Opinion

The decade of the billionaire victim

In 2010, banks foreclosed on a more than a million homes. The jobless rate for the year hovered just under 10 percent. But billionaire investor Stephen Schwarzman knew who the real injured party was: the wealthy.

When the Obama administration proposed closing the carried interest loophole, a tax break exploited by those in private equity, Schwarzman couldn’t contain himself any longer. “It’s like when Hitler invaded Poland in 1939,” he claimed at a New York City gathering.