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५७ टिप्पण्या:
he’s “deeply sorry this very difficult situation may interfere with the work to which I have devoted my life.” He added that “there are aspects of the story that have yet to emerge that I wish I could share.
Unless those details include ‘I didn’t do it’ they don’t matter, you ethics investor asshat.
Ah, Bono, the tax avoider and miserly.
John Kerry is on the board of TPG, in case anyone’s wondering.
First - U2 is the most over rated band in history.
Impact investing. That’s the buzzword for targeting money at investments that can drive social and environmental change, as well as make a profit. What's this you say? Make a PROFIT?
At some point, Bono, you've made enough money. Why don't you give it to a real charity instead?
It's funny - with all the money concentrated in the entertainment industry - billions - trillions of dollars - WE never hear about a single problem that's been solved with their so-called charity.
The ultra wealthy preening lecturing ivory tower entertainers want YOU to spend YOUR money on charity. They really never do much with their vast wealth, do they?
What we really need is a firm called "P Analytics" for holding progressives accountable “every day with every deal, in a way that allows us to, with substance, actually measure the output.
“I was a bit taken aback that the founder of the Rise Fund was one of the parents named (and recorded) in the admissions scandal,” said one investor in the private fund, who asked not to be identified. “He is the king of socially responsible, ethical investing, but like most of these folks . . . it’s ‘Do as I say, not as I do.’ ”
Here's a feel for the kind of investments made by the Rise Fund, which has performed well, according to the investor. Brava is the maker of a “smart” oven that dramatically reduces energy use. Lead School is an Indian company that provides a “school in a box” designed for underserved communities. And Cellulant is a Kenyan company that provides digital payment services.
McGlashan joined TPG, a big private equity firm, in 2004, and he made his name and a ton of money by investing in fast-growing companies like Uber and Airbnb. His TPG Growth Fund became a powerful force in Silicon Valley.
But McGlashan has spent the past few years focused on the Rise Fund. He was in the process of raising $3 billion for a sequel fund — until the admissions scandal broke.
TPG, which oversees $103 billion in assets, told me that it fired McGlashan Thursday, after earlier putting him on indefinite leave. McGlashan, according to The New York Times, says he resigned before he was terminated...
McGlashan is a “key man” for the Rise Fund, but his firing/resignation doesn’t trigger provisions that would allow investors to ask for their money back. However, TPG will allow investors who committed to the Rise Fund II to withdraw if they want to.
In January, McGlashan and Bono unveiled Y Analytics, a firm that will use metrics for assessing the impact of impact investing.
“Impact historically was more of a good intention,” McGlashan told CNBC. But Y Analytics aims to hold the Rise Fund and other investors accountable “every day with every deal, in a way that allows us to, with substance, actually measure the output,” he added.
Accountability. Yeah.
McGlashan was all about positive returns on ethical investments. It's too bad he set ethics aside when it came to investing in his son's education.
There isn't an admissions scandal. They can admit anybody they want.
BB&H said It's funny - with all the money concentrated in the entertainment industry - billions - trillions of dollars - WE never hear about a single problem that's been solved with their so-called charity.
Well, technically; that's Not True.
The two problems addressed are both solved: tax burdens reduced, and social standing increased
If you're not highly qualified, you have to pay more to get in.
You're more of a load on the system.
gilbar - we're talking charity.
Once the IRS starts poking around the charity/tax write-off portion of this scam, it could get interesting. But then these people are are all Dems, aren't they?
Bring Lois Lerner out of retirement and all will be good.
Fen's Law.
It's not a theorem.
It's an immutable law.
Is Bono a stealth Mexican name like Beto?
"Try Bono! It's a floor cleaner, a peanut wax and much more! Beats Automatic Barf 2 to 1!"
WE never hear about a single problem that's been solved with their so-called charity
This is a big issue amongst many wealthy families. Big financial contributions see very little ROI. The money ends up sloshing around in an ever expanding industry of virtue oriented NGOs run by victims study majors.
One well known early tech investor privately said to us recently he didn't want his personal wealth ending up supporting 'liberal' causes. We've been noodling on that one as we'd had to exclude major swaths of charitable avenues. Most of them, in fact...
Can the mainstream media continue to ignore the drip-drip-drip that most of the people caught up in this are Democrats?
