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Schumer too Cozy With Hedge Funds and who made him King anyway

May 30, 2010

Washington Columnist Claims Schumer too Cozy With Hedge Funds

Wednesday, 26 May 2010 02:01 PM

By: Dan Weil

Democratic Sen. Chuck Schumer is too cozy with hedge funds because a former staffer has several fund firms as clients, writes Washington Examiner columnist Timothy Carney.

In 2007, Schumer’s banking committee staffer, Carmencita Whonder, left to work for the lobbying firm Brownstein, Hyatt, Farber, Schreck. The New York Democrat is chairman of the House Banking Committee.

At the firm, Whonder lobbied for hedge funds.

“Within days of Whonder’s hire, she registered three private equity firms as clients. By the time Obama came to office, her clients included the Private Equity Council and seven private equity or hedge fund firms,” Carney writes.

In March 2009, when Congress started looking at financial regulation reform, Whonder joined the Managed Funds Association, hedge funds’ main lobbying group.

She also raised $18,200 for her old boss, according to Federal Election Commission documents, Carney writes.

Other hedge fund lobbyists are official bundlers for the Democratic Senatorial Campaign Committee, which Schumer formerly headed.

“Of course, the hedge funds get a good return on the money they’ve spent electing Democrats and hiring Schumer’s staff: beneficial legislation, which includes stricter regulation,” Carney writes.

The Managed Funds Association approves of requiring hedge funds to register with the Securities and Exchange Commission. That’s because it favors big funds over smaller ones, Carney writes.

“For now, all we can do is follow the money — and it all leads back to Schumer.”

The financial crisis hasn’t stopped a raft of members of Congress from continuing to seek campaign contributions from banks.

The financial industry is hosting fundraisers for legislators at the rate of almost once a business day this month, Bloomberg reports.

At least 20 senators and representatives are involved, according to Democratic and Republican Party committee schedules sent to prospective donors.

© Newsmax

January 14, 2010
Who Made Chuck Schumer King?

By Roger Stone

Not only do we learn this week that New York Senator Chuck Schumer was “back-dooring” his colleague Hillary Clinton in her Presidential run, but now he’s pressuring Congressman Harold Ford Jr., and anyone else for that matter, out of challenging the his protégé Kirsten Gillibrand in the New York Senate Democratic Primary.

While Harold Ford may not be my ideological cup of tea, I know an experienced and sure footed candidate and a prodigious fundraiser when I see one. Why shouldn’t New York Democratic Primary voters choose their own candidate? Schumer already muscled out Rep. Steve Israel and Rep. Carolyn Maloney with a heavy handed assistance from the Casa Blanca.

Why shouldn’t voters decide if Ford is too conservative on social issues or hasn’t lived in New York long enough?

Schumer, who took great offense to being called a putzhead (hey, if the shoe fits….), didn’t mind calling a poor working flight attendant a “bitch” when she required him to turn off his cell phone like everyone else. Like his Democratic colleague Eliot Spitzer, he thinks he is so important the rules don’t apply to him.

No one is more responsible for America’s political meltdown that Chuck Schumer who took millions from banks, insurance companies and Wall Street to vote to strip away oversight and regulation of those industries.

Now Schumer’s tactics remind of the old bosses of Tammany. They stink.

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