Weisel is a well-known political donor in California, where he served as a major fundraiser for former Governor Pete Wilson. One of the biggest Republican donors in the Bay Area, Weisel wrote a check for $250,000 to the GOP's state elections fund last year.

At the federal level, Weisel gave $5,000 to Friends of Newt Gingrich, a political action committee that raises money through direct mail and supports GOP candidates in the Gingrich mold. He is also a backer of Empower America, a conservative think tank run by former Housing and Urban Development secretary Jack Kemp. Buyout specialist Theodore Forstmann (No.210, $251,000) is the founding chairman of the group, which has supported a tax cut larger than the $1.6 trillion proposed by President Bush. Weisel, who once served on the board of Empower America, invited Kemp to sit on the board of his company.

Privatizing a portion of Social Security, another position supported by Kemp and Empower America, could one day be profitable for merchant bankers like Thomas Weisel. Not only could such a plan bring millions more Americans into the stock market, but it would provide an even greater incentive for politicians to support Wall Street-friendly policies, lest their constituents' retirement funds go south. Privatization could also provide billions of dollars in potential commissions for brokers like Weisel, if he is able to maneuver his firm to manage the public money.