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John McCain Brings All the Billionaires to the Yard

McCain
John McCain is coming to New York next Tuesday for a giant fund-raiser to power his national campaign, reports Elizabeth Benjamin at the Daily News. It sounds like it's going to be a doozy — the host committee includes Henry Kissinger, Alfonse D'Amato, Woody Johnson, Georgette Mosbacher, and Merrill Lynch CEO John Thain. Tickets are either $1,000 or $2,300 per person (get it? The most you can donate to one candidate?), and it will take place at the Plaza. So glamorous. But let's get down to business (literally). How many billionaires will be in attendance? And how many billions do they represent? From Forbes.com's most recent list, we count five: Henry Kravis (the world's 178th-richest man, worth $5.5 billion), Ray Dalio (worth $4 billion), Louis Bacon (worth $1.7 billion), Marc Rowan (worth $1.5 billion), and Robert Fisher ($1.4 billion). That's a total of over $14 billion in the room with the Republican presidential nominee. There are several dozen other multimillionaires on the list, plus Lord knows how many buying tickets — so we'll conservatively push that number over the $15 billion barrier. At first, we wondered how on earth any of the Democrats could get that much money into one room. And then we remembered that all Hillary needs to do is have Warren Buffet hold another fund-raiser, and she'd be in the company of quadruple that amount. Nobody else would even need to show up.

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Fashion Week to Continue to Trample Bryant Park

FINANCE • Will the city council outlaw the 'R' word next? As Merrill Lynch's chief economist puts it, calling the recent downturn a recession "is like looking a client in the eye and telling them that their child is ugly." [FT via MSN] • Second Life's going through something of a recession too, but the Post thinks the cyber version of Fed chief Ben Bernanke is taking a more proactive role. Snap! [NYP] • The hardest hit hedge funds in August include lots of big names, like Paul Tudor Jones, Louis Bacon, and Bruce Kovner. [FT via MSN]

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