If Goldman Sachs wants to redeem its reputation, it would have to donate "at least $1 billion" to charity, says billionaire Pete Peterson. "'Only a donation that size would 'have much resonance in the public,' Peterson, the 83-year-old co-founder of Blackstone Group LP, the world's largest private-equity company, said…

Reality TV brat PC Peterson is said to have deeply upset his grandfather, financier Pete Peterson, over his obnoxious performance on Bravo's NYC Prep. But just because his grandfather is a billionaire doesn't mean PC was necessarily raised living in the lap of luxury.

NYC Prep debuts this evening on Bravo and although the schools that the bratty kids attend in real life—Dwight, Nightingale-Bamford, Birch Wathen Lenox, the Ross School, and non-private Stuyvesant—aren't mentioned by name on the program, some administrators at private schools around town are now talking about…

Plenty of reality programs promise to show us how the rich and powerful live their lives. Very few actually end up doing that, of course. The women featured on the Real Housewives of NYC weren't part of the city's social elite before they humiliated themselves on national television—nor were they all housewives…