officials from Colombia last week and she insisted on his demotion.

    “After the events of the last few days, Mark Penn has asked to give up his role as chief strategist of the Clinton campaign,” Maggie Williams, the campaign manager, said in a statement Sunday evening.

    Penn’s company also has ties with Blackwater Worldwide, the military contractor and Countrywide Financial, one of the leading issuer of subprime mortgages. According to the Times, Penn had also refused to stop dealing with those companies while helping Clinton.

    Penn did call his meeting with the Colombia officials an “error in judgment.” After that statement, the government of Colombia severed its ties with Burson-Marsteller.

    Clinton has been under pressure to do something about Penn for months. He is known to have an abrasive style that has irritated other staffers. And, especially when Clinton was losing in primaries, he was criticized for giving her bad advice.

    “No matter how much bad stuff happened, (Clinton) kept to her Bush playbook, stubbornly clinging to her own Rumsfeld, her chief strategist, Mark Penn,” Frank Rich wrote in the Times earlier in the year.

    Drawn to Bill Clinton’s team by Dick Morris, Penn helped fashion President Clinton’s 1996 re-election. Penn was also a leader in Hillary Clinton’s successful senatorial campaign in 2000.

    And he guided Britain’s Tony Blair to his a third re-election as prime minister, just as he put Israel’s Menachem Begin in the win column.

    Penn is the co-author of Microtrends: The Forces Behind Tomorrow’s Big Changes.

    In Microtrends, Penn and co-author E. Kinney Zalesne divide the American public into emerging demographic categories. (Stay-at-home workers, etc.)

    “There is no One America any more, or Two or Three or Eight,” Penn writes. “In fact, there are hundreds of Americas, hundreds of new niches made up of people drawn together by common interests.”

    Penn is the nominal boss of Charles R. Black Jr., a key McCain adviser and spokesman.

    Black is the chairman of BKSH & Associates, a lobbying firm that is a subsidiary of Burson-Marsteller.

    The Times reports that Penn’s polling firm, Penn, Schoen and Berland Associates, will continue to poll for Clinton.

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