{"id":2097746,"date":"2023-11-13T17:55:02","date_gmt":"2023-11-13T22:55:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-taps-top-campaign-donor-to-lead-powerful-treasury-department-commission\/"},"modified":"2023-11-13T17:58:01","modified_gmt":"2023-11-13T22:58:01","slug":"biden-taps-top-campaign-donor-to-lead-powerful-treasury-department-commission","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-taps-top-campaign-donor-to-lead-powerful-treasury-department-commission\/","title":{"rendered":"Biden Taps Top Campaign Donor To Lead Powerful Treasury Department Commission"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-taps-top-campaign-donor-to-lead-powerful-treasury-department-commission%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2097746&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><blockquote>\n<h2>Top Campaign Donor \u2064and \u200dHedge \u2064Fund Founder Chosen to Lead Treasury Department \u2062Commission<\/h2>\n<figure><figcaption>Orin Kramer (L) and Financial Times&#8217;s\u200c Darcy Keller at an Edward Luce \u2062book party, May 2012. (Grace Villamil\/Wikimedia Commons).<\/figcaption><\/figure>\n<\/blockquote>\n<div>\n<p>President \u200dJoe\u200b Biden has\u200c appointed a\u200d prominent campaign donor and hedge fund founder to head \u2064a influential Treasury Department commission. This decision comes shortly after the donor cohosted a fundraiser for\u2064 Biden&#8217;s reelection\u2062 campaign.<\/p>\n<p>Biden&#8217;s Treasury Department \u200drecently announced that Orin Kramer, the founder of Boston Provident,\u200b will serve as the chair of the Commission\u200d on Social Impact\u200b Partnerships. This commission plays\u2064 a crucial role in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/republicans-want-to-end-taxpayer-funding-for-activist-group-behind-netanyahu-protests\/\" title=\"Republicans want to stop the dissident group behind Netanyahu's's rallies from receiving tax payer funding.\">allocating taxpayer funds<\/a>\u2062 to state and local governments through\u200d grants. Interestingly, this appointment follows Kramer&#8217;s involvement in a &#8220;Broadway for Biden&#8221; fundraiser, where he \u200d<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-taps-top-campaign-donor-to-lead-powerful-treasury-department-commission\/\" title=\"Biden Taps Top Campaign Donor To Lead Powerful Treasury Department Commission\">helped raise funds alongside notable performers<\/a> such as Lin-Manuel Miranda,\u2063 Sara Bareilles, and Josh \u200bGroban. Kramer has \u2063been a dedicated supporter of Biden, serving as a campaign bundler\u2062 and contributing\u2064 nearly $500,000\u200c to the Democrat&#8217;s\u2064 presidential campaigns.<\/p>\n<p>By appointing Kramer as\u200b commission chair, a position that only the president has the authority to \u200bfill, Biden appears to be rewarding his top \u200cdonors \u2062who have backed \u2064his reelection bid. \u2063This move\u200b comes at a time when some members of his own party have expressed dissatisfaction with \u200chis leadership. Democratic\u2064 congressman Dean \u200dPhillips recently launched a primary challenge against Biden, criticizing\u2062 his ability to defeat \u2064former president Donald \u200cTrump. Additionally, Senator Joe Manchin has announced that \u200che will not seek reelection\u2064 and has even considered running for \u2062president\u2062 as \u2063an independent.<\/p>\n<p>Kramer, who established \u2062Boston Provident in 1992 and continues to manage the\u200b <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/top-hedge-fund-firm-dishonest-officials-set-world-on-path-to-hyperinflation-societal-collapse-possible\/\" title=\"Top Hedge Fund Firm: \u2018Dishonest\u2019 Officials Set World On Path To \u2018Hyperinflation,\u2019 \u2018Societal Collapse\u2019 Possible\">hedge fund firm<\/a>, began fundraising for Biden in\u2062 March 2020. Prior to that, he had worked to support Pete Buttigieg&#8217;s \u200ccampaign. \u200dWhile the exact \u2063amount Kramer raised for Biden is unknown, he is\u2062 listed \u200bas a campaign bundler, \u2064indicating\u200d that he brought in at least $100,000 for the Democrat. \u200dKramer himself made a \u200cpersonal contribution of $350,000 to \u2064Biden&#8217;s joint fundraising committee in 2020 and has donated over $100,000\u200d to Biden&#8217;s reelection campaign.<\/p>\n<p>In his role as\u200b chair of\u200b the Commission on\u2062 Social\u2062 Impact Partnerships, Kramer will lead an advisory body that \u2063provides recommendations to Treasury \u2062Secretary \u2064Janet Yellen regarding the\u2063 Social Impact Partnership to \u2063Pay for Results Act. This program allocates millions \u200dof federal dollars to state and local \u200bgovernments. \u200cNotably, the program awarded up to $8.2 million to the New York State Energy Research\u200b and\u2064 Development Authority in 2021\u2063 for\u200c a project focused \u2063on clean energy job\u2063 training.\u200c Kramer&#8217;s involvement\u200c in the green energy industry is evident\u200c through \u2063his position on the board of \u2063the Climate Reality Project, a nonprofit led by former vice president Al Gore that aims to\u200c train and support climate activists.