Daniel Loeb, Hedge Fund Manager and Chairman of Success Academy, Slanders African-American Legislator

Daniel Loeb, billionaire chair of the board of Success Academy Charter Schools, slandered State Senator Andrea Stewart-Cousins, an African-American woman who is the Democratic leader of the State Senate.

The backstory is that Cuomo has collaborated with a group of breakaway Democrats who side with the Republicans in the State Senate. Although Democrats have the majority in the Senate at 32-31, the so-called Independent Democrats vote with the Republicans, assuring that Republicans continue to control the Senate even though they are in the minority. Charter supporters, like Daniel Loeb, know that the interests of both charters and the financial community are safe with the Republicans. If Democrats had enough votes to control the State Senate, Senator Stewart-Cousins would be majority leader. Cuomo likes having Republicans in control because it allows him to be the broker between the Assembly and the Senate. Cuomo prides himself on his fiscal conservatism, so he is happy to have Republicans running the upper chamber of the legislature. It also guarantees that Cuomo won’t be forced to veto progressive legislation.

In a private meeting with Democratic members of the State Senate, trying for unity, Cuomo noted that most of the Senate members were from New York City, and that the leader of the Independent Democrats, Jeffrey Klein (whose district is mainly in the Bronx, with a sliver in suburban Westchester), had a better understanding of the suburbs than the city representatives. At that point, Senator Stewart-Cousins objected and pointed out that she represents the suburbs of Westchester.

After this story appeared, Daniel Loeb hurled a slur at Senator Stewart-Cousins on Facebook.

The hedge fund manager Daniel S. Loeb, a prominent supporter of charter schools and a major financial backer of Gov. Andrew M. Cuomo and congressional Republicans, accused the African-American woman who leads the Democrats in the New York State Senate of having done “more damage to people of color than anyone who has ever donned a hood.”

Mr. Loeb made the reference, apparently to the Ku Klux Klan, in a posting on Facebook in response to an article in The New York Times this week in which the Democratic leader, Senator Andrea Stewart-Cousins, confronted Mr. Cuomo about prejudging her based upon race and gender.

In a private meeting last month, The Times reported, Ms. Stewart-Cousins said to Mr. Cuomo during a debate over who best understands suburban voters: “You look at me, Mr. Governor, but you don’t see me. You see my black skin and a woman, but you don’t realize I am a suburban legislator.”

Mr. Loeb weighed in on behalf of Senator Jeffrey D. Klein of the Bronx, the leader of a group of Democrats that has split from Ms. Stewart-Cousins.

“Thank God for Jeff Klein and those who stand for educational choice and support Charter funding that leads to economic mobility and opportunity for poor knack kids,” Mr. Loeb wrote, with “knack” apparently a typographical error for “black.” “Meanwhile hypocrites like Stewart-Cousins who pay fealty to powerful union thugs and bosses do more damage to people of color than anyone who has ever donned a hood.”

Mr. Klein leads a group of eight Democrats who in 2011 broke away from the main Democratic conference, led by Ms. Stewart-Cousins. Mr. Klein’s group, the Independent Democratic Conference, has in the past sided with the Republicans in the Senate to keep Ms. Stewart-Cousins out of the powerful post of majority leader.

Daniel Loeb is a major player in the charter world because of his chairmanship of Success Academy. He is also a major player in politics because he is a big donor. When Ivanka Trump visited New York City, Loeb escorted her on a tour of one of Eva Moskowitz’s Success Academy charter schools.

Mr. Loeb and his wife have donated more than $170,000 to Mr. Cuomo in recent years, state records show. He has also supported Republicans, with contributions including $500,000 to a super PAC that supported Jeb Bush in 2015, $150,000 to the Republican National Committee that year and $700,000 to a super PAC supporting House Republicans in 2016.

Carol Burris wrote recently that Loeb had given even more money to Cuomo than the Times reported:

Success Academy Chairman Daniel Loeb, founder and chief executive of Third Rock Capital, and his wife, have directly contributed over $133,000 to Cuomo. Since 2015, Loeb has added $300,000 to Moskowitz’s PAC, and another $270,000 to other PACs that support Cuomo. That’s more than $700,000.

Daniel Loeb shows the true colors of the charter industry in New York City. He doesn’t pretend to be a liberal. He has the nerve to call an African-American legislator “worse” than the Ku Klux Klan. What do you call a man like this? Indecent? Shameless? Arrogant?

For many reasons, I place billionaire Daniel S. Loeb on this blog’s Wall of Shame.

from novemoore http://ift.tt/2vLG5gf

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