A Boon for Pickens?

Selfish Giving has a new patron saint: Billionaire Boone Pickens.  According to the NY Times:

At the end of the year, he gave $165 million to a tiny charity set up to benefit the golf program at Oklahoma State University, reaping Mr. Pickens a tax deduction. Records show that the money spent less than an hour on Dec. 30 in the account of the university's charity, O.S.U. Cowboy Golf Inc., before it was invested in a hedge fund controlled by Mr. Pickens, BP Capital Management.

One lawyer remarked: "Sadly, it's another case of a rich man manipulating charity for his own benefit."  (Yeah, like the boys in Washington expected the super rich to just ignore the tax loophole they created for Hurricane Katrina donors.)

But Pickens sees it differently:  "We will manage the money, but don't leave here thinking that I gave it and they gave it back.  I gave it, and we're investing it for them."

Let me go on record as saying that if Mr. Pickens would like to "manipulate" another charity for $165 mill--or even for a lot less--to please give me a call at 1-800-GUMBY.

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