* There were lots of rumors earlier this year of bigtime bucks for legislative races coming from people like Ken and Ann Griffin this fall. Maybe not…
The Nov. 6 contests for the White House and Congress are only part of the picture for the new cadre of wealthy financiers who are looking to magnify their impact by focusing on state and local politics. They are not putting much money into state Republicans’ slim chances of reversing Democratic control of the Legislature this year, but insiders expect their influence to grow dramatically with statewide offices, including U.S. senator and governor on the ballot two years from now. […]
Also stepping into a new activist role are mega-donors Kenneth Griffin, who founded the hedge fund firm Citadel LLC, and Anne Dias Griffin, who founded her hedge fund firm, Aragon Global Management. The husband and wife have donated more than $6.1 million to candidates and causes at the state and federal level since 1998. […]
“All these people, they make decisions based on data, on ROI (return on investment), based on performance. That’s how they make money,” the consultant said. “You can’t just call up these folks and say ‘I’m a Republican. I need money.’ What is your plan? How do you get across the finish line. What’s your ROI? What’s your approach?”
And it appears that the investment community will pull back if results aren’t delivered.
“They’re no longer interested in jumping behind (someone) who has tried and failed,” the consultant said. “They want to do it themselves because the (politicians) at the head tables haven’t done it.”
The investment community provided substantial seed money, including $190,000 from the Griffins, to the Two Party System Inc. PAC that in 2010 spent more than $800,000 to back state House GOP candidates and campaigns. But promises of major pickups against Democrats never materialized. Through the first half of this election year, the PAC has made no contributions.
The Griffins have contributed just $30,000 since July.
…Adding… Illinois Review…
Newsweb media mogul Fred J. Eychaner ranks 13 on the nation’s list of top political donors.
In addition to his efforts for President Obama, Eychaner is one of the 2012’s highest national indiviual donors to liberal legislative candidates and political action committees in the 2012 cycle.
In this cycle alone, Eychaner has donated over $3 million to federal Democrat-affilliated Political Action Committees […]
Of the $377,000 he has given thus far to Illinois Democrat candidates and the Democratic Victory Fund and the Senate Democrats, nearly half - $190,000 - went to the abortion advocacy group Personal PAC