Buffett main course on Clinton’s menu

By James Politi and Francesco Guerrera in New York

Published: June 25 2007 22:04 |

A powerful collection of Wall Street bankers, private equity executives and hedge fund managers has organised a lucrative fundraising event for Hillary Clinton on Tuesday night, with Warren Buffett as the featured entertainment.

The event comes at a delicate moment in the relationship between Wall Street and Washington, with Congress mulling changes to the tax code that would significantly hit private equity and hedge fund managers.

It also illustrates the complex ties that exist between leading financiers and the presidential candidates. Even though Mr Buffett will be the main attraction on Tuesday night, he has not endorsed Ms Clinton, saying both she and Barack Obama, the Democratic senator from Illinois, would make excellent presidents.

John Mack, chairman and chief executive of Morgan Stanley and a longtime supporter of Republican candidates, is one of the organisers of Tuesday’s dinner, but was not expected to attend.

The event will take place in two parts. First, there will be an “intimate” dinner with Ms Clinton and Mr Buffett for about 50 guests paying $4,600 (€3,425, £2,300) each – the maximum allowed, people involved in the planning said. Later, more donors – a variety of smaller contributions – will flood into the Sheraton Hotel in Manhattan to hear speeches by the Democratic New York senator and the world’s second richest man. More...