This article posted today on the CNN website is a handy guide to “reputation laundering” by Russian and American oligarchs. We knew about the Sacklers, who put their name on prestigious institutions for years to wash away the stain of the opioids that made them billionaires. Then there is pedophile Jeffrey Epstein, who bought his way into MIT. And now there is a panoply of Russian oligarchs, who became wealthy during an era of massive corruption in the transition from the Soviet Union to Russia. They are philanthropists now.
Diane Thanks for posting this. I am totally charmed by these people. Maybe they might want to take a few courses while they are at it, . . . ethics, perhaps? or history, or philosophy . . . maybe something in gender studies . . . whatever, to fill their cheap time. Just some thoughts as I try to steer myself away from being drowned in historical irony. CBK
While embarrassing for the institutions that took dirty money, very few offered to return it.
Diane Though the whole corrupt thing is despicable, and moving beyond the political, maybe not so oddly, some good is still being served insofar as education is being better funded. . . I think everyone’s awareness is the key, and subsequent institutional changes, even if some don’t deserve to get a “pass.” CBK
From the article: “But there’s something else these donors share that other well-heeled benefactors do not: Deep financial ties to Russia.”
Just like Putin’s dog, Trump
What Putin’s oligarchical stooges did to the Russian people his happening under the guise of privatization and tax subsidies in the United States. It is no surprise that our top private universities are so willing to belly up to the bar.
Paul writes: “What Putin’s oligarchical stooges did to the Russian people his happening under the guise of privatization and tax subsidies in the United States. It is no surprise that our top private universities are so willing to belly up to the bar.
I heard again yesterday stalwart Republican who is NOT right-wing, speak of his own conservative values, and include “less government regulation” in his remarks. I cannot keep my eyes from rolling whenever I hear “deregulation.” Then I remember reading Upton Sinclair’s “The Jungle.”
But certainly we don’t need to reach back that far. As Roosevelt knew, and as is now so obvious, it’s a choice between government regulation (for the people) and the character and conscience of “our” oligarchs.
In a democracy, if the latter is lacking in the rich among us, it’s de facto an open invitation for regulations to, as you say, “belly up to the bar.” But then, that’s the ENTIRE point: Democracy or not. CBK
Thanks, CBK. Great comment.
There is a great deal of animosity directed at the federal government by conservatives. Grover Norquist wanted a “government so small, you can drown it in a bathtub.”
retired teacher Yes, and oligarchs DO want government power to work, as long as it serves their oligarchic needs, . . . or racist, or sexist, or power-grabbing (fill in the blank) ANYTHING BUT The Peoples needs. But NOT where it “interferes” with their one-horse $$ corporate intentions.
I truly don’t believe it’s “the case” in every case; however, it’s tending way beyond any kind of balance or norm that fits into even a quasi-democratic framework. CBK
Perhaps we should be funding our ‘education system’ in a different way?
The Oiligarchs
The Oiligarchs are oily
And slicker than a snake
They hide beneath a doily
And offer you some cake
They whine about the handouts
With both hands out for theirs
They really are the standouts
In public funds affairs
They set up large Foundations
For legal tax evasion
That garner adorations
From presidents of nations
They gripe about the tax rates
For billionaires like them
For folks like Musk and Billy Gates
And Bezos and his friends
Except in years when naught is paid
Which happens all the time
And then the only thing that’s said:
“I didn’t earn a dime”
You’ve been missed, Poet.
Wonderful, SomeDAM!
They needn’t pay taxes since their money is so clean after they put it through foundations, their magic money laundering machines.
The rich and powerful have been throwing money at walls to rinse away the stain of their moral and legal crimes for centuries. Then after they are dead, legitimate, reputable historians do their homework and write books about them, revealing how horrible they really were.
For instance, “when business legend John Jacob Astor died in 1848, he was hailed as a titan of trade and praised as a sharp salesman with a taste for philanthropy.”
But how many people know where John Jacob Astor’s wealth came from?
An avid reader of historical novels and nonfiction books might know the answer. I do and he wasn’t the only one to establish fortunes selling opium to the Chinese. Other wealthy families in the United States also gained their family fortunes in the opium trade, then laundered the truth by creating a philanthropy rug to hide it.
https://www.history.com/news/john-jacob-astor-opium-fortune-millionaire
https://cdapress.com/news/2017/apr/02/the-china-connection-of-five-great-american-5/
There’s a lot more published history about the U.S. opium barons of the 19th century. The UK and other European countries with colonial empires had their share, too.
China fought two wars attempting to stop that opium trade and lost both.
Good stuff, Lloyd. Thanks.
It never ceases to amaze me…once deceased, we are saints.
Good for the goose, good…