Friday, March 2, 2012

Man Saves Monument - where was Warren Buffet?

As a result of the August 23, 2011 earthquake that rocked the east coast of the United States, the Washington Monument suffered damages that the National Park Service did not have the funds to repair. However, a generous donor by the name of David Rubenstein has stepped in to save the day.

The Inquisitr reports, “A renowned history buff Rubenstein says he felt that paying for the monument’s fixes was something he could do as a ‘good citizen’ of the United States.”

The earthquake rendered the Washington Monument unsafe for visitors, forcing it to be closed to the public. The earthquake caused $15 million dollars in damage, of which half the amount was recently approved by Congress to fund repairs. The National Park Service was told that it had to find a donor to cover the remaining funds to repair the Washington Monument.

On Thursday, January 19, the Park Service announced that David Rubenstein would finance the repairs, which are expected to take up to a year to complete. Rubenstein has a reputation for being a philanthropist. As a co-founder of the Carlyle Group, a global asset management firm, he donated $4.5 million to the National Zoo’s panda program.

“What greater symbol is there in Washington of our country?” reflects Rubenstein, who earlier last year gave $13.5 million to the National Archives, for which he also purchased a $21 million copy of the Magna Carta that will be displayed at the archives. “I am committed to philanthropy,” he tells the Washington Post. And private funding like this one is “a good thing ... because the government doesn’t have all the money that it used to have.”

Rubenstein saved the government millions of dollars, the moral equivalent of paying that much more in taxes except for the fact that he controlled how it was spent. Warren, you might take a hint from this action.

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