The news is highly speculative, but according to reporter Teri Buhl, there really is talk of kicking him off the board.
We find it strange that Spence wouldn’t want a hugely popular and profitable hedge fund manager like John Paulson on their board for two reasons.
Spence is upper-east side and probably one of the schools Gossip Girl is based off of. Enrolled in the school are probably a bunch of Wall Street kids, including children of Goldman Sachs employees who would probably be a little peeved that the school is distancing themselves from a colleague.
Also, Paulson emerged from the SEC charges against Goldman Sachs with his image pretty much intact. In fact, he connected the SEC with Paolo Pelligrini and aided them in their ABACUS investigation.
But apparently the school doesn’t like their board being so closely associated with anyone garnering negative attention in the media.
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