Romney Has Major Stake in Sinking Fund

Candidates in both parties could see big donations dry up

By Evelyn Renold

Posted Aug 16, 2007 7:23 PM CDT

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Romney Has Major Stake in Sinking Fund — Republican presidential hopeful Mitt Romney, speaks to a group of supporters during a town hall meeting in Winter Park, Fla., Wednesday, Aug. 15, 2007.(AP Photo/John Raoux) (Associated Press)

Former Massachusetts Governor Mitt Romney has a substantial investment in a teetering Goldman Sachs hedge fund that was propped up with a $3 billion cash infusion after it lost a third of its value. Romney, who won a symbolic victory in Iowa's GOP straw poll last weekend, is thought to have least $1M in the Global Equity Opportunities Fund, reports thestreet.com.

Given Romney's immense wealth (estimated at 250M), the fund meltdown may not be so painful for him. But the real-estate and credit collapse could mean trouble for other presidential candidates, both Democrats and Republicans, who rely on Wall Street banks, hedge-fund companies and the real-estate industry for major campaign contributions.

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