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still_one

(92,061 posts)
Tue Jun 23, 2020, 06:27 AM Jun 2020

With the events of the several weeks, I think this article from 2017 shows what we are up against

"Why Yale Should Shun Blackstone CEO Steve Schwarzman

When Yale announced a $150 million donation from alumnus and plutocrat Stephen Schwarzman last year to convert its historic Commons and Memorial Hall into the “state of the art” Stephen A. Schwarzman Student Center, an undergraduate, Nathan Kohrman, penned a, deft summary of the man’s arrogant blundering through the American public sphere that the college has long cherished and nourished:

“What about Schwarzman —other than his estimated $10 billion fortune — does Yale find appealing? Surely not his belief, as of October 2015, that Donald Trump’s ‘political incorrectness’ makes him ‘good for democracy.’ Surely not his 2011 suggestion to raise taxes on the working poor because ‘skin in the game’ might make them work harder. Surely not his view that a 2010 bipartisan effort to close a private equity tax loophole — from which Schwarzman personally profits — was ‘like when Hitler invaded Poland in 1939.’ Surely it is not his prominence at the Koch brothers’ donor summits, where he’s donated undisclosed millions to political organizations that have cannibalized the GOP establishment and paralyzed the Obama administration.”

.........

Kohrman’s remonstrance received only passing attention, but it merits urgent re-reading and distribution now that Schwarzman is chairing President Trump’s business advisory council. Fellow billionaire Michael Moritz’s characterization of him last week in The New York Times as one of Trump’s “Goodfellas” is only one of the reasons.

......

Blackstone has profited from damaging society and the economy by moving in on the home-rental market and shifting its private debt obligations to the taxpayers. As one of the largest owners of rental homes in the country, with nearly double the average eviction rate, Blackstone has been transforming the homes into CDO’s (debt obligations — mortgages, bonds, and other loans pooled as speculative investments for Schwarzman). This is virtually the tactic that engineered the Great Recession. Thanks to Schwarzman, the federal Fannie Mae is underwriting the Blackstone project.

......

But better yet, Yale should correct its blunder now, not 75 years from now, as it did this year in deciding to stop memorializing its alumnus John C. Calhoun, American slavery’s most ardent and powerful defender, in a Yale residential college that had been named for him in the 1930s.

https://washingtonmonthly.com/2017/02/17/why-yale-should-shun-blackstone-ceo-steve-schwartzman/

Most of us are well aware that we should NOT be duped into complacency by the polls. There is a lot of dark money behind trump and the republicans.

Not everyone in Wall Street is behind trump, but quite a few are, and a lot of money is going to be thrown from them toward trump and the republicans

In 2018 we demonstrated that we could take back the House

There is no doubt in my mind that they are going to try and disenfranchise voters by closing polls in Democratic district. The only way to overcome that is to get voters registered, and encourage them to either vote by mail if it is available, or vote early when it is available. That is the only way we are going to beat these draconian assholes

If we can take the WH and both houses of Congress, we can start to take the power away from the few, and give it back to the people







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With the events of the several weeks, I think this article from 2017 shows what we are up against (Original Post) still_one Jun 2020 OP
Billionaires buying institutions Chiquitita Jun 2020 #1
Thanks for posting this. secondwind Jun 2020 #2
K&R Auggie Jun 2020 #3
Definitely a keeper. calimary Jun 2020 #4
More on Schwarzman - RDIF backtoblue Jun 2020 #5
Thanks still_one Jun 2020 #7
Do you mind if I add your OP ? backtoblue Jun 2020 #8
Please do, I appreciate it still_one Jun 2020 #9
If the rich can't buy anything with their money... dreamland Jun 2020 #6
Thanks, still_one. brer cat Jun 2020 #10

Chiquitita

(752 posts)
1. Billionaires buying institutions
Tue Jun 23, 2020, 06:56 AM
Jun 2020

and increasing their power. Thanks for such a clear explanation. Posts like this are what I read DU for.

dreamland

(964 posts)
6. If the rich can't buy anything with their money...
Tue Jun 23, 2020, 08:32 AM
Jun 2020

...It would be better for the country. Maybe if institutions can only accept anonymous donations, then no one can be beholden to these people. Maybe the 1% will stop trying to amass greater fortunes when their money has no meaning except to buy themselves stuff and who needs ten homes? Maybe then we'll see real philanthropy.

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