Government and Politics
July 19, 2024
Keystone: Dave McCormick Invested In Chinese Fentanyl Before Wanting To Ban It During Campaign
PENNSYLVANIA - Philadelphia city Councilmembers Mike Driscoll, Jim Harrity, and Quetcy Lozada slammed David McCormick’s record of investing over a million in the biggest fentanyl producer in China.
“David McCormick put profits over the thousands of Pennsylvania families who have been devastated by the fentanyl epidemic across the Commonwealth – from my community in Kensington all the way to Erie,” said Councilmember Mike Driscoll. “McCormick has only ever looked out for his own bottom line without regard for the terrible costs his investments have had on Pennsylvanians.”
“It is beyond disqualifying that David McCormick has profited from investments in China’s largest fentanyl producer while Pennsylvanians suffered,” said Councilmember Jim Harrity. “David McCormick must answer to Philadelphians and Pennsylvanians on his record of putting his profits ahead of our communities.”
“David McCormick’s investments in China’s largest fentanyl producer – at a time when fentanyl is devastating our city and our Commonwealth – is problematic and shows that he does not have any true interest in any of our communities suffering through the opioid crisis,” said Councilmember Quetcy Lozada.
Read More About McCormick’s Record of Putting Profits Over Pennsylvanians:
As CEO of the world’s largest hedge fund, David McCormick invested in the biggest fentanyl producer in China.
-- McCormick led Bridgewater Associates, the world’s largest hedge fund, while it invested nearly $1.7 millionin China’s largest fentanyl producer.
--- China is the source of the vast majority of the fentanyl that Mexican drug cartels traffic into the U.S.
- The same year McCormick made these investments, fentanyl killed more than 4,000 Pennsylvanians and fentanyl seizures in Pennsylvania increased by 346%.