Hedge Funds 'Elect' Democrats in '08 Race
Hedge funds - the large, private pools of investment capital - and private equity firms, are giving campaign funds to Democrats at a faster pace than Republicans in this year's presidential race.
The groups gave more money to Democrats in the 2004 presidential election than to Republicans. The congressional battle in 2006 saw a similar outcome. For 2008, the trend is continuing, according to the Center for Responsive politics. The group calls itself a non-partisan campaign finance research organization.
Hedge fund and private equity donations totaled $6.4 million in 2007 for presidential candidates. The distribution was 59.7 percent for Democrats and 40.3 percent for Republicans.
While the individual limits for donors is $2,300, individuals at a company can combine to generate a greater sum. The totals were calculated from Federal Election Commission data released February 1.
Among the major candidates still running, Democratic New York Sen. Hillary Clinton received $1,266,342. Illinois Sen. Barack Obama took in $1,040,185.
For Republicans, Arizona Sen. John McCain received $394,850. Former Arkansas Gov. Mike Huckabee received $5,150.
Notable gainers no longer in the race include former Republican New York City Mayor Rudy Giuliani, who received $1,241,600.Democratic Sen. Christopher Dodd of Connecticut received $999,450. Former Massachusetts Governor Mitt Romney received $837,125.
Here is a list of candidates and their donations for the 2008 presidential race.
Hillary Clinton (D) $1,266,342
Rudolph W. Giuliani (R) $1,241,600
Barack Obama (D) $1,040,185
Christopher J. Dodd (D) $999,450
Mitt Romney (R) $837,125
John McCain (R) $394,850
John Edwards (D) $255,420
Bill Richardson (D) $184,300
Joseph R. Biden Jr. (D) $70,900
Fred Thompson (R) $48,500
Sam Brownback (R) $22,150
Ron Paul (R) $17,225
Thomas J. Vilsack (D) $7,100
Tommy Thompson (R) $6,900
Mike Huckabee (R) $5,150
Tom Tancredo (R) $2,300
Duncan Hunter (R) $1,000
Dennis J. Kucinich (D) $200
According to the CRP, totals were calculated from PAC contributions and contributions from individuals giving more than $200, as reported to the Federal Election Commission.
Individual contributions are generally categorized based on the donor's occupation or employer, although individuals may be classified instead as ideological donors if they've given more than $200 to an ideological PAC. The figures are for the 2008 election cycle and based on Federal Election Commission data released on Friday, February 01, 2008.
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