GREEN BAY, WI (WTAQ) - Hedge fund manager Eric Hovde announced his Republican candidacy for the U.S. Senate Thrusday by lashing out at the Obama stimulus and the TARP banking bailout program. But the Associated Press cited federal records which showed that Hovde’s investment company put money in at least 33 banks that received $29-billion in TARP funds. Hovde was asked about it during an appearance near Madison. He said his firm invested in a host of companies, but he never owned a bank that received TARP funds. Hovde said he was against the way the bailout program was structured. He’s the CEO of Hovde Capital Advisors. It manages hedge funds. And it oversees community banks, real estate investments, and a family charitable foundation. Hovde spent two dozen years in Washington but has moved back to Madison where he’s originally from. He said the federal government was quote, “addicted to spending.” Hovde announced his Senate bid in Dane this morning – and he had stops planned in Milwaukee, Eau Claire, and Green Bay. He’s the fifth Republican to run for the Senate seat that’s being vacated by Democrat Herb Kohl. They’ll all square off in a GOP primary in mid-August.
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