Huge Obama contributor benefitted from taxpayer-funded bailouts. #tcot #gop #POTUS #news #foxnews
By – Andrew Stiles
An ultra-wealthy hedge-fund manager who is supporting President Obama’s effort to raise taxes on 4,000 millionaires is heavily invested in companies that benefitted from taxpayer-funded bailouts.
Whitney Tilson’s T2 Partners hedge fund, which oversees more than $262 million, holds sizeable positions in the big banks that were bailed out with taxpayer funds in 2008 under the Troubled Asset Relief Program (TARP).
According to the most recent filing with the Securities and Exchange Commission, Tilson’s fund owns a combined $42.8 million worth of stock in Bank of America, Citigroup, Goldman Sachs, JP Morgan Chase, and Wells Fargo, all of which received tens of billions in taxpayer dollars through TARP.
Tilson is a member of “Patriotic Millionaires,” a group of wealthy people that appeared in a recent photo-op with the president as part of his effort to promote the so-called “Buffett Rule.”
Follow us on twitter @goppsycho