News That Matters

This article was first posted at Left of the Hudson: Progressive News and Views for Rockland County by Flo Greenwood.

by Flo Greenwood, special to Left of the Hudson

While John Hall stayed home in his district last night, donating his time and talents to save the Beacon Theater, Nan Hayworth was living the high life out of State, partying at her fundraiser thrown by Hedge Fund Kings Steven Shapiro and Charlie Parkhurst in tony Greenwich, CT.

Shapiro and Parkhurst have worked for both large investment banks and for so-called salon firms, tiny entities which can still hold billions in investor assets. Shapiro headed Intrepid Capital Investments, which managed to lose nearly 90 percent of investment capital between 2007 and 2009. Parkhurst, a former managing director at Smith Barney, moved on to Archeus Captial Management, which shut down when its hedge funds went from $3 billion to $700 million in assets in three years. After helping to form Centerlight Capital Management in the dust of Archeus, Parkhurst has gone on to be a trader at the British Investment Bank Barclays.

Despite investors losing their shirts on Archeus and Intrepid investments, times must not be too bad for Shapiro and Parkhust, neither of whom are residents of New York State or the 19th Congressional District. Prior to last night’s high-price soiree at Shapiro’s mansion (just check out this Google maps image), both have donated $2,400 to Hayworth’s campaign.

Nan Hayworth is a multi-millionaire herself and largely a self-funding candidate in her campaign’s early stages. Hayworth’s husband runs the mammoth Mount Kisco Medical Group of more than 200 physicians in Westchester County.

A version of this diary is posted at The Albany Project and Take 19.

Popularity: 6% [?]