The LA Times is running a multi-part investigation into the Gates Foundation. It seems the problems the foundation tries to remediate are made worse by the very investments it makes.
For example, the foundation gave 1.2 million to a nonprofit that counsels those fleeced by predatory lenders, yet has million dollar investments in the stocks of some of those same lenders.
Worse, although they fund millions in vaccinations in Africa, a worthy cause indeed, some of the areas where the vaccinations are given are choked with pollution from oil refineries and the like, which causes illnesses and respiratory problems. Yet the foundation has hundreds of millions of dollars invested in oil companies.
Unlike other foundations, they have an iron wall between investments and philanthropy. They shouldn’t. With a little effort, they could do socially responsible investing, and, as Peter Camejo, Green Party candidate for California governor and money manager shows, you can make more money that way too. But they don’t. This is hardly accidental. So the question is, why?
Pt. 2. Money clashes with mission