Bill Ackman Quotes
It is a certainty that Herbalife is a pyramid scheme. We believe it's harming a population of low-income, principally Hispanic people in the U.S. to benefit a handful of super wealthy people at the top of the pyramid.
Ackman, William. "Who Wants to Be a Millionaire?" Pershing Square Capital Management, 20 Dec. 2012, New York, NY. Presentation.
Summarizing his conclusions of the Judiciary Committee investigations regarding Wall Street and the bankers' role in the Great Depression:
The States sold bonds to finance the Revolutionary War. Some states had better prospects for redeeming their bonds than others. Georgia, South Carolina and North Carolina in particular had poorer prospects than most and their bonds were selling at about 25 cents on the dollar. Alexander Hamilton, then the Secretary of the Treasury, wanted the new Federal government to assume the state’s war debt and pay off the bonds. He made his proposal for how he would accomplish this on January 14, 1790. He delivered his report and proposal to Congress “Report on the Public Credit”. As soon as Hamilton’s proposal was read in Congress, sophisticated speculators set off for the Southern States to buy up as many bonds as they could before the owners found out that a Federal bail-out was under serious consideration. They could easily double, triple or even quadruple their money. To Jackson this was gross immorality. Other representatives had a different point of view. See {619928} & {619929}.
There were little controls over usury in his time in India. Villagers often paid 500% or more to borrow money in a necessity like needing critical health care.
William Albert Ackman is an American investor and hedge fund manager. He is the founder and CEO of Pershing Square Capital Management, a hedge fund management company. Ackman is an activist investor.