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Steve Schwarzman gave the maximum allowed by law, $2,800. John Paulson, too. And Tom Peterffy, David Blitzer, Dick Grasso, Joe Ricketts and Paul Tudor Jones, as well. Jack Welch, too, a week before he died, and Cliff Asness, his wife and his brother. Actually, Brad Asness was so confident that he donated the max not only to the primary campaign but the general election campaign, too, as did David Solomon, Nelson Peltz and Ken Langone (who like Asness dragged his wife in, too). J. Christopher Flowers may somehow have done them all one better, possibly putting up $11,200 (or possibly there’s a bug in the FEC’s reporting). The U.S. Chamber of Commerce pitched in $5,000; Hank Greenberg’s company $10,000 (Jeff Ubben, notably, did not). Stan Druckenmiller also gave a combined $5,600—on top of a $25,000 donation to a super PAC backing the candidate. A Democratic candidate.

Steve Schwarzman never gives to Democratic candidates. Literally never, according to Druckenmiller hasn’t given much to that side recently, either, and when he did, it tended to go to the likes of Tulsi Gabbard.

So what’s so special about this Democratic candidate? This Michelle Caruso-Cabrera from New York’s 14th congressional district, covering some seriously unglamorous stretches of Queens and the Bronx?

Oh, right: There’s nothing special about Michelle Caruso-Cabrera other than the fact that she isn’t the current representative for the 14th: Alexandria Ocasio-Cortez.

Well, that’s not entirely fair, at least as far as the aforementioned donors and the others who gave this first-time candidate a $2 million (and counting!) war chest that would be the envy of most first-time candidates, to say nothing of, like, 350 sitting members of Congress. After all, she used to be on CNBC, and is married to one of them, which is to say an investment banker who’s also a big-time Republican donor. Oh, yea, and she’s not really a Democrat: She was a registered Republican until 2015, five years after writing a book (with foreword by Larry Kudlow!) with the tremendously original title of You Know I’m Right, pushing such traditional Democratic positions as an end to Medicare and Social Security.

Not that any of that was mentioned in the fliers overstuffing my mailbox or the television ads blanketing the tristate area over the last couple of weeks, all paid for by Druckenmiller & co. They instead focused on the allegation that Ocasio-Cortez, who after all was elected to a job in Washington, was an absentee congresswoman who didn’t really grow up in the Bronx but in leafy Westchester and who in D.C. lives in a “luxury apartment with a Whole Foods in the lobby,” accusations with a spectacular degree of chutzpah from a candidate born in Ohio and raised in New Hampshire who moved to one of the leafiest, whitest and most affluent corners of an overwhelmingly working-class and immigrant district all the way back in, uh, December, seemingly for the expressed purpose of running for the seat, having spent most of Ocasio-Cortez’s first year in Congress, and the 19 before that, living in Manhattan (at the Trump International Hotel and Tower, no less). Still, they got all the people usually interested in New York City Democratic congressional primaries very excited indeed.

Alas, for Caruso-Cabrera and her donors, if only she had as much success as she has disingenuousness.


That’s about $4.13 of Stan Druckenmiller’s money alone per vote, although surely that ratio should fall below $4 once the absentee ballots are counted next week. Probably. Anyway, he’s getting used to bad investments and humbling experiences, such as having to see these tweets.

Of course, if Druckenmiller, Asness & co. would like some additional humbling, there’s good news: Caruso-Cabrera has secured the ballot line of something called the Serve America Movement party, which has all of 349 registered members in New York, for November, so there’s an opportunity to throw some more good money after bad.

Alexandria Ocasio-Cortez triumphs over Wall Street-backed Democratic primary opponent Michelle Caruso-Cabrera and all but secures a 2nd term [BI]


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