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Sandro Rosell
FC Barcelona President
Monday, September 25, 2017

After a hedge fund manager with political connections made a racial comment about a black state Senate leader, Mayor Bill de Blasio's wife demanded that he resign from his position as board chairman of the largest charter school in the city. 

According to Crain’s, “Third Point LLC's Daniel Loeb posted commentary on Facebook asserting Senate Democratic Leader Andrea Stewart-Cousins had done more damage to the African-American community than the Ku Klux Klan by being hostile to charter schools. At the same time, Loeb—chairman of the board at Success Academy Charter Schools—praised Bronx Sen. Jeffrey Klein, whose Independent Democratic Conference has held a power-sharing arrangement with Senate Republicans since 2012.”

Loeb wrote online, "Thank God for Jeff Klein and those who stand for educational choice and Charter [sic] funding that leads to economic mobility and opportunity for poor knack [sic] kids. Meanwhile hypocrites like Stewart-Cousins who pay fealty to powerful union thugs and bosses do more damage to people of color than anyone who has ever donned a hood." He obviously meant to write ‘black kids’ instead of the typo ‘knack kids.’

Governor Andrew Cuomo denounced Loeb’s remarks. Although, the hedge fund manager, with an approximate net worth of $3.2 billion has been a longtime donor to both the Governor and Klein. 

Early on Friday, August 11, after deleting the Facebook post, Loeb issued a statement which said, "I regret the language I used in expressing my passion for educational choice. I apologize to Senator Stewart-Cousins and anyone I offended."

First Lady Chirlane McCray did not feel that his apology was enough. Her husband, the mayor, has bumped heads many a times with Success Academy and its CEO, former City Councilwoman Eva Moskowitz.

On Friday, McCray wrote on both Twitter and Facebook, "Thanks for the apology. Now resign. Immediately."

Crain’s reports, “As leader of a conference that includes just 23 of the state Senate's 63 members, Stewart-Cousins has virtually no power to pass or block legislation that affects charter schools. The primary resistance to their expansion is in the Assembly, which Democrats control with support from teachers' unions.”

By Hannah Hayes