Home > Uncategorized > This Just In: Mysterious Massachusetts Hedge Funder LOVES Disasters Like Hurricanes… And “Failing Schools”

This Just In: Mysterious Massachusetts Hedge Funder LOVES Disasters Like Hurricanes… And “Failing Schools”

Last week, an Alternet a compelling post by blogger Jeremy Mohler connected the dots between a mysterious Massachusetts hedge fund operator named Seth Klarman, profiteering on the indebtedness in Puerto Rico, and charter schools. The post opened with information on the contributions the formerly low profile hedge funder made to the campaign to institute more charter schools in Massachusetts. It seems that Mr. Klarman personally donated more than $3.3 million to the campaign while his firm, the Baupost Group, donated another $376,00.

But Mr. Mohler also found that Mr. Mohler had is fingerprints on another means of profiteering: buying bonds to cover the debt in Puerto Rico. How much does Mr. Mohler have invested in debt? $911,000,000. Needless to say, Mr. Mohler does not want to see the debt waived for Puerto Rico so that they can get back on their feet again…. and he clearly DOES NOT care about whether the schools are open on the island since 184 of them were closed to pay for bondholders’ debts.

The article underscores the fact that public services and profits do not mix….

 

 

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