Met, MoMA Feel Wall Street’s Pain

From the Wall Street Journal: “How dependent is the museum business on Wall Street and financial-services income? Boards are actually fairly well diversified, but Wall Streeters have been disproportionately generous. The Met’s first gallery devoted to contemporary photography, Joyce and Robert Menschel Hall, opened earlier this year; it was endowed chiefly by Robert Menschel, a senior director of Goldman Sachs. … The ties to financial institution executives are particularly tight at the Museum of Modern Art, which opened its $800 million new building in 2004. It has Mr. Menschel, hedge-fund mogul Leon Black, and Marie-Josée Kravis, the wife of financier Henry Kravis, on its board. Kathy Fuld, wife of disgraced Lehman Brothers CEO Richard Fuld, is a museum vice chairman.”

Met, MoMA Feel Wall Street’s Pain