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JUST THREE YEARS ago, hedge fund manager Louis Bacon was writing a $19,600 check to a committee called “Boehner for Speaker.”

Now, the billionaire GOP donor has pivoted to influence the future of the Democratic Party. Records show Bacon is one of several deep-pocketed donors that have shifted to financing recent Democratic campaigns. Though national media attention has focused largely on newly elected democratic socialists and progressive members, the House Democratic caucus has also swelled with pro-business moderates, such as the Blue Dogs, the Problem Solvers Caucus, and the New Democrats.

The newly ascendent centrists flexed their muscle this week when a bloc of moderate lawmakers imposed a set of rules on Rep. Nancy Pelosi in her bid for speaker of the House, forcing the California Democrat to accept parliamentary changes that are designed to give the GOP greater access to floor votes and amending legislation.

The rule changes were proposed by the Problem Solvers Caucus — a nearly 2-year-old group affiliated with the organization No Labels that consists of 24 House Democrats and 24 House Republicans. Many of the members of the caucus were elected with financial support from Bacon, the billionaire hedge fund manager, along other wealthy donors with a long history of giving to Republicans.

full: https://theintercept.com/2018/11/29/no-labels-nancy-pelosi-speaker-house-no-labels/
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