That’s basically the contention of Washington Examiner columnist Timothy Carney, who pins his thesis on a former Schumer staffer who went on to lobby for the hedge fund and private equity industries.
Three years ago, Sen. Chuck Schumer, D-N.Y., leaned on hedge funds to lobby more. The funds soon hired his banking staffer as a lobbyist. She began raising money for Schumer. Now he’s championing financial regulation that would benefit these hedge funds. “Racket” might be the right word here.
Carney says all the lobbying paid off because new financial regulations making their way through Congress just serve to fill the coffers of larger hedge funds at the expense of big banks and smaller funds. He argues new laws forcing all hedge funds to register with the SEC will only hobble the smaller firms who can’t afford to comply. Competition will be further eroded, Carney says, if banks are banned from operating their own hedge funds. (He neglected to mention that lobbying didn’t really do too much for private equity firms who are steaming over proposed tax hikes on carried interest.)
But how did Schumer benefit from his January 2007 meeting with the hedgies? How does Schumer always benefit? Fundraising. Democrats in 2008 brought in $11.7 million from hedge funds, nearly twice the GOP haul.
Schumer’s Racket: Lobbyists and Hedge Funds [Washington Examiner]
A Hill staffer left his job to become a lobbyist. How is this news?
I’m too tired to chirp any more – can we just cue the recording this time?
-Overworked and underappreciated chirping cricket
tits or gtfo, kouwe. your learning period is becoming rather tiresome for us.
Jim Blarney?
Wow, Chuck the Shmuck stepping over an ethical line to shake down a willing industry?
I’m shocked, SHOCKED to find gambling in this establishment…
Kouwe, I’m gunna Kouwe in your back pocket.
Tim Tebow
@3 Kouwe is doing just fine, give this bird more time in the nest
Schumer is a just a politician, ties to lobbyists is what it takes to get the “milk”
I wonder if Barney Frank fantasizes about Chuck like he does for Obama…..
This guy thinks bankers are a bunch of cunts:
http://nymag.com/news/politics/66188/
Where is that dickhead who keeps railing at Wall Street for funding Obama?
@10 that story was posted and discussed on monday, thanks for playing.
@11 don’t be mean, ok. Be nice. Please be nice sir, please.
Figures, Monday is my meth binge. What did I miss yesterday?
I heard HandBridge has Schumer in their front pocket.
the hedgies are so far in his pockets they rub his gonads when he walks
Is that Schumer in your pocket or are you just happy to see me?
@10 Here is another story for you then:
http://www.washingtonpost.com/wp-dyn/content/article/2010/05/21/AR2010052101854.html
This hot weather makes my balls sag.
Carmencita’s job is to hold the funnel in Chuck’s pocket
here is a pic of Chuck’s money honey
http://www.milkeninstitute.org/events/speakers/W3796.jpg
Beamers Day in the USA???????????????????????????????????????????????????????????????????????????????????????????
Politicians are all part of a racket. What’s your point Zach? tell me something i don’t already .
Even before I noticed the author I knew this crap was the prebubescent child of Kouwe in chuck’s pants
“And let me say this, to awwwl of the chattering class…. The American people really don’t care.”
- Putz Schumer, chatterer with annoying accent
http://www.youtube.com/watch?v=JEfICUoWKBw
I’m scared and lonely and I need a hug.
-Intern
It’s time to get rid of this Senator from his senate seat and replace with a new guy regardless of his party affiliation.
We, at office, decided to vote anyone running against him.
He was quiet during GS bruhahaha.Maybe a recipient of GS money for politics.
O HAI,
WHUT IZ BIG DEEL? THIS IZ HAO OLIGARKEY WURKZ, RIGHT?
I RITEZ LITTEL BLOGZ ABOUT IT HERE: http://bit.ly/bjuTt0
K THX BAI,
MANNIE
Chuck you Son of a Bi…You’re my Chief Senate Bitch and I don’t like you moonlighting on my dime!!!!
— John Mack
MS @ 27 – WTF? Are you a joke I’m not getting?
@29 clearly you’re not doing enough drugs…
Kouwe, time to shit or get off the pot.