Yes.
I can understand the actors not understanding the donation avenues but It confuses me why someone with the financial savvy of McGlashan would forego the traditional build a library route in favor of this. Perhaps it is just the liberal joy of rules for thee but not for me...
On local Christian church gathers funds to send to the most devastatingly poor country in Africa - Malawi. Some of the members will travel there as well. They send what they can to help a small village with water and crops.
Someone like Bono could drop millions. Make a huge impact. Nah - he's got western social engineering on his mind.
I detest U2 - the entire band.
Can the mainstream media continue to ignore the drip-drip-drip that most of the people caught up in this are Democrats
Given how it's almost all lefties I'm surprised the media hasn't coordinated the Trump is targeting liberals with government resources angle.
Maybe give them some more time...
There's nothing novel about ethical investing. You can buy shares of many mutual funds with portfolios with investments that avoid your particular taboos -- liquor, tobacco, gambling, defense industry, oil industry, etc. If you're Muslim (or even if you're not), you can invest in funds that avoid bank stocks and pork producers, as well as the industries mentioned earlier. And most of these funds are good investments for any investor.
If you want to go the other way, there's the USA Mutuals Vice Fund Investor Class Shares (VICEX:NASDAQ), which is a convenient vehicle for investing in everything sinful.
All sorts of funds for all sorts of investors. What a country!
Bono is always good for a laugh. I think he has designed his persona to be the Catholic Heyoka, the rich holy clown that signals virtue in all sorts of directions. But unlike Al Gore, Bono isn't as tendentious and isn't at all bitter. I think Bono loves all kinds of people and distrusts politics generally. May he live long and prosper.
I'm unaware of any Republicans caught up in this, but there could be. Doubt if any conservatives are.
Someone like Bono could drop millions. Make a huge impact. Nah - he's got western social engineering on his mind.
That a$$ is who finally made me wake up about all this.
He flies around the world, because “he cares” and hit up governments for money and takes the credit.
It was water wells for Africa that did it. He was asking W for help because this African country needed wells NOW it was VITAL! SOMETHING needs to be done! PEOPLE ARE DYING!
The cost was $1 million a well, they needed 24 of them.
I thought to myself, why don’t you get 23 of your rich friends to chip in, you’ve got 3 very wealthy band members. It’s done. No hassle, bureaucracy. Nope. Can’t have that.
I should have learned the lesson from Live Aid and didn’t. I still sing the song, but lmao at my own stupidity and unselfawareness.
A few of them gave money to Romney committees, but also gave to the other side. Not many of them, though: Flaxman, Caplan, Loughlin, a few others...
The creatures outside looked from pig to man, and from man to pig, and from pig to man again; but already it was impossible to say which was which.
Most leftwing entertainment snobs are all Clinton Foundation types. Phony frauds.
Whatever happened to the gentleman's C? In my day, the scions of the rich would devote far more time to sports, sex, and socializing than to academics. They would judiciously study enough to pass, but they didn't get carried away with that scholarship crap. Properly so. Our society depends on the children of the wealthy being genial and good natured rather than grinding and virtuous. Prince Hal, Si! Cromwell, No!
Moral hazard: as buckling your seatbelt or wearing a helmet could encourage more reckless driving or riding, being professionally virtuous gives one leave to be a scumbag in their personal dealings.
I’ll gladly take mostly true.
If you are wealthy but not a billionaire and you want to do something positive in the US, may I suggest giving large sums to your local Catholic parochial schools, in NY, Los Angeles, San Francisco-Bay Area, and other large cities, or to the parochials of those cities if you don't live in one. Each 5-7K lets them take another poor child out of the public schools for a year. I can't think of a charity that would have a better payoff long term.
If you have billions I suggest investing in alternate media.
Buwaya. Indeed #
Giving to parochial schools, churches and colleges is a great idea and money well spent. Bonus - the leftwing totalitarians HATE it.
OT: Tucker digs into Media Matters Founder - and finds out he's a total creepy racist. Schadenfreude. yum.
Angelo Carusone - Media Matters leftwing totalitarian speech police hypocrite.
LOL
Blogger William said...
Whatever happened to the gentleman's C?
