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The secret hedge-fund conference already courting newly elected Dems

Reported by Alternet
Nov 15, 2026· 2 min read
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Key Takeaways
  • • Majority Democrats, a group reportedly financed mainly by hedge-fund billionaire Steve Mandel, hosted an invitation-only "What's Next" conference for newly elected Democrats in Denver last week.
  • • Political consultants reportedly attended the Denver conference, while the author notes no labor, civil rights, environmental, or Black or Hispanic leaders were invited.
  • • The article is an opinion piece by a longtime progressive commentator who urges grassroots organizing to pressure newly elected Democrats, with the 119th Congress set to be sworn in January 3.
  • • The author warns that moneyed interests, Wall Street lobbyists, crypto, AI, AIPAC, and corporate groups such as Third Way are mobilizing to court new members of Congress.
Summary
An opinion column published on AlterNet argues that moneyed interests are already courting newly elected Democrats following the recent midterm wins, including Senator-elect Scott Colom's victory in Mississippi and Governor-elect Jonathan Kreiss-Tomkins's win in Alaska. The author frames the moment as an opportunity for progressive change but cautions that Democrats have historically been outmaneuvered, bought out, or divided once in office.

The column highlights a "What's Next" conference hosted last week in Denver by Majority Democrats, which the author describes as an invitation-only event for newly elected Democrats. According to the author, Majority Democrats is mainly financed by hedge-fund billionaire Steve Mandel, and political consultants, described as lobbyists, attended. The author states that no labor leaders, civil rights, environmental, or Black or Hispanic leaders were invited.

The author lists Wall Street lobbyists, crypto, AI, AIPAC, corporate PR and law firms, CEOs, and billionaire technology figures among the forces he says are restarting their political operations. He characterizes groups such as Third Way as corporate and Wall Street-backed moderate organizations that, in his view, seek to preserve the current distribution of wealth and power. The piece does not present independent verification of these financing or attendance claims.

The author argues that sustained public pressure is necessary for elected officials to deliver on campaign promises and calls on supporters to prepare for the new Congress, which is sworn in January 3, and for new governors and state lawmakers. He also backs Senator Chris Van Hollen over Senate Democratic leader Chuck Schumer, whom he describes as too long in office and too close to Wall Street.

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Sources

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AlphaMaven summarised this story from the reporting below. Each link opens the original article.

Alternet The secret hedge-fund conference already courting newly elected Dems