Democracy Now! Bill & Melinda Gates Foundation - Truth Revealed...

[bridgit]

Run time: 09:05 https://www.youtube.com/watch?v=Ttq0IdULfjg   Posted on YouTube: January 13, 2007 By YouTube Member: quebabe39 Views on YouTube: 26292   Posted on DU: February 09, 2007 By DU Member: bridgit Views on DU: 2377

 
'The Los Angeles Times has revealed the Bill and Melinda Gates Foundation has made millions of dollars each year from companies blamed for many of the same social and health problems the Foundation seeks to address. We speak with the lead reporter on the LA Times investigative team that broke the story.

The LA Times investigation reveals the Gates Foundation's humanitarian concerns are not reflected in how it invests its money. In the Niger Delta -- where the Foundation funds programs to fight polio and measles - the Foundation has also invested more than $400 million dollars in companies including Royal Dutch Shell, Exxon Mobil Corp, and Chevron. These oil firms have been responsible for much of the pollution many blame for respiratory problems and other afflictions among the local population.

The Gates Foundation also has investments in sixty-nine of the worst polluting companies in the US and Canada, including Dow Chemical. It holds stakes in pharmaceutical companies whose drugs cost far beyond what most AIDS patients around the world can afford. Other companies in the Foundation's portfolio have been accused of transgressions including forcing thousands of people to lose their homes; supporting child labor; and defrauding and neglecting patients in need of medical care.

Overall, the LA Times says nearly $9 billion in Gates Foundation money is tied up in companies whose practices run counter to the foundation's charitable goals and social mission. And that number may be understated - the Gates Foundation has not provided details on more than four billion dollars in investments it says are loans.

The Gates Foundation refused to talk to the LA Times about specific investments and whether it planned to change its practices. We also contacted the Gates Foundation for comment but we did not get a response.

Charles Piller, the lead reporter on the Los Angeles Times investigative team that broke this story. He joins us from Los Angeles.

Find out more here on my blog: http://naturalchildhood.blogspot.com Campaigning for Children's human rights.'

Bill & Melinda Gates Foundation - Truth Revealed Part 2

[lonestarnot]

1. hmmmm. Whasup with this?

Is it knowingly making bad investments or accidentally screwing up, or no oversight or what?

[havocmom]

2. Crime (against humanity) pays

That will be mankind's undoing.

[hughee99]

3. I don't think they're "bad" investments in that

Oil and big Pharmaceuticals have made substantial profits, and thus more money for the people the foundation is trying to help. If they were to pull their investments, would oil companies pollute less? Would drug prices drop? IMHO, these companies would continue to screw the same people they are now, at the same rate they are now. At least the profits they generate for the foundation are being used to help people. Certainly I agree that if there were socially conscious investments with better returns he should be investing in them instead.

If he has a sizable stake in these companies, I'd see him use his clout to try to get those companies to reform their ways, but I don't think that's going to happen any time soon.

[rman]

4. Helping the same corporations that create the poverty

and pollution the Foundation is supposedly fighting against, instead of opposing those corporations.

[hughee99]

9. So if he invested elsewhere...

would these corporations create less pollution and poverty, or would the foundation just have less $$ to help address these problems?

Ideally, I'd like to see the people from the Gates foundation use their influence on these companies at the shareholders meetings, but I don't think that's going to happen.

[rman]

10. I to think the Gates Foundation will not oppose those polluters and

disseminators of poverty, but will rather continue to support them by investing in them.

[lonestarnot]

19. Silence certainly kills and so does doing nothing sometimes.

This doing nothing is evidence of support of their evil ways. Shame shame on you Gates!

[beachmom]

15. Exactly. I had no idea that stockholders are now guilty of

crimes against humanity. I guess we're ALL sinners now, since most of us have 401ks that hold mutual funds that purchase these stocks. If I want to read righteous indignation, I'll happily hop over to the Christian Broadcasting Network by me, not DU. This attack is BS.

[bridgit]

23. naw, that don't fly straight; if you could make $10,000 from a $1,000...

investment in 6 months would you do it? would you do it if you were told that 100 pre-teen boys & girls had to be made crack & heroin junkies to meet that goal? would you do it if your proviso was that you did not care to hear by what means the profits were gained? or would you do it because if you didn't make $10,000 profit by turning 100 pre-teens into crack & heroin junkies someone else would?

it may be better to believe like nothing else that there are indeed "socially conscious investments with better returns" http://www.solari.com

[bridgit]

6. dunno; prolly good cop/bad cop, burning both ends of the candle...

playing all sides against the middle in the course of maximizing profits...

i think it would be a stunning eye opener to witness the extent to which large pools of capital feeds on itself to procreate as the piece i.e. indicates = funding poor people & pharmaceuticals to then fund Big Oil that makes them sick so that they can't afford the treatments *because* their poor stuff like that; it's crazy non-sensical shit but many would say,

"Well hey!! It's capitalism, they should have every right to do what they want with their money and make profits." ok...

Gates is an smiley, easy going billionaire guy (i'd be easy going too sitting on a mountain of money), but he and his cohorts are rather well known for being ruthless cut-throat business types

[bridgit]

5. whoopsy...

x(

[goddess40]

7. I wish I could say I am surprised - but I'm not

Someone who makes millions overcharging for their product simply because they can, then donates millions of those dollars to charity - money they won't miss, won't effect their day to day living in any way - and than wants the world to bow down at their feet in worship isn't a wonderful person.

