The billionaire who gave Trump millions, Bannon


And so much more.

Two journalists look at Robert Mercer, a late-arriving big money donor to the Trump campaign, a billionaire who had bankrolled Ted “The Grand Inquisitor” Cruz before the convention, then came to Trump’s rescue just as things were falling apart, contributing both millions in cash and a cast of personnel, including Steve Bannon and Kellyanne Conway.

Mercer, who made his pile running a hedge fund, holds nightmarish beliefs and considerable cunning. And he’s succeeded in creating a powerful, covert institution designed to create a dystopian world, run by the best crew money can by.

In this report from The Real News Network, reporters Thomas Hedges of the Center for Study of Responsive Law, where his beat is the role of money in politics, and Carrie Levine, who covers the same beat for the Center for Public Integrity, take a close look at Mercer and his agenda:

The Bizarre Far-Right Billionaire Behind Bannon and Trump’s Presidency


From the transcript:

THOMAS HEDGES: The fuel behind Mercer’s influence are the absurd sums of money he approves at the investment company he runs, Renaissance Technologies, based on Long Island. Its famed Medallion Fund is one of the most successful hedge funds in investing history. Averaging 72% returns before fees, over more than 20 years. A statistic that baffles analysts, and outranks the profitability of other competing funds, like the ones George Soros and Warren Buffet run.

In 2015, Mercer had single-handedly catapulted Cruz to the front of the Republican field. Throwing more than $13 million into a super PAC he created for the now failed candidate. But with the Trump campaign faltering, and struggling for support, there’s a second chance for the Mercers to make a big bet.

The Trump campaign is well aware of this, in fact, sources within Mercer’s super PAC would later tell Bloomberg News that shortly after Cruz drops out of the race, Ivanka Trump and her wealthy developer husband Jared Kushner, approach the Mercers, asking if they’d be willing to shift their support behind Trump. The answer is an eventual, but resounding yes.

In the months leading up to Trump’s presidential win, the Mercers would prove a formidable force. Beginning after the disastrous Republican Convention in July, they would furnish the Trump campaign with millions of dollars, and new leadership, but they would also furnish it with something more — a vast network of non-profits, strategists, media companies, research institutions and super PACs that they themselves funded and largely controlled.

CARRIE LEVINE: I think what you’ve seen is a lot of these organizations in this network come out to play a role in the 2016 elections.

HEDGES: With the Mercer family in the picture, the post-convention shake-up starts to make sense. Take Steve Bannon. He and Robert Mercer have been close for years, and Mercer is a top investor at Breitbart News, where Bannon was Chief Editor.

Kellyanne Conway also comes out of this network. Before becoming co-manager of Trump’s campaign, she headed up operations for Robert Mercer’s super PAC when it was still supporting Ted Cruz. And as for Deputy Campaign Manager, David Bossie, he was president of Citizens United, an organization Mercer has heavily funded since at least 2010.

Cambridge Analytica, the mysterious data-mining firm that received grudging praise after predicting the race’s outcome more accurately than any other polling company, is also heavily funded by Robert Mercer, and was employed by the Cruz campaign before Mercer switched over to Trump. In fact, the Mercers’ political infrastructure is so entrenched, that Rebecca Mercer herself sits on the 16-person executive committee of Trump’s transition team.

Mercer’s foray into the White House may seem to have been born partly out of luck, especially with Trump, instead of Cruz, as a stalking horse. But his rise to power was systematic, and it was years in the making.

The web of connections Mercer’s built over the last decade is vast and complex. It includes efforts to dismantle tax law, and weaken the IRS.

It’s about funding quack scientists and conspiracy theorists, who blame the government for, among other things, playing a role in the San Bernardino Massacre. Or of colluding with the United Nations, and using climate change as an excuse to implement environmental laws meant to depopulate America’s Midwest. It’s about pouring money into the neo-conservative John Bolton super PAC, which props up candidates who ascribe to Bolton’s hawkish foreign policy.

But one of Mercer’s earliest activist ventures was financing a slew of fringe documentary projects that have helped raise the profiles of people like Sarah Palin, Michelle Bachman and most notably, the director of those films, Steve Bannon.

Bannon, who was previously a naval officer and Goldman Sachs investment banker, made his first documentary in 2004 about Ronald Reagan. It retold his biography, using washed out black and white archival footage of the Hollywood actor. Painting him as a brave protector of Western democracy from the threat of Communism.

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