Monday, 7 July 2014

Foundations

Sometimes, I'll point out the obvious, which news investigations refuse to touch.  Over the past couple of weeks....there's been comments made nationally about the speech fees that Hillary Clinton charges at public settings.  This erupted out of a college speech....where she was paid $200,000 to come down and speak for an hour or two.

To defend the pricing method....it came out late last week that the fees all go into a Clinton foundation.  The foundation turns around and dispenses the money gained to various charities that the Clintons favor.

So you'd look at this and say it's all fair.

Then you kinda ask.....who runs the foundation, and what all does the foundation pay for?  Well....that's the catch.

You see....if you are wealthy enough....you find the right team and build your own foundation.  The foundation can go out and buy a condo in New York City.....where you the head of the foundation will stay on various nights.  They might also buy a condo in Miami, and a condo in Chicago....all for the best interest of the head of the foundation.

Then the foundation might hire friends of yours....or their kids....to pay them hefy incomes and pretend to work or produce something of value.

Then you might use the foundation to hand out five or six scholarships a year.....to Georgetown University (figure $40,000 a year for tuition).

Foundation abuse can go to various extremes.  You might notice that most all of the major sports players in the US.....all have foundations.  They utilize them to help cover taxation issues and provide some type of protection for their capital assets.

As for the university stupid enough to pay $200,000 for Hillary Clinton?  I can't think of that much that she would share....making it worth even $20,000.  For that matter....other than Bill Gates, Warren Buffett, or Doctor Ben Carson.....I can't think of too many folks that ought to be paid more than $100,000 a speech.  Yeah, someone at the university ought to sit down and explain the fee business and how much they send out per year on fees.  It might explain the $18,000 a year for tuition, or the high cost of a on-campus apartment.

So, generally foundations are creations of some design....which probably aren't the purest of things that exist.