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Globe/wire say Brookfield Asset's Carney seeks museum

2024-03-11 09:33 ET - In the News

The Globe and Mail reports in its Monday edition that financial industry heavyweights convened in New York last week to raise funds for a finance museum that has lost its Wall Street address. A Reuters dispatch to The Globe says that at the Museum of American Finance gala, billionaire Ken Griffin welcomed attendees on enormous video screens in Manhattan's art deco Ziegfeld ballroom. Mark Carney, chair of Brookfield Asset Management and ex-Bank of England governor, honoured former Federal Reserve vice-chairman Richard Clarida. JPMorgan Chase and Wells Fargo bought tables. "The philosopher Santayana said, Those who are ignorant of history are doomed to repeat it," Howard Marks, billionaire co-founder of Oaktree Capital Management, said before he received an award. "This is equally true in the investment business: Those who are ignorant of history are doomed to lose money and/or miss opportunity." The 455 attendees raised $1.5-million (U.S.) for the museum. Yet its collection -- which includes a bond signed by George Washington, a ticker tape from the 1929 stock market crash and early examples of U.S. currency -- languishes in temporary storage in Georgia after spending several years in the Queens borough of New York.

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