Ken Griffin warns Paris riots show risks of socialism
Citadel CEO Ken Griffin said the unrest in Paris and other French cities should prompt young Americans to reconsider socialist policies. At a panel hosted by…
Citadel CEO Ken Griffin says unrest in Paris and other French cities should make young Americans question whether socialist policies deliver the outcomes their supporters promise. Speaking at a Citadel Securities conference, he compared the turmoil in France with Chicago in 2021 and 2022.
Griffin made the remarks during a panel at Citadel Securities’ Future of Global Markets Conference. He argued that France’s government spending and social safety net had not prevented disorder on its streets, framing the unrest as a warning for the United States.
“If you want to look at where socialism leads you to, look at France this last weekend. It's the socialist dream. The country spends 60% of its GDP at the government level. And yet their streets are awash in turmoil,” Griffin said. “It's heartbreaking.”
His comments link the events in France to an American policy debate. Griffin said young people who support socialist policies should see the disorder as a warning about what he views as the consequences of those ideas.
“Paris looked pretty damn similar to Chicago in 2021 and 2022,” he said.
For Americans following the debate, Griffin’s argument centers on public safety and the role of government: he says extensive public spending has not kept France free of street turmoil, and he warns against adopting policies he believes could threaten property and personal rights. Those are Griffin’s political judgments, not findings established by the source report.
Griffin names Illinois governor
Asked whether he had concerns about US political candidates he believes might steer the country toward that path, Griffin named Illinois Gov. JB Pritzker.
“I mean, JB Pritzker, governor of Illinois. Yes, 100%,” Griffin said.
Griffin has also tied his criticism of Chicago to his business decision to move Citadel’s headquarters. The firm relocated from Chicago to Miami in 2022, after operating in the city for nearly three decades.
In November, Griffin told Fox News’ Bret Baier at the America Business Forum that Chicago was a “failed city-state.” He said two colleagues had bullets fly through their cars and described bullet damage to the building where he lived.
“I had 25 bullet holes in the front of my building where I lived. You can't live in a city awash [with] violent crime,” Griffin said.
His comparison between Paris and Chicago is rooted in his own assessment of public disorder and safety. Griffin said the French unrest reminded him of Chicago in 2021 and 2022, while his remarks at the conference extended that comparison into a broader warning about US policy.
Griffin said Paris should be “a real wake-up call to every single young American.”
Source: foxbusiness.com
