Friday, November 5, 2010

Soros-sponsored candidates, ballot initiatives
go down on Election Day

From on Nov. 4:
Election night was a bad night for Democrats. It was even worse for their financiers.

Billionaire George Soros, the Hungarian-born businessman known for bankrolling liberal causes, saw a slew of his pet projects and candidates get wiped out in the Republican-red tide on Tuesday.

Not only did Soros-sponsored call the results "devastating," his Secretary of State Project suffered its worst losses since its founding in 2006.

The Secretary of State Project, which sprouted out of the Soros-backed Democracy Alliance, was built as a vehicle to support "reform-minded" candidates for secretary of state. Since these often-overlooked officials have authority over state election rules, they can play a huge role in close or disputed political contests.

Though the initiative went four-for-four in the 2008 election, only two of its seven endorsed candidates won their races on Tuesday. The trend coincided with historic losses for Democrats at the state and federal level. Republicans seized the U.S. House of Representatives, picked up at least six seats in the U.S. Senate, won a majority of the gubernatorial races and made a net gain of more than 500 state-level legislative seats.

The Secretary of State Project, in a message to supporters on its home page, chalked up its losses to the overarching electoral trend.

"2010 was a tough year. We helped re-elect Mark Ritchie in Minnesota and Debra Bowen in California, but our candidates in other states -- incumbents and challengers alike -- were all defeated in the Republican wave election," the group said.


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