Once again Goldmans in the headlines while elsewhere the Mayor of Chicago, former Obama advisor, Rahm Emanuel is clearly urging a need to find ways to include private capital in public programmes…
Goldman Sachs plans to announce this week that it will finance an early education program in Utah — and it expects to make money on the venture.
The investment bank aims to loan up to $4.6 million for a preschool program in Salt Lake City. The idea is to raise the achievement level of thousands of economically disadvantaged children before they enroll in school, thereby reducing the later cost of special education.
The more Goldman Sachs reduces Utah’s cost of special education, the more money it will make. It also could lose money if the program fails to hit its benchmarks.
There was a lot of talk at the opening session of the Clinton Global Initiative America meeting yesterday about the virtue of the next big thing in government: private investment.
Former president Bill Clinton heaped praise on things like social-impact bonds and infrastructure banks; guest speaker Rahm Emanuel said “we need private-sector resources” to help us get public projects done; and future presidential candidate Hillary Clinton warned that “we can’t look to government to solve all our problems.”