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The Mechanics
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Election 2014 Tue Jun 24 2014

Rauner Donor's Hedge Fund Group Received $200 Million in Bailout Funds

The Sun-Times reported on Friday that Citadel, a hedge fund founded by Kenneth Griffin, received $200 million in bailout funds in 2009 from AIG.

Griffin recently gave Bruce Rauner's gubernatorial campaign $2.5 million in campaign contributions. Griffin has also given more than $1 million previously to Rauner's campaign as well as allowing Rauner to use Griffin's private jet for campaigning in Illinois.

Griffin was able to give $2.5 million to Rauner's campaign due to a loophole in campaign finance laws, according to Ben Joravsky and Mick Dumke of the Chicago Reader.

Chicagoist explained in 2009 that Citadel received the bailout funds from AIG due to investments made, including those such as bonds, securities and mortgage-backed securities. As a result of the investments made by Citadel, AIG owed the hedge fund money.

Rauner notably described himself as being part of the ".01 percent." He has given $6.5 million to his own campaign according to the Reader.

 

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