Regulatory Influence and Political Views
During the 2012 United States presidential campaign, Peterffy created political ads in support of the Republican Party. Peterffy bought millions of dollars of air time on networks such as CNN, CNBC, and Bloomberg. The ads consist of a minute-long spot narrated by Peterffy that warns against creeping socialism in the United States. The ads were considered remarkable in part because Peterffy is not a candidate and did not buy the ads through a "527 group" but instead paid for them directly.
In the spot Peterffy said, "America's wealth comes from the efforts of people striving for success. Take away their incentive with badmouthing success and you take away the wealth that helps us take care of the needy. Yes, in socialism the rich will be poorer -- but the poor will also be poorer. People will lose interest in really working hard and creating jobs." Peterffy did not directly mention Mitt Romney or Barack Obama, but clearly favors the former.
Peterffy's ad received mixed responses. Joshua Green, writing for Bloomberg, said that, "he ad, while slightly ridiculous, is deeply sincere and also quite affecting." Green also asked Peterffy whether the comparison between the United States and Hungary made in the ad was a fair one: " couldn’t really think that the U.S. was turning into socialist Hungary, could he? The government isn’t suppressing speech and throwing political opponents in jail. No, he conceded, it wasn’t. But it sure feels like that’s the path we’re on." Politico reported that the ad was "being hailed as one of the best spots this election cycle", and said that it could be influential in Ohio due to its large Hungarian population.
Voter registration records in Connecticut show that Peterffy is registered as an independent voter. Campaign contribution records show that he donated at least $60,000 to the Republican National Committee in 2011 and that over the past few years has mostly donated to Republican candidates.
He has testified before the United States Senate Banking Subcommittee on Securities, Insurance, and Investment about adding banking regulations.
Read more about this topic: Thomas Peterffy
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