Citicorp's donations


Look at the causes it supported. Does that have anything to do with the decision to bail it out?
Oh my.

This doesn't come from one of my usual sources. That being said, I checked. The numbers are right on.

AND IF EVER THERE was a company that didn't deserve a bailout, it's Citigroup, a Big Government lovers' bank that funds just about every trendy left-wing cause in America.

Long before it started drowning in red ink, the poster child for so-called corporate social responsibility was a longtime donor to left-wing pressure groups such as Jesse Jackson's Rainbow/PUSH Coalition and Henry Paulson's Nature Conservancy. In tax year 2003, Citigroup's foundation gave 20 times more money to groups on the left than to groups on the right, according to Capital Research Center's 2006 study of Fortune 100 foundation giving. (Foundation Watch, August 2006). 

Citigroup's foundation has given a staggering $1.4 million to the alarmist World Resources Institute, as well as $509,000 to ACORN in recent years. The ACORN funding included a $500,000 grant to ACORN's American Institute for Social Justice, which offers Saul Alinsky-style training in community organizing. Other donations to liberal groups include the Aspen Institute ($762,500), Rainbow/PUSH ($750,000), Nature Conservancy ($380,000), Rainforest Alliance ($200,000), and the Council on Foreign Relations ($50,000).

The company's 7th Annual Citizenship Report is a dazzling compendium of all the supposed good works Citigroup claims to be doing -- with its shareholders' money. It includes reports on its commitment to diversity and to "sustainable" economic development, along with friendly greetings from Mindy Lubber, president of Ceres, the enviro-leftist investment network, and Janet Murguia, head of the liberal National Council of La Raza.

Now, none of this matters as long as Citicorp remains a private entity. But once it receives bailout money, it effectively becomes a public entity. Considering that ACORN alone is still under FBI investigation for election shenanigans, I would look very carefully at that list.

It raises some interesting questions. Does a company only get bailed out if it has donated to the right political causes?

Somehow the shit just keeps getting deeper.

— NeoWayland

Posted: Tue - November 25, 2008 at 02:16 PM  Tag


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