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Wall Street's Fix for Homelessness

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A former hedge fund manager believes that charity causes poverty.

Hightower-Wall Street-Ed Yourdon
Ed Yourdon/Flickr

It's so great -- truly heartwarming -- to see billionaires devoting their deepest thoughts to finding solutions for eradicating poverty.

For example, I can't begin to tell you how grateful America's homeless people are going to be once they hear about Andy Kessler, who has been thinking long and hard about their plight. Kessler is a former hedge-fund whiz, which means he was in the business of making...well, money. Beaucoup bundles of it.

Yes, the problem is "all this volunteering and charitable giving." These homeless folks ought to be working, he told his son. But, Kessler lectured in a  Wall Street Journal op-ed, they're not, "because someone is feeding, clothing, and in effect, bathing them." 

Having seen his 16-year-old son volunteer at a homeless center, this champion of the rich was motivated to develop a plan to solve homelessness. Here it is: Stop dishing out soup to those people and shut down all the shelters.

Gee, Andy, I recall that Jesus said something about our Godly duty to feed and clothe the needy -- and even to wash the feet of the poor.

But apparently, Jesus just didn't grasp the essence of true morality. Blessed are the Rich, is Kessler's spiritual mantra. "Where does money come help the unfortunate?" he asked. And yea, I say unto thee, the Holy Hedge-Funder answered his own deep question: It comes from "someone [who] worked productively and created wealth."

Thus, he sagely concluded, the answer to poverty, to truly helping the poor, is not to pamper the takers, but to provide more tax breaks for the makers of wealth (like him) -- the ones who produce "good old-fashioned economic growth."

Wow, what a role model this guy is for his son -- and for all of America's youth!

Wouldn't you like to buy him for what he's worth...and sell him for what he thinks he's worth? That surely would fund a whole lot of homeless services.


Jim Hightower is an American populist, spreading his message of democratic hope via national radio commentaries, columns, books, his award-winning monthly newsletter (The Hightower Lowdown) and barnstorming tours all across America.

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Welfare for the rich is HOGWASH.  The "makers... by Joy Zocco on Thursday, Aug 22, 2013 at 12:38:31 AM
There is a very good reason why about 50 percent o... by E. J. N. on Thursday, Aug 22, 2013 at 10:05:13 AM
Yes, the problem is "These homeless folks ought ... by KurtB on Thursday, Aug 22, 2013 at 3:16:53 PM
I worked for ten years in a homeless shelter, five... by hugh curran on Thursday, Aug 22, 2013 at 6:26:03 PM
And some who have traumas are sick and poor war ve... by jean labrek on Thursday, Aug 22, 2013 at 9:11:39 PM
Money is NOT wealth.Money is a CLAIM on wealth.Wea... by Arend Rietkerk on Thursday, Aug 22, 2013 at 11:28:06 PM