The Register Citizen (Torrington, CT)
Rich candidates rankle
Some in GOP disturbed by wealthy ‘self-funders’ participating in upcoming gubernatorial debates
Never held elected office? No problem. Grassroots support? Overrated.
But if you can scrounge up $75,000 — tip money for a hedge-fund manager — you, too, can be on the debate stage when Connecticut Republicans hold their first gubernatorial debate on Dec. 6. at Windsor High School.
The inclusion of self-funders at the debate, as well as a private forum in Greenwich two days before for gubernatorial hopefuls, has led to criticism that some political neophytes are being allowed to buy their way into the race.
Several of the GOP contenders who have spent almost a year raising smalldollar contributions to qualify for public campaign financing under Connecticut’s clean-elections program have voiced reservations about the process.
Among those invited to both events is David Stemerman, the Greenwich hedgefund mogul who seeded his campaign
$1.8 million from a credit card.
The other debate participants identified by the party are Trumbull First Selectman Tim Herbst, Shelton Mayor Mark Lauretti, former U.S. Comptroller General Dave Walker, Danbury Mayor Mark Boughton, Westport businessman Steve Obsitnik, the city of Stamford’s chief financial officer, Mike Handler, Fairfield immigration attorney Peter Lumaj, state Rep. Prasad Srinivasan, R-Glastonbury, and Madison businessman Bob Stefanowski.
“In my opinion, having enough money to write a check should not be enough to qualify one for the debates,” said Walker, a Bridgeport resident. “But I respect the chairman’s decision and look forward to the debates. Look, these debates are going to separate the wheat from the chaff.”
Self-funded hopefuls
Stemerman, who left his $1.6 billion Conatus Capital Management firm to join the crowded GOP field for 2018, declined to comment.
From Linda McMahon’s pair of unsuccessful bids for the U.S. Senate to Tom Foley’s twice-thwarted pursuit of the governor’s office, the precedent of Republicans embracing self-funders is well established in Connecticut.
“If the party goes down the road of another rich guy from lower Fairfield County and nominates them, we’re going to get exactly what we deserve, which is a huge loss,” said Boughton, the longtime Danbury mayor. “Connecticut voters have been very clear about what they want and what they don’t want. They’re not looking for the rich person who can empty their hedge fund and just hang out.”
Boughton is exploring a third run for governor. The last one ended badly in 2014, with Boughton forced to withdraw from the GOP primary race after he could not raise $250,000 to qualify for public campaign financing. Candidates can get $1.4 million for the primary and $6.5 million for the general election, but have to raise the $250,000 in increments of no more than $100.
“I’ll enjoy comparing my street cred with their polo scores,” Boughton said of self-funded candidates. “Let them be part of the conversation. That’s democracy. The only concern I have is there are going to be a lot of people up on that stage.”
Lauretti, the 26-year Shelton mayor who is Fairfield County’s longestserving municipal leader, didn’t mince his words, either.
“Just because someone is successful financially, that in no way shape or form qualifies them to run some form of government where you have to supply public services, which come in a whole array of forms,” Lauretti said. “Writing a check out, there’s a lot of people can do that. I’m not sure that is the kind of cure that Connecticut is looking for.”
State GOP Chairman J.R. Romano said money factored into the list.
“This is politics. Campaigns cost money,” he said. “Stemerman qualifies based on that one piece of the recipe. He’s going to have to take his message to the voters. Any candidate that has a problem with someone who is a self-funder, show up at the debate and prosecute your case.”
One of the newcomers who was invited to both events is Stefanowski, a former UBS Investment Bank chief financial officer and former president and CEO of General Electric Corporate Financial Services in Europe. The Madwith ison resident seeded his campaign with $250,000, but said he has raised more than $60,000 from at least 100 contributors.
“I wouldn’t call me a self-funder,” Stefanowski said. “It’s an interesting argument that (since) I’m not taking $1.4 million in taxpayer money that I shouldn’t be allowed to go to a debate. The state party decides who goes. It really shouldn’t be the candidates.”
Some left off the list
Handler, a New Canaan resident who has raised more than $117,000 in small contributions for his campaign, said there’s a real upside to participating in the clean-elections program.
“Personally, I think self-funding candidates are missing a valuable opportunity to engage with the citizens of Connecticut,” Handler said. “I have found the process to be extremely rewarding as I share real solutions to our state’s challenges.”
One GOP candidate who was completely snubbed was Joe Visconti, a Trump diehard and former West Hartford town councilor who ran as a petition candidate for governor in 2014. In hasty accord with Republican nominee Tom Foley, Visconti withdrew from the race in early November, but it was too late to remove his name from the ballot. He and his running mate received 11,456 votes.
“It’s the Grey Poupon party. It’s the 1 percenters,” Visconti said of the state GOP. “I’m a workingclass Republican. I (also) believe it’s the Trump factor. The GOP ran away from Trump. I represent Donald Trump in Connecticut as a candidate.”