Sean Eldridge is a 21st-century feudalist. After marrying Chris Hughes, who earned hundreds of millions of dollars for developing the Facebook “poke” button, Eldridge and his husband set out in search of a fiefdom from which to launch a Congressional bid. After a couple false starts, they eventually settled on New York’s 19th district, where Eldridge is currently trying to unseat incumbent Chris Gibson (R., N.Y.), a lifetime resident of the district.
After purchasing a suitable mansion in the district, Eldridge used his husband’s money to start Hudson River Ventures, an investment fund that focuses on local small businesses. He provides money, shelter, and protection to his adopted vassals, asking only for political allegiance in return.
The Register-Star reported Wednesday that Eldridge’s firm has just made a $100,000 investment in an agriculture center in the small town of Copake:
Sean Eldridge, the 26-year-old spouse of Facebook “poke” button pioneer Chris Hughes, has had a rough week.
THE POLITICO recently published a damning report on Eldridge’s strange reluctance to engage with the media. He faces mounting criticism over his efforts to unseat incumbent Representative Chris Gibson (R., N.Y.), a decorated war veteran and lifetime resident of the district he serves. Eldridge has lived there since 2011 in the $5 million Hudson River Valley estate Hughes bought to facilitate his husband’s political ambitions. “Eldridge” is the top donor to his own campaign (at least $700,000 and counting), and takes money from his billionaire friends while decrying the influence of “special interests” in politics.
Philmont, N.Y. resident Ed Fertik is not impressed. Fertik authored an epic letter-to-the-editor for the Register Star on Friday, in which he describes the “elitist” Eldridge’s campaign as “one of the most disgusting political maneuvers we could ever witness here in Columbia County.”
Via Matt Welch, here is a fascinating story about rent control and bankruptcy. There is much pulling of the heartstrings by New York Times reporter Mireya Navarro and it’s clear how Navarro and the newspaper come down. I’m going to ignore the emotional blackmail* and instead focus on the relevant facts:
Two years ago, [Mary Veronica Santiago] took refuge in bankruptcy, hoping to have her debts wiped away. … The issue, pending before the United States Court of Appeals for the Second Circuit, is whether a rent-stabilized lease can be treated as an asset in a personal bankruptcy, just like a car or a piece of land, and used to pay off creditors. …
Mrs. Santiago has lived for 50 years in a two-bedroom apartment near Tompkins Square Park, in a neighborhood where unregulated apartments rent for thousands more a month than Mrs. Santiago’s rent of $703. Her main income is a Social Security check and, under normal bankruptcy proceedings, her lawyers said, she would have avoided repaying the $23,000 she owes because she had no assets. …
But as her case was nearing conclusion, her landlord stepped in with an offer to buy her rent-stabilized lease and produce the funds to pay off her debt. …