Oh such a tale of woe

T. Boone Pickens makes a donation to Oklahoma State of $165 M. Very generous.

Funds are kept in TBP’s hedge fund. TBP is an oil man, and BP Capital Management has heavily bet on oil.

Donation swells to $300 M.  Woo-hoo!

School borrows against ‘gift’ to make improvements to stadiuum using ‘gift’ as collateral.

Oil takes a dump.

“Officials were told that actually, the entire $ 165 million donation, and the earnings, which once inflated the gift to over $300 million, had recently been eliminated by margin calls due to drastically falling oil prices.”

Looks like tuition might have to be raised. A bit.

It would appear that T. Boone needs a massive capital injection to maintain the lifestyle to which he is accustomed to living. Maybe he can borrow some ‘fluids’ from his geriatric pal Kerkorian Ross Icahn Buffett.

[Oklahoma State Is Officially Screwed]


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