Schwarzman’s shocking subprime analogy

[Joelle]

Schwarzman's shocking subprime analogy
      

Blackstone CEO Steve Schwarzman has had more than his share of negative PR in the last year, with a lavish lifestyle that served as a lightning rod for criticism of the private equity industry. Which makes the following quote, uttered by Schwarzman at an investor meeting in Florida last week, even harder to understand.
         

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