UPDATE: Senate candidate Hovde lashes out against stimulus - WAOW - Newsline 9, Wausau News, Weather, Sports

UPDATE: Senate candidate Hovde lashes out against stimulus

Posted:
DANE (AP) -

A Republican hedge fund manager who has entered Wisconsin's Republican U.S. Senate race is attempting to position himself as an anti-government conservative even though his company invested in banks that received billions in government bail outs.

Eric Hovde entered the Senate race Thursday by lashing out at the federal stimulus and government bank bailout program known as TARP, saying the government was "addicted to spending."

But U.S. Securities and Exchange Commission records show that Hovde's own company invested in at least 33 banks that received $29 billion in TARP money.

When asked about it, Hovde says his company invested in a variety of companies, but he never owned a bank that received TARP funds.

He says he was opposed to the way the bailout program was structured.

 

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The Republican race for the U.S. Senate nomination has just gotten more crowded.

Hedge fund manager Eric Hovde announced his candidacy Thursday in Dane, and planned additional campaign stops in Milwaukee, Green Bay and Eau Claire. A native of Madison, Hovde has lived the past 24 years in Washington, D.C.

He is chief executive officer of Hovde Capital Advisors, which manages hedge funds, and he also oversees real estate investments, community banks and a charitable family foundation.

Hovde will join a field that includes former Gov. Tommy Thompson, state Assembly Speaker Jeff Fitzgerald and former U.S. Rep. Mark Neumann. The only Democratic candidate is U.S. Rep. Tammy Baldwin.

The race is to replace retiring Democratic U.S. Sen. Herb Kohl.

The Republican primary is Aug. 14.

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