Resurrecting Ayn Rand: Hedge Fund Money Teams Up With Koch & BB&T
A Corporate Coup D’Etat on Campus
Ayn Rand: Knowing her propaganda value, the capitalists
are trying to revive this ghoul.
by PAM MARTENS and RUSS MARTENS
Gary Weiss, the Wall Street writer who was ahead of his time with his comprehensive chronicle of Wall Street corruption in 2006 (Wall Street Versus America) charts a bold new course this week with the release of Ayn Rand Nation: The Hidden Struggle for America’s Soul.
Thanks to Weiss, the nation might just escape the next wave of Ayn Rand’s radical capitalism and student brainwashing by corporate money vultures fanning out across U.S. campuses.
Thanks to the trail paved in Weiss’ book, we did some further digging into the money cartel financing this “spontaneous” outpouring of campus and Tea Party interest in Rand, whose work is regularly considered by top academics to be mediocre and simpleminded.
This cartel has a striking similarity to the network of university economists set up by Big Tobacco in a money for hire scheme from 1983 to the mid 90s to blanket Congress and the media with bogus OpEds and research papers.
Atlas Shrugged is taught and distributed to students.
Raising more eyebrows is the discovery that the so-called populous craze for Ayn Rand’s seminal work, Atlas Shrugged, is also being financed by a decidedly non-populist pact of deep-pocketed hedge fund operators.
As we reported yesterday in this space, the Ayn Rand Institute (ARI) has already conceded the following on its web site:
“ARI seeks to spearhead a cultural renaissance that will reverse the anti-reason, anti-individualism, anti-freedom, anti-capitalist trends in today’s culture. The major battleground in this fight for reason and capitalism is the educational institutions—high schools and, above all, the universities, where students learn the ideas that shape their lives…To date, more than 1.4 million copies of these Ayn Rand novels have been donated to 30,000 teachers in 40,000 classrooms across the United States and Canada.
“Based on a projected shelf life of five years per book, we estimate that more than 3 million young people have been introduced to Ayn Rand’s books and ideas as a result of our programs to date…partnerships have been established between ARI and the corporate community to advance Ayn Rand’s ideas in the universities. (Italics added.)
“Through ARI’s assistance, Ayn Rand’s ideas are taught and studied at more than 50 of America’s most influential institutions of higher education, including: Clemson University, Duke University, University of Virginia, University of Texas at Austin, University of Pittsburgh, University of North Carolina at Chapel Hill, Brown University, University of Kentucky, University of South Carolina, University of Florida, University of West Virginia and Wake Forest University.”
Weiss attends the 2010 St. Regis event and was stuck at an ultraconservative press table, getting a sugar high on moelleux aux chocolat, coconut sorbet and berry chutney, as the mindless clap-trap of Objectivist theory drones into the microphone.
What happened at the September 15, 2011 redux of this fundraiser, “The Atlas Shrugged Revolution,” when Weiss’ book is no doubt already in galleys, might surprise even Weiss. The hedgies are fully in control of the event, dominating the podium and raising a little more than a cool $1 million, besting the prior year’s take by $600,000.
The key speakers included Dmitry Balyasny of the hedge fund, Balyasny Asset Management, as well as Colvin, also from this hedge fund and creator of the New York chapter of the Ayn Rand Institute. Another key speaker was Scott Schweighauser, partner and chief investment officer of Aurora Investment Management, L.L.C., a fund of hedge funds managing approximately $10 billion.
The biggest donors at the event who would allow their names to be published, included the following:
$50,000: Balyasny Asset Management
$25,000: Eric Brooks and Jeff Yass of hedge fund and private equity firm Susquehanna International Group.
$25,000: Jim Brown of hedge fund, Brandes Investment Partners.
$25,000: Scott Schweighauser of fund of hedge funds, Aurora Investment Management, L.L.C.
There are two simple words that sum up why hedge funds would be bankrolling the resurrection of a woman who’s been dead for thirty years: Dodd-Frank, the financial reform legislation that Wall Street is desperately trying to kill.
Among the multitude of co-opted campuses – three stand out as taking on the aura of right-wing flacks gone bonkers rather than a serious economic course.
Florida Gulf Coast University’s Distinguished Professorship of Free Enterprise:
That every exit door from this program leads to a Koch funded group or an Ayn Rand text is spine chilling. Where are the advocates for these impressionable young minds at this institution of higher learning? Forget about the nonsensical “Moral Foundations of Capitalism,” this whole program is a moral outrage.
the internships are either directly run by Koch, nonprofits created by Koch or funded by Koch.
The concentration of Koch money and influence at Troy is a disgrace at a publicly funded institute of higher education. That it is occurring under the nose of an institution with an FBI partnership tells one a great deal about corporate money and Washington today.
Pam Martens worked on Wall Street for 21 years. She spent the last decade of her career advocating against Wall Street’s private justice system, which keeps its crimes shielded from public courtrooms. She maintains, along with Russ Martens, an ongoing archive dedicated to this financial era at www.WallStreetOnParade.com. She has no security position, long or short, in any company mentioned in this article. She is a contributor to Hopeless: Barack Obama and the Politics of Illusion, forthcoming from AK Press. She can be reached at pamk741@aol.com
Related Article: http://www.counterpunch.org/2012/02/27/ayn-rand-the-tea-partys-miscast-matriarch/
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