Comments on: Colliding Interests: The Wall Street Bailout and the U.S. Nonprofit Sector http://www.nonprofitquarterly.org/cohenreport/2008/09/29/colliding-interests-the-wall-street-bailout-and-the-us-nonprofit-sector/ The Cohen Report is on the intersection of nonprofits, politics, and public policy. It is written by NPQ's National Correspondent, Rick Cohen, and published by the Nonprofit Quarterly. Thu, 15 Jul 2010 17:44:45 +0000 hourly 1 http://wordpress.org/?v=3.1.2 By: Rick Cohen http://www.nonprofitquarterly.org/cohenreport/2008/09/29/colliding-interests-the-wall-street-bailout-and-the-us-nonprofit-sector/comment-page-1/#comment-216 Rick Cohen Sat, 04 Oct 2008 17:29:04 +0000 http://www.nonprofitquarterly.org/cohenreport/?p=128#comment-216 Dear Melanie: How are these conflicts of interest tolerated? I think our society--and unfortunately even our sector--tolerates conflicts of interest if they work for our benefit and complains about them when, as in this case, they don't. Our diffidence to conflicts of interest is a serious problem as a society. Just look and see what ornaments on the pork barrel Christmas tree the nonprofit sector added to the bailout bill that was passed yesterday. It demonstrates that we'll turn a blind eye to the conflicts and more in the bailout package so long as we get to stick in the IRA rollover extension and so forth. We're all part and parcel of what's going on. When the first bailout bill went down to defeat, it was a show of no confidence by the American public, conveyed through their elected representatives. But the passage of the bailout this time around, loaded with $120b, maybe $150b of sweeteners, passed, because of some more palatable, self-serving conflicts of interest. I can see definite rationales for a major federal intervention in the financial markets, not to bail out the banks and investment houses, but to jump start the nation's necessary flows of credit and capital. But, in this ornamented bill that passed this week, it was the influence of lobbyists and the linkages to some nonsensical earmarks that won the day, not a considered response to the nation's burgeoning economic collapse. Thank you so much for your comment. Dear Melanie: How are these conflicts of interest tolerated? I think our society–and unfortunately even our sector–tolerates conflicts of interest if they work for our benefit and complains about them when, as in this case, they don’t. Our diffidence to conflicts of interest is a serious problem as a society. Just look and see what ornaments on the pork barrel Christmas tree the nonprofit sector added to the bailout bill that was passed yesterday. It demonstrates that we’ll turn a blind eye to the conflicts and more in the bailout package so long as we get to stick in the IRA rollover extension and so forth. We’re all part and parcel of what’s going on. When the first bailout bill went down to defeat, it was a show of no confidence by the American public, conveyed through their elected representatives. But the passage of the bailout this time around, loaded with $120b, maybe $150b of sweeteners, passed, because of some more palatable, self-serving conflicts of interest. I can see definite rationales for a major federal intervention in the financial markets, not to bail out the banks and investment houses, but to jump start the nation’s necessary flows of credit and capital. But, in this ornamented bill that passed this week, it was the influence of lobbyists and the linkages to some nonsensical earmarks that won the day, not a considered response to the nation’s burgeoning economic collapse. Thank you so much for your comment.

]]> By: Melanie Guin MNM http://www.nonprofitquarterly.org/cohenreport/2008/09/29/colliding-interests-the-wall-street-bailout-and-the-us-nonprofit-sector/comment-page-1/#comment-213 Melanie Guin MNM Fri, 03 Oct 2008 17:17:44 +0000 http://www.nonprofitquarterly.org/cohenreport/?p=128#comment-213 How are these conflicts of interest tolerated? And as a taxpayer, I can't believe we aren't receving any disclosure about what will be cut from the budget to accomodate this. Maybe it's the nonprofit-mindedness in me, but I'd rather see the govt helping out the common man than helping out these rich corporations. I have to pay for my mistakes. If I make my bed I lie in it. They should as well. www.charitynetusa.com/blog How are these conflicts of interest tolerated? And as a taxpayer, I can’t believe we aren’t receving any disclosure about what will be cut from the budget to accomodate this. Maybe it’s the nonprofit-mindedness in me, but I’d rather see the govt helping out the common man than helping out these rich corporations. I have to pay for my mistakes. If I make my bed I lie in it. They should as well.

http://www.charitynetusa.com/blog

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