Wednesday, October 24, 2012

Central Park Conservation: At What Price? (Naked Capitalism)

Paulson Gift Slide
Hedge fund manager donates $100M to Central Park in largest gift ever New York Post. 

Debra C via e-mail:

So John Paulson, the man who made billions shorting RMBS’s that he chose to fail, is donating 100 million dollars to the Central Park Conservancy. For plutocrats, it’s a twofer or threefer. Underfund the public sphere, like funding for parks for everyone. So that they fall apart. Create a private entity like the Conservancy so that private persons can come to the rescue of the foundering public enterprise. Destroy the public sector through undertaxation and then have the private one ride to the rescue of the incompetent and inefficient public sector.

They get lots of social kudos for doing “good” and also get to prove once more the utter uselessness of government and public ownership and control of public space.

In THIS case, though, how the donor got rich enough to give away $100,000,000 has a bloody trail that might be uncovered.

Because Paulson didn’t give 100 million dollars. The people and institutions he scammed with his scheme THEY gave 100 million dollars.

Read Full Post and More HERE

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