May 22, 2012
Art, politics, angels, demons . . . and righteous dogs.

Meet Paul Singer

This recent portrait of Paul Singer, financial wiz behind the Romney machine done for Fortune, lays bare one of the shadowy figures in the Romney campaign (and that’s saying something). Let’s seem them all in the clear antiseptic light of day.  May we come to our senses and take money out of politics.  Don’t laugh, it can be done! Below is an excerpt from the piece by Michelle Calarier. Thanks to Michael Solita and Emily Kehe, art Director and Designer.

 

“Singer is the founder of a $19 billion hedge fund called Elliott Management. And he has a well-earned reputation as one of the smartest and toughest money managers in the business. Over the past 35 years Singer, 67, has produced an extraordinary 14% average annual return after fees, nearly double the price appreciation of the S&P 500 (SPX). He’s achieved that record in large part by buying the debt of bankrupt companies and nations — a strategy that has earned him considerable opprobrium in some circles. His firm, which is engaged in a costly, protracted legal war with Argentina over its defaulted sovereign debt, is so influential that fear of its tactics helped shape the current Greek debt restructuring. Among the sophisticated investors who have placed their confidence in Singer is Mitt Romney himself. According to Romney’s financial disclosures, the trust managing his more than $200 million fortune has at least $1 million invested with Elliott.

In recent years Singer has emerged as a quiet force in the Republican Party. He’s one of a handful of moneymen who have given $1 million to the Romney super PAC ”Restore the Future,” which so far has raised $37 million and spent some $34 million. Singer has also donated more than $220,000 to 31 Republicans in national races across the country since Barack Obama became President. Over the past three years he has given nearly $2 million to Republicans in local races in states as far-flung as Florida, Michigan, California, and Texas. But his value goes far beyond his own deep pockets. Singer is known as a major Republican “bundler,” with a large network of rich donors ready to follow his lead. “All the candidates come to pick his brain,” says one party insider.”

 

Fired Up Romney

Romney’s recent statement that he would not set his hair on fire to be president is largely true.  Last night, however, we discovered that his head is made of particle board.

Anti-Romney Tactic of the Day

Rick Santorum, in sweeping three contests last night in Minnesota, Colorado and Missouri, has revealed a successful strategy to the Republican nomination: pray away the Romney.

Odd Couple of the Day

 

 ”On January 31, Newt Gingrich was  told that he was no longer wanted in the state of Florida.  Soon he  found himself looking for a home in the Super Tuesday states along with his similarly-hated friend Mitt Romney. Can two severely messed-up men share a dysfunctional political party without driving each other crazy?!!!!!”

Thanks to Ron Brownstein and Jan Zimmeck for making this happen. And to Ron for the shout-out on this morning’s interesting chatfest with the always interesting Soledad O’Brien. Back atcha.

http://www.cnn.com/video/#/video/bestoftv/2012/02/03/exp-point-romney-misspoke.cnn

Despicable Duck of the Day

 

In Newt’s overheated lingo people are not wrong or objectionable, but pathetic and despicable. Quite often they are “the most pathetic or despicable in the history of the planet”. The carpet-bombing of Newt in Florida by Romney’s super pac shows how the system works. And while Newt’s complaint is really about the post-Citizens United world, he will keep that shady and target Romney alone for criticism. In any case we can see where poor Daffy at last gets it right.