<\/p>\n<p>The Treasury Department and Kramer declined\u2062 to comment on this\u200b appointment. It is worth mentioning that Biden \u200calso \u200bhosted Kramer at a\u2062 state \u2064dinner \u2063in October 2023, where Australian prime\u2064 minister Anthony Albanese was the guest of honor. Kramer has a history of \u200cinvolvement with Democratic \u200dadministrations, having served on former president\u200c Bill Clinton&#8217;s transition team in 1992 and later joining the administration in an advisory role in 1995.<\/p>\n<p>This is \u200dnot\u200d the first time Biden has rewarded top fundraisers with positions in his administration. In September 2022, he appointed\u200c Monica Medina, an environmental activist and wife of\u200b former White House chief of staff Ron Klain, as the U.S.\u200b Special Envoy for\u2062 Biodiversity and Water Resources. Biden also selected Elizabeth Hirsh Naftali, a\u200b prominent liberal donor and Hunter Biden art buyer, to serve on the Commission for the\u200d Preservation \u2064of America&#8217;s Heritage Abroad. Hirsh Naftali has visited the Biden White House\u200c on\u200c multiple occasions.<\/p>\n<\/div>\n<p> <\/p>\n<h2> \u2064 What arguments do supporters of Biden present for rewarding top donors with positions\u200d in\u2062 the administration?<\/h2>\n<p><span>  Has raised a significant amount of money for the campaign by collecting\u2063 donations from various individuals.<\/p>\n<p>The appointment of \u2063Kramer to lead the \u200dCommission \u2063on \u2063Social \u2064Impact Partnerships\u2063 raises questions about \u200bthe\u200d influence of campaign donors in the Biden administration. Critics argue that this move undermines\u2062 the principle of meritocracy \u200dand raises concerns \u2063about the \u200dundue influence of wealthy individuals \u200din the government decision-making \u200bprocess.<\/p>\n<p>On the other hand, supporters of Biden argue that it is not uncommon for presidents to \u2063reward their top donors with positions in\u2063 the administration. They argue that these individuals have demonstrated their commitment to the\u200c candidate&#8217;s vision and policies\u200d through their financial support and should be given the opportunity to contribute to the \u2062government in \u200da meaningful\u2062 way.<\/p>\n<p>It should be \u2064noted that Kramer&#8217;s experience in the finance industry could bring valuable insights to the commission. As the founder and manager of a hedge fund firm, he\u2063 is well-versed in financial\u2062 investments and has\u2062 a deep \u2062understanding of the economy. This expertise could\u200c prove beneficial in the commission&#8217;s role of allocating taxpayer funds to \u200cstate and local governments.<\/p>\n<p>However, critics argue that appointing a\u2064 hedge fund founder to lead a commission \u200cthat allocates \u200dtaxpayer funds raises concerns about \u200dconflicts of\u2064 interest. They argue that individuals from the financial industry may prioritize \u200dtheir own\u2064 interests or those of their industry colleagues over the needs of the general public.<\/p>\n<p>The\u200b appointment \u2064of\u2064 Kramer also highlights \u2062the role of campaign fundraising \u200bin American politics. Fundraising \u2063has become an integral part of political campaigns, with candidates relying heavily on \u2064donations to finance their campaigns. \u2063This has\u200c led to\u2062 the perception that wealthy individuals\u200d and corporations have disproportionate influence over the political process.<\/p>\n<p>In \u2062conclusion, President Biden&#8217;s appointment of a prominent campaign donor and hedge fund\u2064 founder to \u200dlead a\u200c Treasury Department\u2063 commission \u2062raises questions about the influence of\u200c campaign contributors in\u200d the government decision-making process. While supporters argue\u200c that these individuals deserve recognition for their financial support, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/state-sanctioned-kidnapping-california-dems-approve-plan-to-let-kids-enroll-in-group-homes-without-parental-consent\/\" title=\"'State-Sanctioned Kidnapping': California Dems Approve Plan To Let Kids Enroll in Group Homes Without Parental Consent\">critics raise concerns<\/a> about conflicts\u200d of interest\u2063 and the influence of wealthy individuals in politics. This appointment \u2063highlights the broader issue\u2062 of campaign fundraising and its\u2064 impact on American politics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Announcement comes weeks after hedge fund founder Orin Kramer cohosted Biden reelection fundraiser Orin Kramer (L) and Financial Times&#8217;s Darcy Keller at an Edward Luce book party, May 2012. (Grace Villamil\/Wikimedia Commons). President Joe Biden tapped a top campaign donor and hedge fund founder to lead a powerful Treasury Department commission\u2014just weeks after that donor<\/p>\n","protected":false},"author":2020,"featured_media":2097747,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[],"class_list":["post-2097746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2097746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2020"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2097746"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2097746\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2097747"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2097746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2097746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2097746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}