Tom Steyer: I am absolutely nothing at all like the Koch brothers

posted at 1:21 pm on April 23, 2014 by Erika Johnsen

Do I have any issues with a Tom Steyer using any of his legitimately earned billions of dollars to donate to political causes, candidates, campaigns, and super PACS in which he believes? Absolutely not. Do I have a problem with Tom Steyer smearing other billionaires for doing so, funding a perniciously targeted misinformation campaign full of flat-out falsehoods against the Keystone XL pipeline, and pretending that he has some sort of imagined moral high ground in this arena? Yes, yes I do. Via Politico:

Liberal billionaire Tom Steyer insisted Tuesday that he’s not the left’s version of the Koch brothers. …

Charles and David Koch’s priorities “line up perfectly with their pocketbooks — and that’s not true for us,” Steyer said.

A Koch spokesman objected to Steyer’s characterization.

“That assertion is false and disingenuous, and people can see through that. Koch opposes all mandates and subsidies, even when they exist for businesses in which we operate. In doing so, we act against our self-interest. We have been consistent in this position for over 40 years,” spokesman Robert Tappan said in an email. …

But Steyer countered that there are major differences between himself and the Koch brothers, and he argued that his operation is “completely open” and transparent. “I think they have not been huge embracers of transparency,” he said of the Kochs.

“I think they’re in a very, very different position than me and from the people that I work with. And the fact that we’re on opposite sides of the table on a lot of issues — that is true. But the way that we’re approaching them is very, very different,” he said.

This isn’t the first time Steyer has disclaimed similarities to the Koch brothers, and while I’m sure it must be such a trial to suffer the slings and arrows of comparisons to that dreadfully indecent and un-American duo, the gentleman needs to check himself before he wrecks himself and ends up in the old-men-yelling-at-clouds detachment. I would direct you to some of my old posts here, here, here, and here if you’d like a refresher on just how egregious Steyer’s anti-Keystone XL pipeline crusade really is, but for Steyer to claim that he has never in his life rent-sought and that all of his motivations come only from the pureness of his public-welfare-promoting heart is some mind-boggling hypocrisy. For more on that particular point, I can’t do it any better than John Hinderaker at Powerline, who has some excellent suggestions for the many ways in which Steyer might improve his own transparency record and come clean about the role of the dirty energy he claims to abhor in having earned him his billions.


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Coal billionaire hypocrite!!!

Schadenfreude on April 23, 2014 at 1:26 PM

Liberal billionaire Tom Steyer insisted Tuesday that he’s not the left’s version of the Koch brothers.

True enough. The Koch brothers want less government while the fascist Tom Steyer wants government to rule over us serfs.

rbj on April 23, 2014 at 1:27 PM

Blame this pig for obama’s anti-Keystone take.

It’s all about the obama-libery.

Pay for your own frickin libery.

Pryor, Begich, Landrieu and Hagan, OUT, OUT, OUT!!!

God bless the Koch brothers.

Schadenfreude on April 23, 2014 at 1:28 PM

Steyer is as transparent as the Obama Administration.

GarandFan on April 23, 2014 at 1:28 PM

Where a billionaire marxist hypocrite lives. Never forget.

Schadenfreude on April 23, 2014 at 1:28 PM

Pot….kettle….Democrat

Kraken on April 23, 2014 at 1:29 PM

The hypocrite made his dough in coal.

Schadenfreude on April 23, 2014 at 1:29 PM

he’s right you know….he’s just a Leftist Sh*tbag…

Nothing at all like the Kochs…

ToddPA on April 23, 2014 at 1:31 PM

This is just his ranch, just a getaway.

These types preach “equality” and “save the environment”.

Their footprints are are as big as AlGore.

Schadenfreude on April 23, 2014 at 1:34 PM

TOTALLY different – “I’m white on the left, they’re white on the right”….

dentarthurdent on April 23, 2014 at 1:34 PM

He ripped off people on coal-hedging, then retired a billionaire, who preaches at the world.

Nothing like a leftist thug, never.

Schadenfreude on April 23, 2014 at 1:35 PM

Steyer is as transparent as the Obama Administration.

GarandFan

Exactly.

Gothguy on April 23, 2014 at 1:35 PM

He’s right.

The Koch brothers are doing some good (by supporting smaller government and fewer government subsidies for corporations).

Steyer isn’t doing any good. He’s nothing like the Koch brothers.

Just another typical lefty hypocrite.

AZCoyote on April 23, 2014 at 1:36 PM

The hypocrite made his dough in coal.

Schadenfreude on April 23, 2014 at 1:29 PM

So this is just another case of liberal white billionaire earth Mother Gaia killer guilt….

dentarthurdent on April 23, 2014 at 1:37 PM

“The Koch brothers are plutocrats” — Sen. Pig Schumer

“Tom Steyer, the coal-hedgefund shyster is my here” — any leftist thug, incl. Steyer

Schadenfreude on April 23, 2014 at 1:37 PM

is my here hero

Schadenfreude on April 23, 2014 at 1:37 PM

He reminds me of John Edwards, another lying weasel.

