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

Monday, June 21, 2021

Corporate Welfare Charter Kingpins Try to Buy a New NYC Mayor

With the clueless Bill Deblasio soon vacating the Mayor's office, the hedge funders and the box store  billionaires who want to crush public schools and unionism in order to advance paternalist corporate charters and chain gang pedagogy are dumping tons of dollars into the trough where Eric Adams and Andrew Yang feed. From the NYTimes today:

. . . . Steven A. Cohen, the hedge fund billionaire who owns the Mets, donated $500,000 to Mr. Yang’s super PAC and $500,000 to Mr. Adams’s in mid-May, when the two candidates were leading the polls. But as Mr. Yang’s support appeared to wane and Mr. Adams’s grew, Mr. Cohen cut off Mr. Yang and donated another $1 million to Mr. Adams.

A similar trajectory characterizes the giving patterns of Daniel S. Loeb, another hedge fund billionaire and an outspoken supporter of charter schools and former chairman of Success Academy Charter Schools. He donated $500,000 to Mr. Adams’s super PAC and $500,000 to Mr. Yang’s super PAC in mid-May. Three weeks later, as Mr. Adams was cementing his front-runner status, Mr. Loeb gave Mr. Adams’s super PAC another $500,000.

Both Mr. Adams and Mr. Yang have expressed support for charter schools.. . .

. . . .One thing some may hope to get is an expansion of charter schools in the city. Other billionaires financing super PACs in this primary include four investors who support charter schools, a favored cause of financiers skeptical of district public schools: Stanley Druckenmiller and Paul Tudor Jones, who donated $500,000 and $600,000, respectively, to the Adams super PAC; Kenneth Griffin, another hedge fund manager, who has donated $750,000 to both the Adams and Yang super PACs; and Pennsylvania investor Jeffrey Yass, who donated $500,000 to Mr. Yang’s super PAC.

As it happens, the president of Mr. Adams’s super PAC is Jenny Sedlis, who is on leave from a charter school advocacy group, Students First NY, and co-founded Success Academy, which has received direct financial support from Mr. Griffin.

If you support public education, do everything you can to make sure that Eric Adams and Andrew Yang are defeated.

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