It is now an A unless you are some middle class schmuck. The rich buy their way in and take safe nothing classes. Nobody cares what their major was because that is not how they will make money. Blacks take African Studies and get As get jobs in HR departments.
None of those people take Engineering. Some are now taking "Engineering Education"and this is a scary example of the camel's nose in the tent.
People who tout their own ethical or religious views are crooks. It’s the easiest tell.
Honest people don’t tell you they are honest.
Religious people are humble.
Giving to parochial schools, churches and colleges is a great idea and money well spent
Improving inner city education is a great idea but its not without problems. The biggest being scalability- you run out of places to put money. If you look just at Los Angeles there's 650,000 public grade school kids but 50+ Catholic schools- too many kids and not enough space. The diocese has its own priorities, like serving worshippers vs usurping public education. Money that goes to the diocese is fungible. etc. etc.
Many donors are big fans of KIPP. The challenge there is competing with the teacher's union and their entrenched political interests. Now you're back to the ROI problem- throwing money at PACs...
There isn't an admissions scandal. They can admit anybody they want.
They hoodwinked the admissions department AND didn't pay off the development office. The colleges were screwed twice.
Ethical investing. I looked at some of these sustainable portfolios, and every single mother fucking one of them has Apple, Inc. People are fucking morons.
The admission scandals were just an appetizer, or an aspiration to satiate the people before the main course.
It's still ethical. Ethics is a circumstantial (e.g. Pro-Choice) or relative behavioral standard. Ethics is a lightweight religious/moral philosophy with "living" boundaries.
carusone, was also vp finance at the dnc, for those who pretend he's just a 24 year old punk, then we have the fund behind fusion gps with contributions from hastings, Pritzker, Schultz and co,
"Ah, Bono, the tax avoider"
He's not dumb.
“If you are wealthy but not a billionaire and you want to do something positive in the US, may I suggest giving large sums to your local Catholic parochial schools, in NY, Los Angeles, San Francisco-Bay Area, and other large cities, or to the parochials of those cities if you don't live in one. Each 5-7K lets them take another poor child out of the public schools for a year. I can't think of a charity that would have a better payoff long term.”
I agree. My two youngest went to Catholic schools from elementary through high school, they received a stellar education.
And most of these funds are good investments for any investor.
Why invest in ANY fund that looks at a good chance for a strong, legal return and says, "Nah, we don't invest in..... Instead we'll get you a lower return outside of ...."?
Hillsdale College, and perhaps 2-3 others, can admit anybody they want, RHHardin. Hillsdale is not involved in this scandal AKAIK.
That's because they don't take any federal money.
When you drink the king's shilling....yadda, yadda, yadda
These colleges take federal money and the feds have a bunch of rules about admissions. Whether they should or not is another issue. They do have them and schools must comply.
There also might be fraud issues. If they say they select one way but then take people under the table, so to speak, that is fraud on all the others who are applying and who are paying for the privilege of applying whether accepted or not.
FTC might have a role to play here.
John Henry
Blogger Humperdink said...
Once the IRS starts poking around the charity/tax write-off portion of this scam, it could get interesting. But then these people are are all Dems, aren't they?
But the IRS is solely under the control of the Executive Branch. Donald J Trump, Prop.
This is just one of many reasons why this class of people is so violently (yes, violently) opposed to PDJT.
If he really comes off the ropes and starts enforcing this stuff, folks are going to jail.
And perhaps he is ending the rope-a-dope and this and SPLC (and some other things) are the start of something really good.
One can hope.
As someone else said, jail time is needed. Fines? Just a cost of doing business and no biggie. A year or 2 in quod? That would be felt. Do that a dozen or so times and we will see all sorts of people coming out of the wordwork confessing to crimes we didn't even suspect them of but that they are guilty of.
John Henry
Get an index fund, give to charities, and fire your "ethical" advisor.
Bill Gates has an interesting approach to charity. 1) He wants to die broke 2) He doesn't believe in most of the charities, though he does support some.
His big charitable expenditures have been education and malaria.
He admits that education has been much harder than he had thought and his tens (hundreds?) of millions spent has not done much good.
It has been estimated that 25 to 50% of all human deaths ever have been caused by malaria. It is largely eliminated in the 1st world but kills or debilitates hundreds of millions every year in 3rd world countries.
