Billionaire Loeb's Insane KKK Comment Condemned--Asked To resign charter school post

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Loeb is a major donor to Gov. Cuomo. Photo: Zack Seward-Flickr

Daniel Loeb the billionaire hedge fund manager who tweeted that New York State Senator Andrea Stewart-Cousins has "done more damage to people of color than anyone who has ever donned a hood" for supporting teachers unions has been roundly criticized for belitting the terrorism committed against Black people by the K.K.K.

Loeb, a big supporters of charter schools and chair of the Success Academy charter school network, deleted the tweet last Thursday and apologized.

New York City's First Lady Chirlane McCray tweeted: "Thanks for the apology. Now resign. Immediately."

Loeb is CEO of firm Third Point, an investment firm. Governor Cuomo also condemned the tweet, saying: "These comments were deeply hurtful and offensive and there is no place for this type of rhetoric in any discourse — political or otherwise."

“Cuomo donor Daniel Loeb’s statement about Democratic Conference Leader Andrea Stewart-Cousins being worse for black people than the Ku Klux Klan shows a complete lack of understanding of our nation’s history, and I strongly condemn its vile and disgusting sentiment," State Senator James Sanders Jr. said. "Now, that Loeb has taken back his remark and Governor Cuomo has openly spoken out against what Loeb has said, I would encourage all sides to pull back and focus on the needs of the people of New York State. There is work to be done and our residents deserve better. The state is better served when we are united instead of harping on things that divide us. We should use this time to reflect on a how to create a better future instead of wasting time bashing each other.”

George Gresham, President of the powerful union, 1199SEIU called Loeb's comment "reprehensible" and added: "To liken an African American woman to the Ku Klux Klan in any context is far beyond insulting, in fact, it’s racist. 1199SEIU has approximately 300,000 members in the State of New York. The union shares the outrage of elected officials of all races, colors and creeds, and echoes the call of the Reverend Al Sharpton and others for Mr. Loeb’s Immediate resignation as chair of the Success Academy board. Should he elect to remain as chair of the Success Academy, we will stand with those who call for a suspension of state funding for the network pending a satisfactory outcome in this matter. In the case of Daniel Loeb, a deleted post and an apology aren’t nearly good enough. We are not prepared to stand idly by while those who speak for us are slurred."

The New York City Progressive Council also issued a statement condemning Loeb: "To compare the first female legislative leader, specifically the first black female legislative leader, in New York State history to a white supremacist terrorist organization is shocking and shameful. In her decades long career, Stewart-Cousins has been a champion of same-sex marriage, equitable education, women and human rights, equal housing opportunities, and a living wage."


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