08/28/10 When Greenwich Resident Steven Cohen Says Frog Dan Debicella Had Better Jump. If Cohen Says Jump Debicella Had Better Ask,"How High?"

You Wont Read This In The Greenwich Time.....

Billionaires Say Forget About Financial Reform...

How much do you want to bet that Dan Debicella

is not going to be a big fan of financial reform?

Yesterday cash strapped congressional candidate wana-be Dan Debicella started begging for $35.000 to be donated in five days, so that the national republican party would give him money in his effort to replace Congressman Jim Himes.

But Who Is Going To Be The Source Of That Republican Funding That Shelton Resident Dan Debicella Is Despairingly Seeking?

It looks that some of that funding may have been arranged in Greenwich last Tuesday night.

Billionaire Steve Cohen just hosted a "Fancy Nancy" dinner party at his over-sized mansion in Greenwich to ensure his that his brand new favorite political party - The Republicans - win this November.

SAC Capital's Billionaire Hedge Fund Manager Steve Cohen recently made a big shift in donor allegiance from Democrat to Republican.

At a meeting at his house on Tuesday night, Cohen and other large Hedge Fund donors told Republican political party operatives that they did night like financial reform.

Cohen's SAC has switched sides over the financial reform issue in 2010 he gave 93% ($193,000 of $207,000)of his political donations to his new "no financial industry regulation" buddies in the republican party.

Previously, Mr. Cohen was part of the Dodd Squad.and gave 71% to the Democrats in 2008. Most of it went to Senator Chris Dood who was running for President and still is a ranking member of the Senate Banking Committee.

Ultra Secretive New York City Billionaire Bruce Kovner of Caxton Associates, Paul Singer of Elliott Management and Fox News Contributor Daniel Senor of Rosemont Capital all said that they will throw there money behind Republican or any other candidates who will stop regulation of the derivative and hedge fund industry.

MORE INFORMATION ON THIN SKEINED PAUL SINGER:

Hedge Funder's Desperate Attempt To Get A Magazine To Reveal Its Source Is Futile

Hedge Witch Hunt - Fund Presses to Get Magazine to Reveal Source

MORE INFORMATION ON FINANCIAL REFORM:

The Pew Economic Policy Group | Financial Reform Project

Pew's Financial Reform Project, which was formed in response to the ongoing financial crisis, brings a nonpartisan, fact-based approach to reforming and ...

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07/31/10 Did You Ever Wonder How Greenwich Billionaires Could Sit Back And Turn A Blind Eye To Blind Eye To The Poor School Children At Ham Ave School

New Study Finds The Rich Horribly Stingy When It Comes To Charity

Studies come and go, but a new psychological study from the University of California Berkeley has found that 'class' (wealth, one's perception of social standing) and charity are inversely related.

You'd think that the 'higher class' would be less interested in collecting a small bit of money from a university experiment, but researchers found otherwise:

The Economist Reports:

To start with, these volunteers were asked to engage in a series of bogus activities, in order to create a misleading impression of the purpose of the research. Eventually, each was told he had been paired with an anonymous partner seated in a different room. Participants were given ten credits and advised that their task was to decide how many of these credits they wanted to keep for themselves and how many (if any) they wished to transfer to their partner. They were also told that the credits they had at the end of the game would be worth real money and that their partners would have no ability to interfere with the outcome.

A week before the game was run, participants were asked their ethnic backgrounds, sex, age, frequency of attendance at religious services and socioeconomic status. During this part of the study, they were presented with a drawing of a ladder with ten rungs on it. Each rung represented people of different levels of education, income and occupational status. They were asked to place an “X” on the rung they felt corresponded to where they stood relative to others in their own community.

The average number of credits people gave away was 4.1. However, an analysis of the results showed that generosity increased as participants’ assessment of their own social status fell. Those who rated themselves at the bottom of the ladder gave away 44% more of their credits than those who put their crosses at the top, even when the effects of age, sex, ethnicity and religiousness had been accounted for.

Read more here >

Just How many checks have you seen Paul Tudor Jones, Eddie Lampert or Steve Cohen to Greenwich social service organizations lately.

Related articles:

• Wealth, poverty and compassion: The rich are different from you and me (economist.com)
• School-time blues (bbc.co.uk)
• State's top candidates bring wealth to resumes (sfgate.com)
• New Study Finds The Rich Horribly Stingy When It Comes To Charity (businessinsider.com)

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