"Philanthropy is embedded in the financial industry's culture, and firms pour millions of dollars to get their brands plastered on major institutions."
Oh, so the richers aren't doing it out of the GOODNESS of their HEARST, huh?
"Nonprofits gird for loss of funding; Fallout from collapse of Wall Street firms" by Jenn Abelson, Globe Staff | September 22, 2008
Some local nonprofits and charities fear they may lose millions of dollars in funding following the collapse of major Wall Street investment firms.
The Housing Partnership Network, a nonprofit affordable housing business alliance in Boston, has received more than $13.8 million in investments and grants over the past three years from Merrill Lynch & Co., millions more in funding from Fannie Mae and Freddie Mac, and insurance coverage for thousands of affordable units from troubled American International Group.
Why are TAXPAYER DOLLARS (Fannie, Freddie) giving TAXPAYER MONEY AWAY?!!!
Smaller charities are also bracing for the worst. At the Initiative for a Competitive Inner City in Boston, where Merrill has provided more than $100,000 annually, executives are waiting to see what the blow may be to the organization that promotes economic prosperity in US cities.
Pffftt! Well, not now.
The Joslin Diabetes Center in Boston is expecting to lose $25,000 from Lehman Brothers. And Boston charter school MATCH is starting off the year without $20,000 it was counting on from Lehman to fund a program to buy books every month for its 200 students.
Yup know, hooking ourselves into this corporate culture may have been a REAL BAD IDEA, huh, Americans?
Just as you NEED these charities, they WON'T BE THERE!!!!
Where did all the LOOT GO?
Shockwaves are being felt far outside the corporate world to nonprofits that have grown accustomed to major support from commercial banks and investment firms.
BAD IDEA!!!
Philanthropy is embedded in the financial industry's culture, and firms pour millions of dollars to get their brands plastered on major institutions. The fallout from last week's financial crisis will have short- and long-term impacts for nonprofits and charities. Struggling or acquired financial firms without a separate charitable foundation will have to decrease or stop giving entirely.
--more--"
And don't look to the U.S. government, Americans!
If it ain't for WARS, BANKS, or ISRAEL, they have NO MONEY!!!!!!
