An Interesting Coincidence?
A week ago, the Wall Street Journal ran a big story about major hedge fund managers jumping to the GOP from Barack Obama. One of the big jumpers is Steve Cohen.
Business Insider notes
Cohen … has “previously been a big Democratic supporter, regularly giving the maximum allowable to Democratic legislators in his home state of Connecticut,” and spent $500,000 on Democrats in 2008.
But last year Cohen decided to “direct contributions to GOP campaign coffers and to pro-Republican groups that could raise and spend unlimited amounts.” He gave Republican Governors Association alone $1.5 million.
And Cohen was doing more than just giving cash; he also gave time. Remember that GOP mid-term strategy meeting he hosted last year?
The Wall Street Journal is now reporting federal prosecutors have suddenly decided to examine “trades made in an account overseen by hedge-fund titan Steven Cohen that were suggested by two of his former fund managers who have pleaded guilty to insider trading.”
I’m sure it is just a coincidence in timing.