Go where the need is greatest, they say, and wealthy businessman Scott Ginsburg became convinced that yet another fitness center on Georgetown University’s campus – this one exclusively for the use of law students – would best serve humanity.
He gave millions of dollars toward its construction, and the whole deal was basically one of those love-fests – Georgetown was gonna plaster his picture on all the medicine balls or whatever; the school invited him to be on the Board of Visitors …
Sure, the university was aware that the SEC was somewhat, er, exercised about Ginsburg’s insider trading; but what would universities, from Brown to the University of Michigan, do without insider traders on the faculty and the board of trustees? All that money has to come from somewhere…
So, I mean, they took the money and they built the dealie, but when Ginsburg actually got hammered by the SEC, Georgetown decided, on reflection, that it would rather the face of an insider trader not be hung, like one more religious icon, from the Jesuit school’s walls.
This behavior shattered Ginsburg’s innocence. In his lawsuit, he writes:
“Ginsburg was invited to join the Georgetown Board of Visitors, welcomed to university functions, invited on university trips and generally embraced by the university, all with the goal of extracting ever more money from him.”
So! It had all been a nefarious tit for tat!
Now that the scales have fallen from Ginsburg’s eyes, he has sued, not only to get his money back, but for the repair of his idealism.
March 15th, 2013 at 10:59AM
[…] Rising action, climax, denouement. Some are before – Georgetown was going to name Douglas Ginsburg, but the SEC named him first. And a few are sort of during – Nevin Shapiro’s little […]