Business.view | Taken to the cleaners | Economist.com

Business.view | Taken to the cleaners | Economist.com:
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"Private equity could also polish its image with some philanthropy. Mr Ferguson has tried his best, helping to found Britain's Institute for Philanthropy a few years ago, but the record for the industry as a whole could do with some burnishing. Especially in America, private-equity bosses are best-known for giving their money away, not to charities, but to the rock stars they hire to play at their birthday parties. David Bonderman of Texas Pacific had the Rolling Stones. Steve Schwarzman of Blackstone was serenaded by Rod Stewart."