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Outrages

  

9486 in the collection  

    Thomas Friedman’s World Is Flat Broke

    by Peter Newcomb, Vanity Fair

    [B]ased on the bad news coming out of shopping-mall owner General Growth Properties[GGP], it is no wonder Thomas Friedman is feeling crankier than usual. That’s because the author’s wife, Ann (née Bucksbaum), is an heir to the General Growth fortune. In the past year, the couple—who live in an 11,400-square-foot mansion in Bethesda, Maryland—have watched helplessly as General Growth stock has fallen 99 percent, from a high of $51 to a recent 35 cents a share. The assorted Bucksbaum family trusts, once worth a combined $3.6 billion, are now worth less than $25 million.

    But don’t expect Friedman to go from Beirut to Jerusalem begging for money. The distinguished columnist (and former New Establishment member) is still said to get at least $50,000 per speaking engagement on top of the millions he makes writing best-sellers.


    Billionaire Tom Friedman's Fortune On Brink of Bankruptcy

    by: David Sirota, OpenLeft.com

    Tom Friedman has been the most aggressive and well-known spokesman for know-nothingist free trade, job outsourcing and sending blue-collar kids off to die in wars for oil. His advocacy is a form of loyalty to class, considering he's spent most of his adult life as a guy who married into a billion-dollar fortune. I say "most of his adult life" because Vanity Fair reports that he's now "only" a $25 millionaire thanks to the real estate bust brought on by the very boom-bust economy Friedman himself championed. Indeed, the company that created the family fortune he married into ison the brink of going bankrupt.

    Maybe Friedman's fall from the billionaire's club will make him come to his senses on some of this financial and trade stuff. Maybe - just maybe - he'll start realizing that the free-market fundamentalism he's been preaching for so long has some downsides.

    Then again, he's still got $25 million to his family's name, and a 12,000 square foot Bethesda mansion. So I'm not holding out much hope....

    — Peter Newcomb and David Sirota
    Vanity Fair and OpenLeft.com
    2008-11-12
    http://www.vanityfair.com/online/politics/2008/11/thomas-friedmans-world-is-flat-broke.html

    INDEX OF OUTRAGES

Pages: 380   
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