Author Anand Giridharadas on The Rigged College System

Forget about Lori Loughlin and Felicity Huffman—author Anand Giridharadas says the real story around this college scandal is much more troubling.

“Tens of thousands of rich and powerful people who benefit not only from the perks of white privilege, not only from a system of public education that gives you a nicer school if you have a nicer house, not only from tax policy that’s allowed the rich to get richer and everybody else to be left in the dust—those policies have kind of rigged things for all rich people,” he explained.

Giridharadas says that the most important name brought up in the scandal was not Loughlin’s or Huffman’s, but Bill McGlashen’s.

McGlashen is a Silicon Valley investor who advocates for ethical and social impact investing. He also allegedly spent more than $250k so his son could attend the University of Southern California. He has been put on indefinite leave at private equity firm TPG.  So it appears that, while McGlashen was busy touting the idea of a new kind of capitalism that was going to power the poor, he was also trying to rig the system, using his power and privilege.

Giridharadas says the economic system that McGlashen represents was exposed in this admissions scandal for what it really is—a way to sustain a system that exclusively benefits the ultra-rich.