Money Managers And Their Donation Dollars
Alts. Honcho Hosted Controversial Romney Chat

Sep 18 2012 | 12:20pm ET

The controversial video of Republican presidential candidate Mitt Romney threatening to roil the race for the White House was taken at the home of a prominent hedge fund and private equity manager.

Romney's impolitic comments about 47% of the American electorate were made during a May 17 fundraiser at the Boca Raton, Fla., home of Marc Leder, co-founder of Sun Capital Partners. Leder and Sun Capital's other co-founder, Rodger Krouse, have been generous donors to the G.O.P.

The video, posted yesterday by the liberal magazine Mother Jones, shows Romney addressing the $50,000-per-person fundraiser with the warning, "There are 47% of the people who will vote for the president no matter what."

"All right, there are 47% who are with him, who are dependent upon government, who believe that they are victims, who believe the government has a responsibility to care for them, who believe that they are entitled to health care, to food, to housing, to you-name-it. That that's an entitlement. And the government should give it to them. And they will vote for this president no matter what."

"These are people who pay no income tax," Romney continues. "My job is not to worry about those people. I'll never convince them they should take personal responsibility and care for their lives."

Romney also made some harsh comments about the Palestinians, telling the donors that they "have no interest" in peace with Israel and that Israel giving up territory to a Palestinian state—a centerpiece of just about every peace plan that has been mooted—"is the worst idea in the world."

Romney is also heard joking that he'd have a better chance of winning the presidency if he were a member of a minority group, like the president.

"My dad, as you probably know, was the governor of Michigan and was the head of a car company," Romney says. "But he was born in Mexico, and, uh, had he been born of, uh, Mexican parents, I'd have a better shot at winning this."

Last night, Romney defended the content of his statements, although he acknowledged that they were "not elegantly stated."

As for the man whose home hosted the controversial comments, Romney is more than just Leder's favored candidate for the White House—he's something of a mentor; Leder was inspired to go into private equity after a visit to Bain Capital, the p.e. firm founded by Romney. And, of course, Mother Jones cited reports from the New York Post last year that Leder hosted a "sex party" at his rented Bridgehampton, N.Y., estate.

"Guests cavorted nude in the pool and performed sex acts, scantily dressed Russians danced on platforms and men twirled lit torches to a booming techno beat," the tabloid wrote.


In Depth

Q&A: Neil Azous Talks Global Macro Investing

Nov 24 2014 | 12:41pm ET

Neil Azous is the founder and managing member of Rareview Macro, an advisory firm...

Lifestyle

Scene Last Night: Clinton, Schwarzman, Corzine, Neidich, Diamond

Nov 25 2014 | 5:52pm ET

Steve Schwarzman had a granddaughter yesterday morning. Last night he sat one table...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.