Having cast aspersions on Pete Peterson’s Blackstone Group in the pages of this blog, I am obliged to point out this article on his charitable giving. It implies that most of the money earned from Blackstone will be given to the Peterson Foundation, which I’ve blogged about before.

“Ultimately, I decided to commit $1 billion to the Peter G. Peterson foundation—the vast majority of my net proceeds from Blackstone. Why so much? Kurt Vonnegut once told a story about seeing Joseph Heller at a wealthy hedge-fund manager’s party at a beach house in the Hamptons. Casting his eye around the luxurious setting, Vonnegut said, “Joe, doesn’t it bother you that this guy makes more in a day than you ever made from Catch-22?” “No, not really,” Heller said. “I have something that he doesn’t have: I know the meaning of enough.” I have far more than enough.”

Read more at “Why I’m Giving Away More than One Billion Dollars,” Pete Peterson, Newsweek, May 30, 2009