Posted on 10/02/2011 7:08:03 AM PDT by Diana in Wisconsin
Madison, WI - Already crowded with big-name candidates, the GOP primary for U.S. Senate may not yet be settled - a Madison native with deep pockets says he's also mulling a run.
A candidacy by investor Eric Hovde could possibly follow in the footsteps of the state's two current millionaire U.S. senators, outgoing Democrat Herb Kohl and Republican Ron Johnson. But Hovde could face challenges in repeating that success.
Hovde, who recently moved back to Madison after two decades in Washington, D.C., said he wants to see changes with President Barack Obama's economic policies and with the way politicians of both parties have catered to Wall Street.
To help spread that message, Hovde said he would be able to tap his own wealth gained through family real estate holdings, banking and hedge fund management to the tune of $10 million. But so far, Hovde is just looking over a run, putting out feelers and has not hired any consultants or advisers.
"I am (interested) and I'm not, to be honest with you," Hovde said. "I'm interested from the standpoint of doing it because I'm so thoroughly disappointed how our country has been led and how the economic policies for the last 10 or 12 years have been dominated by Washington being bought off by Wall Street."
The strategy worked in 2010 for Johnson, a wealthy Oshkosh manufacturer who managed to clear the GOP field, avoid a serious primary and unseat Democratic incumbent Russ Feingold.
But a year ago, the Republican primary had no established candidates. Madison developer Terrence Wall was little known and had been criticized for not having owed or paid state income taxes, and Dick Leinenkugel was considered suspect by many Republicans for having worked for Democratic Gov. Jim Doyle.
This time, several established Republican politicians already are announced or all but announced: former Gov. Tommy Thompson, former U.S. Rep. Mark Neumann, Assembly Speaker Jeff Fitzgerald and state Sen. Frank Lasee. Democratic U.S. Rep. Tammy Baldwin of Madison also is running.
Mark Graul, a GOP strategist who's not working for any of the candidates, said it will be more difficult for a political outsider to rise to win the party's 2012 primary.
"There are some real heavyweights who are announced in that race or about to be announced in that race who have already locked up some big support," he said.
Hovde, 47, was born and raised in Madison. His father Donald was a real estate developer in the city and served as an undersecretary at the U.S. Department of Housing and Urban Development during President Ronald Reagan's administration.
For the past 24 years, Hovde lived in Washington, D.C., and worked in financial services. He's the chief executive officer of Hovde Capital Advisors, which manages a series of hedge funds.
He also helps oversee real estate investments in Madison, community banks in states like California, Maryland and Florida and a charitable family foundation.
Hovde has a wife, teenage daughter and stepdaughter and this summer moved back to the Madison area because he said he sees it as a better place for his family.
Campaign manager Chip Englander said Neumann as a former congressman and developer combines private-sector success and a record as a conservative in Congress.
"He's the total package - business experience and a conservative record," Englander said.
Brian Schimming, a longtime GOP strategist and adviser to Thompson, said the former governor and federal Health and Human Services secretary welcomed a crowded primary.
"It's pretty hard to make a case against Tommy Thompson," Schimming said.
he looks like brett farve
Wiscosnin and USA needs someone like Eric Hovde to represent the people as opposed to the Chicago sytle politics that is corrupting the American economic system.
Go for the US Senate, Eric. Be a winner like the Packers, Badgers and Brewers!
I still think that Thompson will bail again at the last minute..I think he could easily win the general, but will have a BIG problem with the primary..hence he might choose NOT to run..
Well, I CERTAINLY don’t want Tammy, LOL!
Tommy could probably go the distance and our local conservative news/radio people like him and a lot of them have worked for him in the past.
I don’t want Neumann. I know nothing of Hovde.
It's more the other way around, really, but his way makes a better populist soundbite.
Is he any relation to Glenn Hovde??
Is he any relation to Glenn Hovde??
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