It was long thought that a cure or a vaccine was impossible. 97% of doctors agreed! Gates thought "Bullshit. I'll bet we can do something." Largely because of him we have a vaccine and, largely because of him we have some cures. Still long way to go but he at least took the first steps and put his own money where his mouth was.
He is also actually doing something to combat atmospheric CO2. Something that will make a difference unlike all the politicians and activists with their hands in the till. Hopefully he will make some money too.
He is aggressively funding new nuclear power technologies. He is doing it in China because of the regulatory issues in the US. Basically you can't.
That is on hold for the moment because of the trade war war but that will get cleared up shortly.
In the meantime, China has started up a bunch of reactors on their own:
As of March 2019, China has 46 nuclear reactors in operation with a capacity of 42.8 GW and 11 under construction with a capacity of 10.8 GW.[2] Additional reactors are planned for an additional 36 GW. China was planning to have 58 GW of capacity by 2020.[3] However, few plants have commenced construction since 2015, and it is now unlikely that this target will be met.[4]
Nuclear power contributed 3.9% of the total Chinese electricity production in 2017, with 247 TWh.[3]
China ranks fourth in the world in total nuclear power capacity installed, and third by nuclear reactors in operation. Around one tenth of global nuclear power is generated in China.
https://en.wikipedia.org/wiki/Nuclear_power_in_China
They are happy to have Gate's money. I'd be happier if he could spend it here.
Safe, clean, cheap energy. What's not to like? Other than that it is there, not here.
John Henry
I’m dead certain we can count on *BM to identify all the folks who benefited from this scam. And who their political contributions went to.
*You know what BM stands for.
His partner? So Bono is Gay?
Blogger Inga...Allie Oop said...
I agree. My two youngest went to Catholic schools from elementary through high school, they received a stellar education.
Inga and I don't always disagree.
My two went to Colegio Santiago Apostol in Fajardo K-12. They too got a stellar education.
Not just academics, though those were certainly good. They got a stellar education in how to be good, responsible, ethical human beings. That has served them well over the past 25-30 years.
I'm not talking about the religious component, though that did not hurt. There just wasn't that much of it. I'm talking about things as simple as not throwing trash on the ground, helping others, paying attention in class and the million and one other life lessons that kids need to learn.
John Henry
Blogger BleachBit-and-Hammers said...
"The ultra wealthy preening lecturing ivory tower entertainers want YOU to spend YOUR money on charity. They really never do much with their vast wealth, do they?"
You'd think, with all the virtue signqling, Danny Glover and Sean Penn would be in downtown Caracas handing out candles and porkchops.
Boy, October, War, The Unforgettable Fire, and Achtung Baby are great. The Joshua Tree is the most insufferably overrated album ever.
"The Joshua Tree is the most insufferably overrated album ever."
It's good. But War is their best work, imho.
I don't know why, but I keep reading that last line as "Deadwood Hollywood".
"These colleges take federal money and the feds have a bunch of rules about admissions. Whether they should or not is another issue. They do have them and schools must comply. There also might be fraud issues..."
I don't know if you've seen "The Big Short", but I had a scene much like the one where they walk around in Florida to get a sense of what's really going on the housing industry:
https://www.youtube.com/watch?v=MesrrYyuoa4
...look at student loans. I was told the process is that the government sends back a loan amount they project the student will be able to afford.
Now, I once found some solace that, despite all the nonsense going at our universities, the market would punish those who bloated their staff with SJW administrators who's only purpose was to indoctrinate left-wing ideology.
But now I see that will never be allowed to happen. The Deep State has every incentive to offer student loans for any amount to anyone who will sign - because the money is needed to keep the indoc centers open and the Long March alive.
And when there is a massive default on student loans, guess who will bail them out? Yup, exactly like the mortgage crisis.
So, in the spirit of communism, we are going to pay for the bullet used to execute us.
Considering the music genre at the time, Joshua Tree was a transcendent album. For better or worse.
3 albums I listen to , cover to cover. That is one.
What?
Progressives are full of shit and don't practice what they preach?
It must be a day that ends in "y".
I find it funny that the Globe would refer to this man as "Bono's partner" -- is he not his own person? Bono, love him or loathe him, has nothing to do with this scandal.
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