[shirlden]

8. I second that

If Gates would just give me back the money he has taken from my pocket due to his "business practices", I would happily give it all to a charity of my choice.
Gates is in the top five of my POS list.


:puke:

[emulatorloo]

11. kick and rec n/t

[Dammit Ann]

12. Another reason I'm a mac girl.

Bill Gates.

[Celebration]

13. interesting

I wouldn't be surprised if some of my own self directed 401k money is invested in funds that invest in polluters, etc. The system is just that ****ed up. The Gates Foundation has more clout to fight the system than I do. It is a good idea to point this out to large foundations, and put pressure on them to support changes.

However, Gates probably doesn't want the same pressure on Microsoft. Even though they overcharge for products, though, you can't really say they oppress the very poor or cause lung problems.

I would love to see a series of articles on things like this. If that doesn't happen, the story will be a one day wonder.

[beachmom]

14. This is why I don't watch Democracy Now! Thank you for reminding

me. They always go after people who are trying to do the right thing, but not perfectly or purely enough for St. Amy. Ask the child in Africa who now has a mosquito netting that will save him from malaria whether he gives a fuck if some of the proceeds that paid for it came from dividends from Exxon Mobil. The point is the Gates foundation is SAVING LIVES, and they would probably be investing in these companies whether or not they were doing the philanthropy, so that is a NET GAIN for Africa.

[rman]

16. How would you know about DN reporting if you don't watch it?

And how come you repeat such RW propaganda?

[beachmom]

18. I used to watch it, and I am not repeating RW propaganda but

my own thoughts. Look, they do good work on exposing human rights violations around the world, but they have a bias of their own which I find infuriating. Bill Gates is evil while Chavez is good. Yeah, right. I stopped watching when Amy Goodman interviewed Chavez three days in a row without any real rebuttal. It was totally gratuitous, and that immediately arose my suspicion. And now here with this story, it's the big conspiracy theory of how evil Bill Gates is. Bill Gates is neither infinitely good nor infinitely evil. He is a complex figure who has become a much better person since he started this foundation. What he's doing is making a difference, and it just angers me that he's a target of DN! for not being perfect, while there are other figures who are truly detrimental to other countries.

Agree to disagree, of course, but seriously, I have read nothing from the Right about Democracy Now! or Amy Goodman, so I couldn't possibly be repeating their propaganda.

[bridgit]

22. "always go after people who are trying to do the right thing" please consider the following...

under the auspices of "feeding the world" (who could, who would argue with that), Bill & Melinda Gates have invested heavily in GMO's; there is not enough study to warrant the thrust into a field that has the potential to dump humanity's ability to process daily protein internally in lieu of a handful of profitable synthetic hybrids; these are matters quite beyond what may seem the right thing to do, these are primordial process' that have sustained the human race since the dawn of time itself that are being tampered with for the essential benefit of BigAgriBizz make no mistake

many are able to dislike DN for a host of right-wing reasons, but their, DN's, expose' into nefarious doings, worldwide & stateside, are known for what they are: informative, again please consider you are of course encouraged to do your own research

http://www.slogefree.org/newsletters/News_Item.2004-12-13.4946

http://www.gmoafrica.org

http://en.wikipedia.org/wiki/Genetically_modified_organism

GMO's have already compromised long, long since certifiable organic farming concerns to the extent that they are no longer able to gain certification simply because these matters are blown on the wind...

but my question, rather quite beyond DN is: why are so many "right things to do" being perpetrated upon the inhabitants of an already distressed Africa? and where would you have otherwise found out such a project?

you would certainly not have heard, or read about it from an Exxon/Mobil share holder's quarterly prospectus

[hughee99]

17. How is this any different from the windfall profits tax that

many DUers seem to like? If the government thinks the company is doing something wrong or illegal, the government should REGULATE IT not PROFIT FROM IT as they would with the windfall profits tax. Yes, the government is then expected to, in turn, use some of that money to address the problems that industry creates. As I see it, this is basically the same thing the Gates foundation ends up doing in these situations. Gates just doesn't have the power of the federal government to enable him direct access to those companies profits.

[AX10]

20. Oh this is hillarious!

So many Duer's have no problem with Merck making money off of their cervical cancer vaccine under the guise that it will do good (without any side effects), yet, there is nothing but hate and anger at the Gates Foundation. They are doing good things, but there is a question as to where the money is coming from.

Hypocracy any one?

[bridgit]

25. nonsense anyone...

so you wipe out the entire economic system of the Nigerian Delta so you can have new & improved Windows Vista copy/paste function...cool, whatever floats your sampan

[lumpy]

21. It is my understanding that Bill Gates, Jr. is now going to devote

all his time soley to running the Gates Foundation probably due to pressure from stories like this.

[cynthia]

24. We all have a responsibility to look into our investments

And if Bill Gates doesn't have time to research these issues, he should hire someone to investigate for him, so that his investments match his principles. I, for one, do not have the time to do all the research behind where my employer puts my retirement funds, but I can opt for a "socially responsible" mutual fund who can do that research for me.

Now if Bill Gates principles dictate that the oil companies should profit no matter how much they pollute the environment, then he can keep doing what he is doing. Knowledge is power, and Money plus knowledge talks even louder. Bill Gates can make a huge difference at those stock holder meetings if he chooses to use that power.