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Long IslandPoliticsSpin Cycle

An accused investment giant, its hedge-fund partner, and NY's senators

Hedge-fund giant John Paulson raised funds for Senator Chuck Schumer -- "one of the few members of Congress that has consistently supported the hedge fund industry" -- according to Politico, citing a copy of the invite.

Ben Smith's posting is here.

In addition, Kirsten Gillibrand's apparent status as the single top Democratic recipient of contributions from Goldman Sachs employees -- and second overall -- comes under fire from her declared Democratic challenger Jonathan Tasini.* His statement:

"Today, with the Securities Exchange Commission’s decision to charge Goldman Sachs with securities fraud, I am calling on my opponent, Kirsten Gillibrand, to give back the $23,800 that she has received so far from Goldman Sachs contributors. According to, my opponent is the number one Senate candidate (Democratic)* recipient of Goldman Sachs cash in the country."

"As I said in January, when I first called on her to give back all the corrupting cash she is pocketing from Wall Street, banks and financial services, my opponent continues to pocket huge amounts of corporate-influenced cash, particularly from the elite bankers and financial manipulators who engineered the collapse of our economy, robbing Americans of their jobs, savings and retirement. By her actions, not words, my opponent stands side-by-side by the very corrupt interests who have hurt our country.

"It is not a surprise that my opponent has refused to support the modest bank tax proposed by President Obama. She is in the pocket of Wall Street—and her bank account shows it."

We asked Gillibrand spokeswoman Bethany Lesser for a response, and she sent along this statement:

“These allegation are very serious.  We should have zero tolerance for these kinds of alleged investment practices, which is why I am fighting for significant financial reforms that will put consumers’ interests first, restore accountability and protect against special interest abuses.”


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