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Minnesota Senate rivals tied to investment firm

April 11, 2014
Associated Press

ST. PAUL, Minn. (AP) — Democrats fighting to protect Minnesota Sen. Al Franken's seat want to replicate the last presidential campaign playbook by casting a well-funded GOP challenger as a corporate raider who put profit over people.

Franken's allies have concentrated on Republican candidate Mike McFadden's investment banking career at brokerage firm Lazard Middle Market.

But there may be a hitch.

An examination of Franken's personal investments shows he has a stake in the firm's parent company through a mutual fund. That fund holds stock in companies with a "socially responsive" reputation.

Democrats and Franken's campaign say the holding won't affect their approach. McFadden's team argues that attacks on the company would be hypocritical.

McFadden is a leading contender in a crowded field of Republicans seeking the party nomination to face the first-term Franken.



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