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How Wall Street won the US Election - 2010

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How Wall Street won the US Election - 2010

Postby Charles » Wed Jan 05, 2011 11:07 am

How Wall St. execs bankrolled GOP victory

Hedge fund moguls donated $10 million, gained key House allies to head off financial reforms

By Peter Stone, Center for Public Integrity, and Michael Isikoff, NBC News

A small network of hedge fund executives pumped at least $10 million into Republican campaign committees and allied groups before November’s elections, helping bankroll GOP victories that this week will change the balance of power in Washington, according to a review of campaign records and interviews with industry insiders by the Center for Public Integrity and NBC News.

Bitterly opposed to President Barack Obama’s economic and regulatory policies — including proposals to increase taxes on some of their profits — top Wall Street hedge fund moguls were unusually energized during last year’s election. They held multiple fundraisers and coordinated strategy to direct what appear to be unprecedented sums into the coffers of GOP and allied political committees, according to industry and GOP fundraising sources.

Read about it here.
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