Wednesday, January 26, 2022

Former Hedge Fund CEO Topsy-Turvy Enters Senate GOP Primary Race Nation World News

Harrisburg, Pa. ( Associated Press) — After several months of positioning himself in the running, former hedge fund CEO David McCormick is entering Pennsylvania’s campaign for the U.S. Senate, with a stellar resume and high-end in government, finance and politics. level connection. – GOP primary field in one of the country’s premier competitions.

McCormick, 56, has the support of various state party veterans And veterans of former President Donald Trump’s administration advised his campaign in a Belvedere-state contest that is expected to help determine control of the US Senate.

He boasts a resume that checks practically every box a politician wants to brag about: He grew up on a farm, graduated from West Point, fought in the Gulf War, Princeton University Received his doctorate from, held senior positions under former President George. Bush’s administration and Wall Street reached the pinnacle of commercial success as CEO.

In a brief interview Wednesday afternoon, McCormick indicated he would target Biden’s economic and foreign policies as well as a left-wing “awake” culture. He was enthusiastic about America’s exit from Afghanistan, which he called a “genuine display of incompetence and a lack of accountability for the Biden administration.”

It was a symbol of “a march of awareness and weakness that is really threatening our country. And I think it’s eroding our values, draining our vitality,” McCormick said.

McCormick, who grew up in Pennsylvania, has just quit As CEO of Bridgewater Associates, one of the largest hedge funds in the world based in Westport, Connecticut. To run, he moved from Connecticut—where he’s lived since 2009—and bought a house in Pittsburgh’s East End.

The Republican primary field is in turmoil With the exit of Trump-backed candidate Sean Parnell, creating a void still being filled by new candidates. The seat has opened with the retirement of two-time Republican US Sen. Pat Tommy.

The primary is on 17 May.

Winning it is no slam dunk for McCormick.

He is one of three wealthy, connected candidates – including Mehmet Ozu., the heart surgeon who carries unmatched name recognition as the host of daytime TV’s “The Dr. Oz Show”—definitely moving on from blue states to run in purple Pennsylvania. he’s crying carpetbaggery from the GOP primary rivals.

McCormick’s supporters insisted on growing up in Pennsylvania, graduating from high school in Bloomsburg, where he still owns a family Christmas tree farm, and spending nearly a decade in business in Pittsburgh, where he ran the online auction house Freemarkets Inc.

Some Republicans know McCormick through his father, who was the first chancellor of the state university system under the then government. Dick Thornberg.

McCormick could run for the US Senate in solid blue Connecticut this year, but he dismissed any suggestion of “coming back” to Pennsylvania.

“Well, for me, I’m not coming back,” McCormick said. “Pennsylvania has been my home for more than half my life. My family is in Pennsylvania. Many of my friends are in Pennsylvania. I’m a seventh-generation Pennsylvanian, so I think Pennsylvania is my home. And Pennsylvania is that place.” Where I’ve had the most creative experiences of life.”

Rivals are also targeting McCormick over Bridgewater’s massive investment in China, suggesting he will be soft on a formidable US adversary.

Still, investing in fast-growing China is tantamount to large, diversified hedge funds, and Bridgewater is invested in so many different markets that its China assets are a fraction.

McCormick said the experience with China, both in government and finance, is an asset in tackling an existential challenge that threatens the economic and national security of the United States as well as global stability.

“Those experiences are exactly what you want in someone who was going to serve in the Senate and with a track record of national security expertise, economic expertise and tough-mindedness to be in a position to help them navigate this incredible challenge ,” McCormick said. ,

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Follow Mark Levy on Twitter https://twitter.com/timelywriter

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Nation World News Deskhttps://nationworldnews.com
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