Wow. Just, wow:
The indictment should spark a larger conversation. As we know, many of the central players in impact investing, while helping others, actually increase their share of the global pie every year. Their power grows more, not less, concentrated. They do really well by doing good.
— Anand Giridharadas (@AnandWrites) March 13, 2019
Read the whole thread on Twitter. It’s about how one of the indicted people is a super-rich do-gooder named Bill McGlashan, who started an investment fund with Bono, dedicated to throwing investment capital behind good causes. More about McGlashan and his role in the bribery scandal here. Giridharadas writes:
McGlashan even agreed to a ruse in which the scammers would photoshop an image of his son onto the head of an athlete, to make colleges think that the boy was good at sports. If you read this story, you’ll read that McGlashan was recorded by the FBI telling the scam-runner how much all this needed to be kept away from his son. The boy was not to know how his Daddy was rigging the system for him. He had to believe that he made it to college on his own. Excerpt:
McGLASHAN: Now does he, here’s the only question, does he know? Is there a way to do it in a way that he doesn’t know that happened?
CW-1: Oh yeah. Oh he–
Several times he does this.