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BILLIONAIRE MITT BACKER: RICH HAVE 'INSUFFICIENT INFLUENCE' ON POLITICS

Ken Griffin, Billionaire Romney Backer, Says Super Rich Have 'An Insufficient Influence' On Politics

A billionaire backer of Mitt Romney said that the wealthy have "an insufficient influence" on politics and policy.

In an interview with the Chicago Tribune, Ken Griffin, founder of the hedge fund Citadel was asked if he thought rich people had too great of an influence on politics.

"I think they actually have an insufficient influence," he responded. "Those who have enjoyed the benefits of our system more than ever now owe a duty to protect the system that has created the greatest nation on this planet."

He also told the Tribune that he believes he should be able to donate an unlimited amount of money to Super PACs.

According to FEC filings, Griffin recently donated $100,000 to Restore Our Future, a pro-Romney Super PAC. He gave $2,500 to Romney personally, as well as to a slew of other Republican candidates and groups. His wife has also donated to Romney.

As the Huffington Post's Dan Froomkin reported, Romney's hedge fund backers (including Griffin) stand to profit big from their donations. A second Obama term could mean more and higher taxes on the ultrawealthy. Private equity or hedge fund moguls comprise over half of the donations to Restore Our Future, according to the New York Times.
http://www.huffingtonpost.com/2012/03/11/ken-griffin-mitt-romney_n_1337721.html