(CNBC) You’d think that rich political donors would be celebrating. But the Supreme Court’s decision to lift limits on political giving is actually making some donors miserable.
“This is bad news,” said Jim Chanos, the hedge funder and frequent donor to Democratic politicians.
The reason? Now that there are fewer limits on giving, politicians and parties are going to get far more aggressive in shaking down the rich for campaign cash. While some are calling it the “Great Sellout,” it is also going to become the “Great Shakedown.”
“My inbox and voice mail is going to be clogged,” Chanos said.
