Romney Has Major Stake in Sinking Fund

Candidates in both parties could see big donations dry up
By Evelyn Renold
Posted Aug 16, 2007 7:23 PM CDT
Romney Has Major Stake in Sinking Fund
Republican presidential hopeful Mitt Romney, speaks to a group of supporters during a town hall meeting in Winter Park, Fla., Wednesday, Aug. 15, 2007.(AP Photo/John Raoux)   (Associated Press)

Former Massachusetts  Governor Mitt Romney has a substantial investment in a teetering Goldman Sachs hedge fund that was propped up with a $3 billion cash infusion after it lost a third of its value. Romney, who won a symbolic victory in Iowa's GOP straw poll last weekend, is thought to have least $1M in the Global Equity Opportunities Fund, reports thestreet.com.

Given Romney's immense wealth (estimated at 250M), the fund meltdown may not be so painful for him. But the real-estate and credit collapse could mean trouble for other presidential candidates, both Democrats and Republicans, who rely on Wall Street banks, hedge-fund companies and the real-estate industry for major campaign contributions.

Read These Next
Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X