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Wall Street Moguls Funded Pro-GOP Rove Group

As President Obama adjusts to Democrats’ reduced legislative standing, new details have emerged on the privately funded effort to elect Republican candidates. NBC News reports the bulk of funding for the Karl Rove-founded group Crossroads GPS "came from a small circle of extremely wealthy Wall Street hedge fund and private equity moguls." Rove helped coordinate Crossroads’ spending on attack ads against vulnerable Democrats along with other right-wing groups. Both Crossroads and sister group American Crossroads spent $38 million on attack ads and mailings targeting Democratic candidates. According to NBC, Republican candidates won nine of the 12 Senate races and 14 of 22 House races where Rove’s groups spent money.

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