Pershing Square Foundation

William Ackman is the CEO and Portfolio Manager of Pershing Square Capital Management, L.P., an SEC registered investment adviser founded in 2003.

In 2006, Bill and Karen Ackman founded the Pershing Square Foundation (PSF) to support exceptional leaders and innovative organizations.

New York Federal Reserve Bank

Rudy Havenstein ~ Substack - March 12, 2023

Bill Ackman personifies everything wrong with our financial system. “Hell is coming” Redux ~

First off, please read Fragile Capitalists: Silicon Valley Bank's shareholders and creditors should not be bailed out, by Rational Walk, one of the best financial observers around.1)

So anyway, one of the worst people on Earth, Bill Ackman, posted this the other day, which is why I’m going to pummel him for bit before moving on…

  • …the world has woken up to what an uninsured deposit is — an unsecured illiquid claim on a failed bank.

OK, so Bill’s talking about some of the most sophisticated investors in the world, supposedly ignorant that any bank deposit above $250K was an unsecured illiquid claim on a failed bank.

For Ackman to suggest he and the others did not know this is complete horseshit. I know people with 1/100,000th the net worth of Bill Ackman who are aware of this.

I’ve observed over the years that the FDIC is one of the more competent government institutions. They are very experienced in resolving failed banks.

Guess who is on the Investor Advisory Committee on Financial Markets of the New York Fed?

If you were wondering if Bill Ackman is a raging warmonger, he is. Your kids can go fight - he has CNBS appearances to do. 2)

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