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backtoblue

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6. Why Yale Should Shun Blackstone CEO Steve Schwarzman

Reply to backtoblue (Original post)

Tue Jun 23, 2020, 09:24 AM

Jun 2020

Last edited Thu Aug 6, 2020, 11:36 AM - Edit history (1)

Why Yale Should Shun Blackstone CEO Steve Schwarzman

https://www.democraticunderground.com/100213639280#post5

Snip

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.

Snip

(Hat -tip to still one)

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

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