Newly-charged Ralph Cioffi of Bear Stearns was generous political donor

Former Bear Stearns fund manager Ralph R. Cioffi, who made news in a big way in recent days by being one of the first two investors charged in the latest Wall Street scandal, regularly took time out from his busy schedule to make campaign donations to politicians, most of them Republicans.

But with a few exceptions, Cioffi's political calls weren't particularly shrewd, according to campaign financial data unearthed by The Times' chief money digger, Dan Morain.

In the presidential campaign, he gave $2,300 not to John McCain, Mitt Romney or even to Sam Brownback.

In May 2007, at a time the indictment says he was actively misleading investors, Cioffi donated $2,300 to James Gilmore, the former Virginia governor who didn't even make it through last summer as a GOP presidential candidate and is trailing in the Virginia Senate race these days.

Over the years, Cioffi gave to two Democrats -- $2,000 to former Gen. Wesley Clark in 2003, and $500 to Sen. Bill Bradley in 1999. Those worked out well.

The rest appears to have gone to Republicans, including $4,000 to President George W. Bush's reelection in 2003; $1,000 to former New York Rep. Rick Lazio in 2000 for his run to once and for all stop the emerging political career of someone named Hillary Clinton.

Cioffi also gave $1,000 to Steve Forbes in 1999; and $4,100 to Vermont congressional candidate Martha Rainville in 2006. In 1998, he gave $1,000 to Rudolph Giuliani's mayoral campaign, according to New York City records.

Then on Dec. 4, 2007, Cioffi became interested in much smaller government and turned sort of libertarian, giving $500 to the GOP presidential campaign of Rep. Ron Paul, who calls himself a Republican but ran on the Libertarian presidential ticket in 1988.

Paul is a free market advocate with little use for government regulators. That appears to  be Cioffi's final campaign donation, at least according to Federal Election Commission records.

Cioffi's co-defendant, Matthew M. Tannin, evidently did not play politics. And look what it got him.

-- Andrew Malcolm

Photo credit: AP

Comments

[ibankinsider.com]

Isn't it strange that someone who has previously worked as the head of fixed income sales, someone who worked all the way to the top would put something so sensitive down in black and white, in an email? He's probably heading to jail now, with so much evidence against him. NOT putting anything on email is definitely a lesson for all ibankers and hedge fund managers out there.

[Rick Sincere]

Ron Paul doesn't "call himself a Republican." He _is_ a Republican. He has been elected as a Republican member of Congress in every election since 1996 (He also served several terms between 1976 and 1984, all as a Republican.)

Paul ran as a Republican in this year's presidential primaries and refused entreaties to enter the general election race as an independent.