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Forbes: Is ‘Impact Investing’ Just Bad Economics?
By Phil DeMuth
There was an entertaining article in this Sunday’s New York TimesStyle Section about a gang of rich kids who got to go on a field trip to the White House to “empower” them and let them schmooze about their charitable projects (possibly now to include the DNC?). My favorite line was a description of 26-year-old zillionaire Zac Russell, who wore a “loosely fitting suit without a necktie that contrasted with the stately White House surroundings.” I recall how President Ronald Reagan refused to take off his suit jacket or loosen his tie in the Oval Office even when he was hot because he did not want to insult the dignity of his surroundings with undue casualness. Fortunately, these trustafarians know how to chillax.