Chicago Billionaire Ken Griffin: Rich don't have enough influence

[wndycty]

Oh brother. . .

Ken Griffin talks politics with the Tribune


President and CEO of Citadel Investment Group Ken Griffin attends the 2009 Whitney Museum Gala at The Whitney Museum of American Art on October 19, 2009 in New York City. ((Dimitrios Kambouris/WireImage))

By Melissa Harris
Chicago Tribune reporter
6:38 a.m. CST, March 10, 2012

In an interview with the Chicago Tribune, billionaire hedge fund operator Kenneth Griffin, CEO of Chicago-based Citadel, says that he is opposed to building a downtown casino, is critical of corporate leaders who have "groveled" for tax breaks and says that he's "terrified" the country is headed in the wrong direction.

"I spend way too much of my time thinking about politics these days because government is way too involved in financial markets these days," he said in a rare interview. He later added. "Part of my sensitivity to these issues is that I now live in the middle of a hyper-regulated industry, where not only is government affecting how capital markets work, or how banks work, but (the government) is punishing savers."
-snip-


"I think (the ultra-wealthy) actually have an insufficient influence," Griffin said in an interview at Citadel's downtown office. "Those who have enjoyed the benefits of our system more than ever now owe a duty to protect the system that has created the greatest nation on this planet."

In the 2012 election cycle, Griffin has given $150,000 to Restore Our Future, the super PAC supporting Mitt Romney, and more than $560,000 to the Republican Governors Association. In recent years, Griffin and his wife Anne have given $800,000 to American Crossroads, founded by Republican strategists Ed Gillespie and Karl Rove.

The Griffins also have given approximately $1.5 million over time to David and Charles Koch's conservative causes, which operate under the umbrella Americans for Prosperity. Structured as a nonprofit, its donors are not disclosed, making it a lightning rod for advocates of campaign finance reform.
-snip-

http://www.chicagotribune.com/business/breaking/ct-biz-0310-ken-griffin-interview,0,4421212.story

[sarcasmo]

1. One more thief who wants less regulation so he can steal more money.

[mick063]

5. Top response

Why?

Simple, concise, and gets to the fundamental core.

If influence peddlers representing the rich are rats, then Capital Hill is a grain silo. Meanwhile, the money farmer is bitching about a rat population with little influence. More grain is needed.

[Strelnikov_]

2. This article underscores why the rich should not have any influence

This -

The 43-year-old hedge fund manager said he has invested more time than ever before on politics since the financial crisis of 2008 nearly crippled Citadel. The firm's two flagship funds have since recovered, surpassing their so-called highwater marks this year.

Then this -

"I spend way too much of my time thinking about politics these days because government is way too involved in financial markets these days," he said in a rare interview. He later added. "Part of my sensitivity to these issues is that I now live in the middle of a hyper-regulated industry, where not only is government affecting how capital markets work, or how banks work, but (the government) is punishing savers."


So, market deregulation nearly destroys his company in 08 . . .

company recovers fully in spite of the supposedly onerous regulation since 08 . . .

Yet, he wants a return to less regulation, the good old days prior to 08.


Another example that the rich are not smarter, they are simply better at the long con.

[The Magistrate]

9. Hear Hear, Comrade

[DJ13]

3. The uber wealthy are tone deaf

and arrogant.

[drm604]

4. Sounds like the launch of a new talking point.

"Those who have enjoyed the benefits of our system more than ever now owe a duty to protect the system that has created the greatest nation on this planet."

This is nothing but disingenuous spin for "wealthy people deserve more power than others".

It's an attempt to redefine "privilege" as "duty". "Oh dear, those poor wealthy, they have such a burden in having to run things!"

I would hope that most people are to smart to fall for this nonsense. It sounds like something Frank Luntz could have come up with.

[longship]

6. Douchebag!

That's the only name for him.

[Angry Dragon]

7. another con man exposed

[fascisthunter]

8. money went to his head....

what I see is the power that wealth has over weak minded individuals.

[Dawson Leery]

10. It is time for a 50% capital gains tax.

Market speculation must NOT be profitable.

[sarcasmo]

12. +1

[MrScorpio]

11. This is proof positive that being rich doesn't with being knowledgable

Obviously, he's not aware that the rich have gotten practically everything they've asked for over the past 30 years, short of overturning basic Common Law.

And it was those policies, brought on by Republican politicians, that almost destroyed America.

Why is anyone listening to this fool?