John the Libertarian on April 23, 2014 at 1:37 PM

He is totally different.

The Koch brothers produce valuable goods for people/society.

He ripped off people, on coal-hedgefund-bets, then retired, to preach against coal. One can’t make this up. Leftists are always hypocritical thugs.

Schadenfreude on April 23, 2014 at 1:39 PM

Epic hypocrisy of Tom Steyer.

Schadenfreude on April 23, 2014 at 1:41 PM

The hypocrite made his dough in coal.

Schadenfreude on April 23, 2014 at 1:29 PM

I couldn’t see the connection — is Farallon Hedge deeply vested in coal??

John the Libertarian on April 23, 2014 at 1:41 PM

But Steyer’s hypocrisy goes still deeper. Today, he is a bitter opponent of fossil fuels, especially coal. That fits with his current economic interests: banning coal-fired power plants will boost the value of his solar projects. But it was not always thus. In fact, Steyer owes his fortune in large part to the fact that he has been one of the world’s largest financers of coal projects. Tom Steyer was for coal before he was against it.

Schadenfreude on April 23, 2014 at 1:41 PM

John the Libertarian, again

Schadenfreude on April 23, 2014 at 1:42 PM

Epic hypocrisy of Tom Steyer.

Schadenfreude on April 23, 2014 at 1:41 PM

Woah. What a fraudulent scumbag. He IS just like John Edwards.

John the Libertarian on April 23, 2014 at 1:43 PM

In order to gain an appreciation of the extent of Farallon’s epic involvement in the coal sector under Mr. Steyer’s tenure one needs to spend time in Jakarta and Sydney, and in the regional financing centers in Hong Kong and Singapore, and speak to professionals (bankers, lawyers, mining consultants and principals) who were directly involved in these Farallon-sponsored coal transactions. With a modicum of effort one discovers that since 2003 Farallon has played the pivotal role in financing the tremendous restructuring and growth in thermal coal production in the region. All of this took place under Mr. Steyer’s tenure as founder and senior partner of Farallon.

Schadenfreude on April 23, 2014 at 1:43 PM

John the Libertarian, again

Schadenfreude on April 23, 2014 at 1:42 PM

Thanks, Schad. This is explosive stuff. I’m shocked, but not surprised.

John the Libertarian on April 23, 2014 at 1:44 PM

Weasel tries to ‘wash his hands’…ain’t gon’ happen, dirtbag.

…I have directed my financial team to divest my holdings of coal investments so that I will have a coal free portfolio…

Schadenfreude on April 23, 2014 at 1:44 PM

Mr. Steyer has had a direct, personal involvement in assembling, through Farallon, a portfolio of strategic investments in overseas coal miners and coal fired power plants which is unprecedented in scale. The total quantum of Farallon’s investments in these transactions is not publicly disclosed, but reasonable estimates suggest that it could be between US$1 and $2 billion in total.6 Taken collectively, the coal producers in which his fund has amassed these investment interests represent one of the largest sources of thermal coal in the world;

• The financing provided by Mr. Steyer’s fund enabled these coal producers to restructure and recapitalize thereby freeing them to grow rapidly during a period of rapidly rising coal prices, leading to one of the largest expansions of thermal coal production in modern times7;

• Made during a period of ever rising coal prices, these investments were almost certainly extremely profitable for Mr. Steyer’s fund overall, and my extension Mr. Steyer personally. It stands to reason that few people in American history have made more money from investment in thermal coal than Mr. Steyer.

Schadenfreude on April 23, 2014 at 1:45 PM

Oh, I see Erika had the Powerline money quote linked above.

John the Libertarian on April 23, 2014 at 1:45 PM

Steyer is disingenuous, self-righteous and entirely happy living off crony rent-seeking. This whole show he’s putting on for the world reminds me of the Angelo Mozilo act, back in the days when he was CEO of Countrywide. Later shown to be the fount of fraud that nearly brought down the nation, he got off scot-free by donating lavishly to campaigns and giving Democrat lawmakers sweetheart deals on financings. Steyer is doing the same. Scum of the earth.

MTF on April 23, 2014 at 1:47 PM

I am absolutely nothing at all like the Koch brothers

Yeah, because he actually gets what he wants out of politicians.

Iblis on April 23, 2014 at 1:48 PM

Steyer threatened obama that if he passes the Keystone project he’d withhold obama-library funds.

To Hades with both.

Don’t miss this, unreported for a month…billionaire leftist thugs’ kids to the thuggish White House…then reported by one of the brats.

Schadenfreude on April 23, 2014 at 1:49 PM

obama hates the US workers, the middle/lower classed. NO doubt about it.

Schadenfreude on April 23, 2014 at 1:50 PM

Oh, on so many, many levels he is nothing like the Koch brothers…

ImmigrantsWife on April 23, 2014 at 1:54 PM

obama dines on forbidden tuna sushi.

