Hi Gang,
You may have noticed a recent event that could be the landmark event of the young 21st Century. Warren Buffet has donated nearly $40 Billion to the Bill and Melinda Gates Foundation. This donation will nearly double the already enormous philanthropic organization. NPR reported today that the Gates Foundation already spends more money in Africa than the main United Nations aid/development organizations. Here we have a private foundation funded by two men that will do more to help man kind than all the states and all the intergovernmental organizations in the world. The days when states dominated the world utterly are long gone.
In other news, Mr. Buffet is also calling for Congress to retain the Estate Tax!!! It seems that the American who would most benefit from its repeal recognizes the need for it!
Monday, June 26, 2006
Noblesse Oblige
Posted by Raised By Republicans at 7:08 PM
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5 comments:
In an interview tonight, a friend of Buffet's said that Warren does not believe in inherited wealth. This is why he is giving his money away rather than willing it to his family. In addition, she said Warren hates meetings and would not have the patience to sit through all the meetings and to listen to all the opinions of specialists. So this is why he is giving it to Gates. He has specified that the money must be spent when given, it can't be bank rolled for future projects. Take note that Gates himself recently stepped aside at Microsoft in order to work full time on his Foundation.
Apparently, the Gates Foundation has a pretty strict set of measurable goals that projects must accomplish. An example givien was the child vaccination project. Gates considers that project a success when the reciepient government start funding vaccinations themselves. The Foundation won't fund that type of thing indefinately.
My question: Is Buffet ill or planning to dye soon?
// posted by UNWest
I have relatives in Omaha, Nebraska and I've seen Buffet's house there. It's a fairly reasonable suburban house. It's big but it's not the biggest one on the block and there are local doctors and lawyers who live more extravegantly than he does.
I do have a strike against Buffet though. He was duped early on by Governor Muscles. I believe he's since distanced himself from California's Governor but he was on the team that legitimized that little coup d'etat.
// posted by Raised By Republicans
Unfortunately, the lesson we will soon be learning is that Big Philanthropy can be as corrupt, bureaucratic, and bloated as Big Business or Big Government. Maybe not today, maybe not tomorrow, but soon we will hear of a scandal of waste at the Gates foundation. Nothing inspires bad management like free money.
Buffet would have done better to have created his own foundation with oversight. Ask the Gettys what they did, then do something else.
// posted by LTG
Buffet is a stand up guy. As he campaigned for the now-Governator before the recall election, he got a lot of heat for suggesting that Prop 13 should be repealed. This sensible idea is at least worth debating in civilized tones. However, Prop 13 is more sacred than the 10 commandments to many Californians. Buffet got so much heat that he had to distance himself from Schwarzenegger to protect his friend's candidacy.
// posted by Spiny Norman
Let's talk corruption in the non-profit sector: Red cross ring any bells?
Wherever there is money, there is corruption. And as organizations age, they need to restructure and adapt to new environments. Some manage to do so without too much trouble, others struggle. The Red Cross is struggling. So eventually the Gates Foundation will struggle because it will have to limber enough and durable enough to adapt. Microcsoft has managed to do that- not always successfully, and the Gates Foundation will too.
// posted by USWest
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