Ex-hedge fund CEO defeats Senate Democrat in Pennsylvania [Fortune]
Blackstone Inc. (BX)
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Source: Fortune
former CEO of a hedge fund giant trounce a scion of a political dynasty in a year defined by appeals to the working class. McCormick's victory effectively gives Wall Street a Senate seat ahead of major battles in Congress next year over expiring Trump-era tax cuts and extending the federal debt limit. The win, which is being contested by Casey's team, also underscores how GOP's electoral fortunes are surging in this closely divided swing state. “This race is within half a point and cannot be called while the votes of thousands of Pennsylvanians are still being counted,” Casey's campaign said in a statement on Thursday. The Pennsylvania Secretary of State separately said there are at least 100,000 ballots that must be “adjudicated,” urging patience especially in contests where margins are very close. The former head of Bridgewater Associates, 59, rode a wave of enthusiasm for Donald Trump and a tide of money from out-of-state billionaires across rural counties and exurbs of battl
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