Our previous post noted that accused insider trader and former Goldman Sachs board member, Rajat Gupta, was connected to the Bill & Melinda Gates Foundation, as noted in the Puget Sound Business Journal, which reported that he is the “chair of the Global Development Program Advisory Panel for the Bill & Melinda Gates Foundation.”
Now there’s a bit more information about this foundation, also from the PSBJ. Seems the foundation is giving money, lots of money, to media corporations all around the world. The article includes a link to the Seattle Times, which has more info about the distributions.
There’s nothing wrong with giving your money away, but there is an awful lot to give in this case. Remember Warren Buffett also pledged to give the foundation several of his billions.
IFO may check into exactly what the “Global Development Program Advisory Panel” does. Could be veddddy interesting. And they are so proud of themselves, it’s highly likely that [most of ] their projects will be published there.
What IFO doesn’t get is – why is it so hard to find recipients? Medicine and education are the main pots that billionaires have thrown their money into in the past, but lately environmental organizations, media companies, and political maneuverings have been added. IFO suspects that the world of major philanthropy is a thick and murky place. See also: http://wp.me/p13fMw-bR
Even Carnegie’s libraries, which seemed like such a good idea, actually have a downside – putting bookstores and private lending libraries out of business and increasing municipal spending on salaries for librarians.
If those corporate magnates feel so bad about amassing all that money, why don’t they raise wages and increase dividends? Since the money would be re-distributed to millions of stockholders and employees, there is little chance of dark suspicions of undue political or financial influence on any sectors… Oh. Never mind.