More money for leftist causes

By

Herb and Marion Sandler are legends in the worlds of both finance and politics. Now in their 70s, the couple have run Golden West Savings for decades, having built it from a small S&L into a highly profitable giant. Friends who know them have long told me what nice people they are, how smart they are, and how unselfish. They share an office, discuss everything, finish each others' sentences, and otherise display modesty, wit, love, and mutual respect.

Each of them is reckoned to be a billionaire already, and they are on their way to much more wealth. The sale of Golden West to Wachovia Bank of North Carolina for $25 billion is going to enlarge their fortunes.

The bad news in all of this is that they are also dedicated left wingers. Even worse, they have announced their intention to give away their fortune, and the prospect is that gobs of money will go to endowing left wing institutions.

Be afraid. Be very afraid.

Thomas Lifson   5 08 06

 

Herb and Marion Sandler are legends in the worlds of both finance and politics. Now in their 70s, the couple have run Golden West Savings for decades, having built it from a small S&L into a highly profitable giant. Friends who know them have long told me what nice people they are, how smart they are, and how unselfish. They share an office, discuss everything, finish each others' sentences, and otherise display modesty, wit, love, and mutual respect.

Each of them is reckoned to be a billionaire already, and they are on their way to much more wealth. The sale of Golden West to Wachovia Bank of North Carolina for $25 billion is going to enlarge their fortunes.

The bad news in all of this is that they are also dedicated left wingers. Even worse, they have announced their intention to give away their fortune, and the prospect is that gobs of money will go to endowing left wing institutions.

Be afraid. Be very afraid.

Thomas Lifson   5 08 06