WHAT THEY’RE SAYING: CHINA ATTACKS DOMINATE MCCORMICK ANNOUNCEMENT

News | Press Releases · Jan 13, 2022

“‘Meet Wall Street CEO David McCormick…He’s a friend of China and outsourced Pittsburgh jobs.”

PENNSYLVANIA — Connecticut hedge fund executive David McCormick has officially announced his entrance into the “chaotic” GOP Senate primary, adding more turmoil to a primary that is already one of the messiest and most expensive in the country.

McCormick spent his first day as an official candidate facing attacks around his ties to China and record of cutting Pennsylvania jobs. See for yourself: 

  • Washington Examiner, Dr. Oz super PAC greets David McCormick’s Pennsylvania Senate bid with fresh attacks: “American Leadership Action on Wednesday unveiled a website and posted a new digital advertisement criticizing McCormick’s ties to China, with both timed to coincide with the former hedge fund CEO’s expected entry into the race for the Republican Senate nomination.’Meet Wall Street CEO David McCormick,’ American Leadership Action’s website reads across the top. ‘He’s a friend of China and outsourced Pittsburgh jobs.’”
  • Mehmet Oz Campaign Statement: “Beijing’s favorite candidate David McCormick’s deep ties to the Chinese Communist Party aren’t just problematic, they are dangerous. A senator for Pennsylvania should not have a sterling record of enriching the Chinese Communist Party.”

“You just mentioned China. Look, you’ve been in business and trading across the world for many many years. People would say you’re a globalist. you have done business in terms of outside, not necessarily just America first. “

“You’ve been criticized by a super-PAC for supporting fellow- a PAC supporting fellow candidate Dr. Oz as being a friend of China, David. So walk us through where you get this- this outlook that you want to take on China. I mean after all your partner for so many years was Ray Dalio. And Ray Dalio has been managing money for the CCP.”

“And then more recently, yes, Bridgewater has done business with China.”

  • Pittsburgh Post Gazette: “Rivals are also targeting Mr. McCormick over Bridgewater’s hefty investments in China, suggesting that he would be soft on a formidable U.S. adversary.”
  • Philadelphia Inquirer: “A senator for Pennsylvania should not have a sterling record of enriching the Chinese Communist Party,” said Casey Contres, Oz’s campaign manager. Oz’s camp also released a memo emphasizing positive comments McCormick made about China in the past, the more than $1 billion his fund raised there last year and previous criticisms he offered of Trump.
  • Politico, McCormick MAGA-proofs his Senate campaign after dissing Trump: Dave McCormick has been quoted bashing populism, celebrating skilled immigration and even warning about the potential drawbacks of an “America First” mindset. A former hedge fund CEO, he’s overseen more than $1 billion in investments in China.
  • HuffPost: While McCormick didn’t officially announce his candidacy until Thursday, his rivals have been treating him like an opponent for weeks. The Pennsylvania Democratic Party asked federal election officials to look into $2 million in TV ads he placed in the state before declaring his candidacy. A political action committee supporting another Republican in the race, TV host Mehmet Oz, launched an ad attacking McCormick’s ties to China, where Bridgewater Associates manages $5 billon of its $150 billion portfolio.

McCormick also drew attacks for his carpetbagger status and refusal to participate in last night’s GOP debate in New Castle, PA:

  • The Chris Stigall Show, Interview with George Bochetto: “And who was it that didn’t show, the three carpetbaggers, the three folks that want to parachute into Pennsylvania, lie to us and tell us they’re from Pennsylvania and they’re Pennsylvanians…Carla Sands, Dr. Oz, David McCormick, not one of them were there. Not one of them’s from Pennsylvania. Not one of them gives a hoot about Pennsylvania. And last night was exhibit A.”

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