Steve Schwarzman is worth around $12 billion. He’s the
co-founder, chairman, and CEO of the Blackstone Group, one of the world’s largest
financial firms, specializing in private equity, hedge funds, and mergers. He’s
a Republican. In 2010 Schwarzman told the New Yorker, “I don’t feel like a
wealthy person.” When there was some talk of closing the carried interest
loophole, Steve Schwarzman strongly objected, as if Wall Street was actually
being invaded: “It’s a war…. It’s like when Hitler invaded Poland in 1939.”
But he freely admits (or pretends to admit) that he doesn’t
understand why others aren’t as satisfied with the status quo as he is.
“I find the whole thing astonishing and what’s remarkable is
the amount of anger whether it’s on the Republican side or the Democratic
side…. Bernie Sanders, to me, is almost more stunning than some of what’s going
on in the Republican side. How is that happening, why is that happening?..What
is the vein that is being tapped into across parties, that has made people so
unhappy?” He said "The question is, what is everyone protesting about?
There are a lot of things that I guess you could, but what's needed actually is
a cohesive, healing presidency, not one that's lurching either to the right or
to the left….” Having said that,
Schwarzman expressed support for Donald Trump.
Fellow Blackstone billionaire Byron Wien back in 2010
perhaps offers some clue when he said
“The retirement benefits for state workers, really not only
in New York, California and New Jersey, but throughout the country, are very
generous. Too generous. And it is very hard to change that.... But I think we
have to be more realistic. We literally can't afford the benefits we have given
our retirees in state and local governments. And we have to change that.”
In early 2015 Wien commented about the depleted savings of
“many” households:
“Among those who had savings prior to 2008, 57% said they’d
used up some or all of their savings in the Great Recession and its aftermath.
What’s more, only 39% of respondents reported having a ‘rainy day’ fund
adequate to cover three months of expenses and only 48% of respondents said
that they could not completely cover a hypothetical emergency expense costing
$400 without selling something or borrowing money. Of course, for those in the top 10%
of wage earners – ‘it’s all good.’ ”
Last October, Blackstone Group paid a $10 million penalty
for cheating customers (10/7484th – or .1336% – of its income.)
Steve Schwarzman is “astonished” by peoples’ anger that lots
of people resent that he made billions in the financial racket that brought the
country to its economic knees. He wants you to believe he’s not smart enough to
figure out that we don’t understand the system that made him a billionaire while
directly and indirectly impoverishing millions. Of course, the naiveté he
pretends to possess isn’t real. He knows full well about the class war…and
knows he is winning it…for now
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