"A child's learning is the function more of the characteristics of his classmates than those of the teacher." James Coleman, 1972

Saturday, June 16, 2018

Is Robert Dugger setting up Robin Hood to steal from the poor?

from Wrench in the Gears
June 16, 2018


More on the people behind ReadyNation’s Global Business Summit on Early Childhood, November 1-2, 2018 New York City
Who is Robert Dugger?
Robert Dugger is the co-founder of ReadyNation and serves on the board of the Council for a Strong America. He began his career as an economist with the Board of Governor’s that oversees the Federal Reserve System, later serving as a senior advisor on banking and financial policy in the US House of Representatives and the US Senate. From 1988 until 1992 Dugger worked as policy director for the American Bankers Association where he was involved with the development of the Resolution Trust Corporation in the aftermath of the savings and loan crisis. He went on to become managing director of Paul Tudor Jones’s hedge fund, Tudor Investment Corporation, a position he held from 1992 until 2009. Dugger now runs Hanover Provident Capital in Alexandria, VA, while also serving on the boards of the Virginia Early Childhood Education Foundation and as the Chair of ReadyNation.
Tudor Investment Corporation and the Robin Hood Foundation
It is important to note Dugger’s ties to Paul Tudor Jones II, his employer for fifteen years. Jones created The Robin Hood Foundation in 1998. A 2007 feature in New York Magazine, “The Emperors of Benevolence: A Dossier on the Board of Directors of the Robin Hood Foundation where everybody either knows a rock star or is rich enough to buy one,” described the “anti-poverty” foundation as “one of the most influential philanthropic organizations of all time.” Robin Hood, associated with initiatives like the Harlem children’s zone, has only grown more influential.
 
During the organization’s annual gala earlier this month, over $15 million was raised in minutes as Jones, according to Bloomberg’s coverage of the event, enjoyed fennel-braised beef with Bill Gates.
New York’s first social impact bond drew a $300,000 investment from the foundation. Clearly Robin Hood could have access to almost limitless capital if Pay for Success opportunities around Pre-K open up in New York. The New York State Early Childhood Advisory Council prepared a 2012 report, “Using Pay for Success Strategies to Increase School Readiness.” The clock is ticking…

The Robin Hood Foundation has developed a sophisticated system of metrics to track the programs they fund, which means they have considerable infrastructure in place to take advantage of social impact investment opportunities. They have an exhaustive list of very specific equations aligned to education, work readiness, and health outcomes. You can review the equations here and/or watch the video summary. Thanks to blog commenter Laura Chapman for that lead.





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