Thursday, September 07, 2006

Followup on Brooke Astor

Last July Jim Macdonald called to our attention the controversy over whether Brooke Astor's son had been taking proper care of his 104-year-old mother. J. P. Morgan Chase was appointed the temporary guardian of Ms. Astor, and they have uncovered what looks like some very questionable financial transactions. Details are reported by the New York Times in Mrs. Astor’s Son Is Accused of Mishandling Millions.

As to introducing a corporate fiduciary into Ms. Astor's financial life, better late than never?

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