As a hedge fund manager, Pennsylvania Republican U.S. Senate candidate Dave McCormick’s company held roughly $415 million in Russian sovereign bonds prior to Vladimir Putin’s invasion of Ukraine.
According to a Thursday report in the Guardian, McCormick — who is running against three-term incumbent Sen. Bob Casey (D-PA) — was found to have held the Russian debt through his firm, Bridgewater Associates, between 2017 and 2021. Sovereign debt is a major source of funding for countries to pay for operations and service debt, and has become increasingly subjected to sanctions since 2019.
McCormick has previously taken full ownership of Bridgewater’s decisions during his tenure as CEO — a position he held until 2022, when he unsuccessfully ran in Pennsylvania’s Republican Senate primary (he went on to lose to Mehmet Oz). In a 2023 speech to the American Enterprise Institute, McCormick told the audience: “Whatever we did I’m responsible for.”
They’ll say anything. Oh look, he’s in my state. I just saw a flier in my mailroom that spoke of a Democratic congress person in my area who supported a company over a woman who had been raped, therefore this congress person can’t be trusted on abortion I believe it was. Paid for by a Republican something or other. I was surprised it actually had that in the name and not something more obscure. I don’t know the incident being referenced, sadly. However, the fact they’d try to link this congress person and the bad decision she made on this particular case vs what the entire Republican party, including their opponent, has done/is doing and has pledged to do to weaken abortion rights nationwide is laughable. I see through it cause I know, but others might not. They might not look at the big picture. They might not look beyond what that fucking flier says. They’ll try anything.