Largest Hedge Fund Political Donations Go to Democrats

*Phil Falcone, of Harbinger Capital, seems to be hedging his bets, donating $30,400 to the Democratic Senatorial Campaign Committee and $10,000 to the Republican Party of Minnesota, Falcone's home state.

One other notable hedge fund manager, John Paulson, who is at the center of charges against banking giant Goldman Sachs, gave money to both political parties. Goldman secretly arranged for Paulson to hand pick securities for a mortgage portfolio with an eye toward loading it with the loans most likely to flop, federal regulators charged last week. Paulson reaped $1 billion in profit while some of Goldman's clients, were left holding the bag. The CRP estimates that Paulson made $213,000 in political donations over the past decade, 60 percent of which went to Republicans.

During this past election cycle, a little more than 12 months, hedge fund managers contributed $1.9 million to Democrats and $1.2 million to Republicans.

Where's Our Cash?

Earlier this month reports surfaced that Republican leaders, including Senate Minority Leader Mitch McConnell, gathered for breakfast in a Manhattan hotel with some folks who wouldn't win a popularity contest these days.

Sen. McConnell's hosts that morning: a contingent from Wall Street, including several prominent hedge fund managers. The senior GOP senator's not-so-subtle message to the room: If you want us to fight financial reform we need your financial support.

A spokeswoman for Sen. McConnell declined to comment on the meeting with Wall Street representatives, but did point out that earlier today McConnell indicated that serious bipartisan discussions on financial reform had resumed.

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