Some people can put the good of the country ahead of their personal finances and it looks like the people who work at hedge funds are like this. Let's recall that Obama will not keep the Bush tax cuts for the top 1% and that's the income bracket for most of these folks.
Hedge fund managers throw weight behind Obama
Fri Jul 11, 2008 1:03pm EDT
By Svea Herbst-Bayliss
BOSTON (Reuters) -...New figures show the Illinois senator and presumptive Democratic presidential nominee has drawn $822,375 in campaign contributions from employees of hedge funds, compared to $348,300 for his Republican rival, Arizona Sen. John McCain.
The figures, compiled for Reuters by the Center for Responsive Politics, a nonpartisan campaign finance research group, reflect mounting concern over the rising cost of health care and other domestic issues where several hedge fund managers said Obama had an edge over McCain.
"My goal is not to pay less taxes," said William Ackman, head of hedge fund Pershing Square Capital Management, who is known for pressuring management of companies to improve profits by cutting costs or selling divisions. "My goal is to elect an incredibly smart and capable guy."
...his [Obama's] plans for healthcare and education are resonating with many in the industry who say those issues are more crucial to the economy and their own pocketbooks than tax cuts and tighter regulation of their industry.
Friday, July 11, 2008
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