GO
Loading...

Grassley Took SAC Capital Political Cash

Tuesday, 7 Jun 2011 | 2:08 PM ET
Stack of U.S. hundred-dollar bills
Stack of U.S. hundred-dollar bills

Senator Charles Grassley received the maximum legal political contributions from Steven and Alexandra Cohen for the 2010 election cycle.

Steven Cohen is the founder of SAC Capital,the hedge fund whose dealings with the SEC are subject to an inquiry by Grassley, a Republican from Iowa. Alexandra is Steven's wife.

Each of the Cohen's contributed $2,300 to Grassley's primary and general election, according to filings with the Federal Election Commission. The contributions were made in June of 2008, more than two years before Grassley was up for reelection in 2010.

Other SAC employees also donated to Grassley's campaign around the same time. Nick Tiller, a portfolio manager, donated the maximum $2,300 to both the primary and general election campaigns in May of 2008. Peter Naussbaum, SAC's general counsel, gave $2,300 that May. Once donors have hit the legal limit, they are barred from making further donations for that election cycle.

The hedge fund's employees donated a total of $16,100 to Grassley in 2008, according to records kept by the website OpenSecrets.org. The biggest recipient of SAC political contributions was Chris Dodd, the Connecticut Democrat who chairs the powerful Senate banking committee.

In 2006, Grassley made inquiries into the SEC's handling of allegations of insider trading at Pequot Capital.

____________________________________________

Questions? Comments? Email us atNetNet@cnbc.com

Follow John on Twitter @ twitter.com/Carney

Follow NetNet on Twitter @ twitter.com/CNBCnetnet

Facebook us @ www.facebook.com/NetNetCNBC

____________________________________________

Questions? Comments? Email us atNetNet@cnbc.com

Follow John on Twitter @ twitter.com/Carney

Follow NetNet on Twitter @ twitter.com/CNBCnetnet

Facebook us @ www.facebook.com/NetNetCNBC

Featured

NetNet TV

Wall Street