The Money Culture, Cont'd. You've been reading about the tightening bonds between hedge funds and Democratic politics on this blog for months. Now the New York Times has taken notice. Yesterday Landon Thomas, Jr. weighed in with "Hedge Fund Chiefs, With Cash, Join Political Fray."

Some of the most aggressive donors have been Democratic supporters like George Soros, David E. Shaw of D. E. Shaw and James H. Simons at Renaissance Technologies, as well as younger executives like Thomas F. Steyer at Farallon and Marc Lasry at Avenue Capital, all of whom gave generously during the 2006 election cycle.

You will recognize D.E. Shaw as Larry Summers' boss.....

With the rapid growth of their money and stature, an increasing number of the hedge fund wealthy are not just putting their money to work, they are forging personal and professional ties with a generation of politicians who have come to spend as much time raising money as they do drafting legislation.

The article does not make the obvious point that these hedge funds are not only contributing to Democrats, they are hiring them.

These are all perfectly legal activities, of course, and far be it from me to discourage anyone from participating in the democratic institutions of fundraising and campaigning. I'm sure there are plenty of ways in which these folks are genuinely altruistic and concerned citizens.

That said, their contributions are also intended to advance their financial interests, and this is another way in which our political parties are being bought and paid for by society's wealthiest....  ¶ 8:33 AM