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Forum Post: Resurrecting Ayn Rand: Hedge Fund Money Teams Up With Koch & BB&T

Posted 2 years ago on Feb. 28, 2012, 3:46 p.m. EST by GirlFriday (17435)
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While it has been well known that the oil billionaire, Charles Koch, has been funneling tens of millions of dollars through his foundation into economic programs at public universities and mandating approval of faculty and curriculum in some instances, it has not heretofore been reported that a sweeping partnership in these programs has sprung up between Koch and the southern banking giant, BB&T, the latter corporation mandating that Ayn Rand’s book Atlas Shrugged is taught and distributed to students.

Through ARI’s assistance, Ayn Rand’s ideas are taught and studied at more than 50 of America’s most influential institutions of higher education, including: Clemson University, Duke University, University of Virginia, University of Texas at Austin, University of Pittsburgh, University of North Carolina at Chapel Hill, Brown University, University of Kentucky, University of South Carolina, University of Florida, University of West Virginia and Wake Forest University.”

....he key speakers included Dmitry Balyasny of the hedge fund, Balyasny Asset Management, as well as Colvin, also from this hedge fund and creator of the New York chapter of the Ayn Rand Institute. Another key speaker was Scott Schweighauser, partner and chief investment officer of Aurora Investment Management, L.L.C., a fund of hedge funds managing approximately $10 billion.

The biggest donors at the event who would allow their names to be published, included the following:

$50,000: Balyasny Asset Management

$25,000: Christopher (Chris) Asness, managing principal and co-founder of hedge fund AQR Capital Management. Asness is a former managing director at Goldman, Sachs & Co.

$25,000: Eric Brooks and Jeff Yass of hedge fund and private equity firm Susquehanna International Group.

$25,000: Jim Brown of hedge fund, Brandes Investment Partners.

$25,000: Scott Schweighauser of fund of hedge funds, Aurora Investment Management, L.L.C.

There are two simple words that sum up why hedge funds would be bankrolling the resurrection of a woman who’s been dead for thirty years: Dodd-Frank, the financial reform legislation that Wall Street is desperately trying to kill.

Read way more here: http://www.counterpunch.org/2012/02/28/resurrecting-ayn-rand-hedge-fund-money-teams-up-with-koch-bbt/

10 Comments

10 Comments


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[-] 3 points by Puzzlin (2898) 2 years ago

"But all of Rand's heroic capitalists( triumph in industries that are now dead or bleeding. It's easy to write potboilers that posit sharp moral distinctions between the makers and takers when you live in a big-shouldered factory world where people still make things."*

Laura Penny, More Money Than Brains, (2010) p. 15

Very Good Post GirlFriday.

It's seems that selfishness lives on in memory of this Horrid Woman. I see why it would appeal to greedy money grubbers. They care about the money, screw the people part.

[-] 2 points by GirlFriday (17435) 2 years ago

Thanks, Puzzlin. Love the Penny quote.

I think that the attempts to indoctrinate kids is pathetic. Secondly, I have no idea how it is that they can get away with a book of that nature and calling it literature. It really is that badly written.

[-] 3 points by Puzzlin (2898) 2 years ago

That's worst part. We have important things to do in life and if we spend time discussing what the dim-wits are talking about we'll miss the boat. Life is short.

Of course, when you realize these truths about things, it does help answer why the world is the way it is. Unfortunately you'll also notice, as it is, your stuck and it's humbling to know you won't move too far. But, like you, and me, and many here, we will be heard, and if we could find our way out of this pinch, we would. Maybe a break through some day. So, we keep moving forward and shine a light to see.

Good Job GirlFriday, nobody who knows the truth, ever gives up this fight!

The Puzzler

[-] 1 points by GirlFriday (17435) 2 years ago

Thank you, Puzzlin!

[-] 1 points by Puzzlin (2898) 2 years ago

Your the best, glad your on the case ; )

[-] 0 points by Perspective (-243) 2 years ago

Truth is relative and quite often at odds.

[-] 2 points by Puzzlin (2898) 2 years ago

Well, since I really don't think any of us know the absolute truth just like absolute perfection escapes, then it will always be relative to us. Yes, quite true it's realtive.

But here's the rub, it can be subjectively relative or it may be objectively relative. It's one or the other, but not both. The objective truths we all participate in since we are human are those little things like eating, drinking, breathing oxygen to survive, and not getting smashed by mack trucks. Subjective are things like you believe you have to pray to Jesus every night or he'll take your soul away to give it to the devil to keep. Forever.

Truth is extremely important to us, some of those truths are more than others, to our survival,,,,,,wink, wink.......Perspective, perceiving?...............

[-] 2 points by bensdad (8977) 2 years ago

rand appeals to billionaires
see who appealed to rand -
google "ayn rand william hickman"

[-] 1 points by GirlFriday (17435) 2 years ago

All Economics and Finance majors receive a copy of Atlas Shrugged in Intermediate Price Theory (a required course for both majors ). Professor Hobbs teaches a course employing this text – ECP 3009: The Moral Foundations of Capitalism – as part of the BB&T gift. The book has also been given to a number of other students who show an interest and to students who wish to give a copy to a friend or family member.”

Indoctrination.

[-] 0 points by shield (222) 2 years ago

Anyone who's read Ayn Rand's works knows that she was vehemently against a currency backed only by government force (and indeed, the very idea of using government force for anything other than retaliation against violations of right) and would have in no way endorsed any agency advocating such a currency. What foundations which proffer her books advocate or who they host as speakers, she has no control over, as she is dead. Her works are now what they always were, no matter who may try to twist or turn their meaning to suit their own needs.