Ken Langone just gave a speech at this year’s Ira Sohn conference on why the hedge fund industry should be writing checks to charitable causes. Why? KEN LANGONE TELL YOU WHY!

“I don’t know how many people here work at hedge funds, but I want to say something. The city of New York would be worse off without the hedge fund industry. I want to tell you something. We don’t do a good enough job bragging. The Robin Hood Foundation. Steve Cohen, all he’s done. Yet we let ourselves be defined by people who resent us because of our success…Spitzer thinks I’m a bad guy, I’m not a bad guy. What’s the worst thing that he can say about me? That I’m an overpayer? [aside] I don’t like the guy and every time I get a chance to take a shot at him I do it…so let me tell you why you should give money to charity. When a society creates a gap between the haves and the have-nots so wide you’re setting yourself up for social unrest. Think about what’s going on in the so-called Arab Spring. It’s not democracy versus dictatorship. It’s about people wanting a better life. That’s why they’re in the streets…[screaming] And I’m giving money to America…a place that let a kid who’s father was a plumber and mom worked in a cafeteria get an education. And I’m not sorry, I worked my ass off. The first thing I do every morning is put on an American flag pin on my lapel and I say ‘thank you grandma and grandpa for coming here.’ I never felt rich until I started writing big checks. For your own selfish reasons, write a check. Confident people accomplish more. If you want to make a difference, then think about what good you can do with what you have.”

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Comments (10)

  1. Posted by Concerned audience member | May 25, 2011 at 8:57 PM

    Was a little worried he was getting off topic when he went Steve Cohen to Arab Spring to plumbers.  But then he tied it all together when he went grandma and lapel pins.

  2. Posted by trojan | May 25, 2011 at 8:59 PM

    anchor baby

  3. Posted by spectator | May 25, 2011 at 9:03 PM

    sure, give back a little that you made being smart and/or lucky (more likely lucky) enough to have raked it in due to 30 years of subsidized credit.  Unlike past cycles in America, “haves” this cycle are taking from a pie that is not growing.  Just taking from the have nots, or at least their children.

  4. Posted by Elliot Spitzer | May 25, 2011 at 9:21 PM

    Fuck Langone with Grasso’s dick.

  5. Posted by Anonymous | May 25, 2011 at 9:21 PM

    you angry bro?

  6. Posted by early hominid | May 25, 2011 at 9:36 PM

    Writing a check for your own selfish reasons is the nki. 

  7. Posted by Guest | May 25, 2011 at 10:56 PM

    he is just like he sounds

  8. Posted by Spanishmoon | May 26, 2011 at 12:52 AM

    Helping Home Depot and Immunex get started with no government assistance seems pretty good to me. Contributing millions to cancer charities and other causes seems pretty generous to me. Ken Langone is a great man. You are an envious little douche bag.

  9. Posted by Phealy7552 | May 26, 2011 at 4:33 AM

    Wow.  Those are some pretty amazing comments above.  Allow me to ask you guys a simple question:  can’t you just for once give a hard working, honest guy a little bit of credit for being a stand up guy?  Has Langone been lucky?  Sure, he is the first to admit it.  That said, all he does is continue to work his ass off, give back to a society that is comprised of takers (as opposed to givers like Langone) and give back far more than he has received.  So can’t you guys just once show some class, acknowledge his points and say thank you for the wisdom and the generosity that Langone has provided?  Just once??? 

  10. Posted by Elliot Spitzer | May 26, 2011 at 1:17 PM

     Fuck you lamebrain.