Following is the statement of Democratic Party of Wisconsin Chair Mike Tate in response to the announcement that Washington hedge fund manager Eric Hovde is entering the Republican race for Senate nominee.

"The economic pain being felt right now by middle-class families is foreign to super-rich bankers and hedge fund managers like Eric Hovde, no matter how cynically he goes through the motions. Wisconsin doesn't need a multimillionaire carpetbagger trying to buy a seat in the U.S. Senate by trying to trick working families into thinking he somehow understands their struggle."