Yesterday morning, Newark mayor Cory Booker made headlines when he defended private equity firms and Bain Capital’s behavior against criticisms by the Obama campaign....
Wall Street has been a huge backer of Booker’s campaigns. For example, in 2006, “Lee Ainslie, the founder of hedge fund Maverick Capital Management LLC and a former protégé of Tiger Management LLC’s Robertson; and D. Ian McKinnon, the managing partner of Ziff Brothers Investments,” maxed out in their donations to Booker’s campaign. Even putting aside direct donations to Booker’s campaign, Wall Street has also curried favor with the Newark Mayor through other routes. For example, Bloomberg chronicled in 2010 how Booker worked to raise as much as $240 million from Wall Street and other American financial services hubs to invest in urban renewal in the city of Newark. By promising dollars for projects Booker backed, Wall Street has has possibly been able to exert a level of influence on him.
Another prominent Booker backer is Julian Robertson, a retired hedge fund manager. Robertson also happens to be one of Romney’s strongest backers, giving at least $1 million to the pro-Romney Super PAC Restore Our Future. Robertson’s $1.8 million in contributions to Restore Our Future make him the second biggest contributor, next to Bob Perry.
Lee Ainslie, the other hedge fund manager that helped spark Booker’s career, has given $100,000 to Romney’s Super PAC.Read it at Republic Report
Cory Booker’s Political Career Guided By Top Wall St Donors To Romney’s Super PAC
By Zaid Jilani