Mccormick's Hedge Fund Days Are A Double-edged Sword In Pennsylvania's Senate Race

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mccormicks hedge fund days are a doubleedged sword in pennsylvanias senate race

Before he ran for the U.S. Senate in Pennsylvania, David McCormick was a big name on Wall Street.

He was the CEO of the world's largest hedge fund, a world-traveled executive who was sought after for speaking engagements and prominent board positions.

His wealth and connections got him flagged by Republicans as someone who could both raise campaign cash and pay his own way for a Senate campaign.

But McCormick's Wall Street days haven't been such an asset of late. They provided grist for attacks by Republican primary rivals in McCormick's failed 2022 run for Senate and now by Democrats in his challenge to third-term Sen. Bob Casey .

Casey, in speeches and ads, hammers away at investments made by Bridgewater Associates while McCormick was CEO, including in Chinese companies that are considered part of Beijing's military and surveillance industrial complex.