Hedge FundClass of 2014
New York State Senate
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TERRENCE MURPHY$2,146,147.08
SUESERINO
$847,567.59
TOMCROCI$658,131.42
JACKMARTINS
$379,769.07
Murphy, a newly elected Republican Senator from Yorktown, was
the hedge fund industrys chosen candidate during the last cycle.
The hedge fund PAC, New Yorkers for a Balanced Albany, spent a
staggering $2,146,147.08 on the race, much of it on attacks on
Murphys opponent, Justin Wagner. Vulture investor Paul
Singer, a New Yorkers for a Balanced Albany donor, chipped in
$16,800 directly to Murphys campaign.
Throughout his campaign, Murphy repeatedly engaged in
anti-immigrant attacks and scaremongering about progressive tax
policies that would take money away from his hedge fund
backers.
Sue Serinos bid to unseat freshman Democratic Senator Terry
Gipson benefited from hedge fund managers largesse to the tune of
$847,567.59. New Yorkers for a Balanced Albany spent $837,267.59 on
her race, mostly on ads attacking her opponent, Terry Gipson.
Singer further boosted the campaign with a $10,300 donation.
Throughout the race, Serino presented herself as an all-in,
pro-hydraulic fracturing, anti-public financing, anti-SAFE Act
Republican. One gambling-themed ad produced by New Yorkers for a
Balanced Albany accused Gipson of backing New York City style
campaign finance, ostensibly meaning public financing of elections,
which would greatly diminish the influence of certain hedge
fund-backed PACs.
The hedge fund industry spent $658,131.42 electing Tom Croci to
the New York State Senate in 2014. New Yorkers for a Balanced
Albany spent $647,706.42 in support of Croci. The former Islip town
supervisor also received a direct contribution of $10,300 from New
Yorkers for a Balanced Albany backer Paul Singer.
New Yorkers for a Balanced Albany spent $369,469.07 to help New
York State Senate incumbent Jack Martins beat back challenger Adam
Haber to secure a third term. Paul Singer also supported Martins
re-election with a $10,300 donation. Apparently, Martins support
for billionaire-friendly tax policies were enough to secure Singers
support, despite his opposition to marriage equality, a cause that
Singer supported in 2011.