New York (HedgeCo.net) – Hedge funds have been the biggest doners to Mitt Romney’s Super PAC, “Restore Our Future.” Almost 60 corporations and wealthy individuals donated at least $100,000 each to the Romney PAC, which raised more than $20 million in the second half of 2011. He has been called “The Wall Street Candidate.”
The Sydney Morning Herald reports that casino mogul Sheldon Adelson and his wife, Miriam, are the biggest donors to to Newt Gingrich’s PAC ”Winning Our Future”. Gingrich’ promised the Adelsons that he would relocate the US embassy in Israel to Jerusalem, from Tel Aviv, a move long supported by Mr Adelson. They donated over $12 million.
There used to be strict rules capping donations to PACS at $2500. Corporate and union money was banned from PACs. A 2010 Supreme Court ruling removed the regulations.
Alex Akesson
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