Schadenfreude on April 23, 2014 at 1:56 PM

Steyer is as transparent as the Obama Administration.

GarandFan on April 23, 2014 at 1:28 PM

…but who is the better liar?

KOOLAID2 on April 23, 2014 at 1:56 PM

Got to love this

Schadenfreude on April 23, 2014 at 1:58 PM

The sad thing is that there are millions of liberal sheeple that believe this guy is going to give $100 million to Dems and get nothing in return.

rmkdbq on April 23, 2014 at 1:58 PM

I’ll beleive the Steyers when they invite the homeless to share their various mansions. Oh, they want to do good for others but at a convenient distance.

georgekaplan on April 23, 2014 at 2:04 PM

Schad, thanks for all the research you do. Saves a lot of time for many folks. HT.

HonestLib on April 23, 2014 at 2:07 PM

Who?

Galtian on April 23, 2014 at 2:07 PM

The only thing worse than a hyporite is a rich hypocrite.

crankyoldlady on April 23, 2014 at 2:20 PM

61% in favor of Keystone pipeline

Schadenfreude on April 23, 2014 at 2:24 PM

Steyer is just another example of liberal hypocrisy. They never see their own faults because they believe they are better than everyone else. But by all means let him waste his money. The faster he burns through it, the faster we won’t have to put up with his puerile crap.

dgolfnut on April 23, 2014 at 2:27 PM

Steyer is financially involved in “green energy” hedges and calls through his fund actions, which makes him financially involved in the political contributions he is making.
I don’t believe the Koch’s have the same type of involvement.

gonnjos on April 23, 2014 at 2:30 PM

Where a billionaire marxist hypocrite lives. Never forget.

Schadenfreude on April 23, 2014 at

With the huge roof on Tom Friedman’s house, where are all the solar panels?

Steve Z on April 23, 2014 at 2:40 PM

Steyer has gzillions in coal holdings, so naturally he’s going to go after other energy sources. Pretty simple.

From the Powerline piece cited above:

The Epic Hypocrisy of Tom Steyer

“Looked at another way, the coal mines that Mr. Steyer has funded through Farallon produce an amount of CO2 each year that which is equivalent to about 28% of the amount of CO2 produced in the US each year by coal burned for electricity generation.”

Akzed on April 23, 2014 at 2:43 PM

Hey Steyer, I’m almost convinced… maybe if you bolster your argument with a few more “very’s”?

LASue on April 23, 2014 at 2:45 PM

Aside from where they reside on the ideological spectrum, the biggest difference between Tom Steyer and the Koch brothers is that the Koch brothers are not seeking rent for their activism.

kozmocostello on April 23, 2014 at 2:49 PM

To be a liberal you must be a hypocrite… The more liberal is your ideology the more hypocrite is to become…

mnjg on April 23, 2014 at 2:49 PM

Of hypocrites…the man you just loves his clan.

Schadenfreude on April 23, 2014 at 2:52 PM

HonestLib, it’s pure schadenfreude.

Y/w, and spread it around.

Schadenfreude on April 23, 2014 at 2:54 PM

Hypocritical pigs of the world, with deep apologies to the clean swine.

Schadenfreude on April 23, 2014 at 3:13 PM

Another hypocritical piggie of the land

Schadenfreude on April 23, 2014 at 3:13 PM

Charles and David Koch’s priorities “line up perfectly with their pocketbooks — and that’s not true for us,” Steyer said.

This sounds like it is straight out of Atlas Shrugged.

Liberals are truly sick in that they don’t look at the act itself. The fact that the act runs counter to an individual’s interest is supposedly worthy of praise.

This is asinine. Sacrifice is not a virtue by itself. The nature of the sacrifice must be taken into consideration.

airupthere on April 23, 2014 at 3:24 PM

Schadenfreude on April 23, 2014 at 3:13 PM
Schadenfreude on April 23, 2014 at 3:13 PM

Some pigs are more equal than others….

dentarthurdent on April 23, 2014 at 3:25 PM

Tom Steyer: I am absolutely nothing at all like the Koch brothers

Of course not. You are the epitome of evil.

Dusty on April 23, 2014 at 3:42 PM

Petition

Denounce and condemn billionaire Tom Steyer

https://www.change.org/petitions/the-american-people-denounce-and-condemn-billionaire-tom-steyer

Katja on April 23, 2014 at 4:02 PM

My friend tells me that Tom Steyer has been pulling the wings off butterflies for the last 10 years.

MikeinPRCA on April 23, 2014 at 5:18 PM

PUKE!! Typical Leftie, got rich with other people’s money.

RdLake on April 23, 2014 at 5:46 PM

Not like the Koch brothers? Means he doesn’t donate millions to charity, build hospitals, etc. What he does is highlight the difference between liberals and conservatives. Talk vs action.

pgrossjr on April 23, 2014 at 7:27 PM

I agree with Steyer, he is NOTHING at all like the Koch Brothers. The Koch Brothers have opposed legislation that would benefit them financially.

crosspatch on April 24, 2014 at 4:39 AM