Think Progress

$10 million.

By Amanda Terkel on Aug 24th, 2006 at 2:25 pm

Donations raised for Katrina relief by U.S. school children — “more than [the amount] almost every major U.S. corporation gave.” (Only Wal-Mart, Federal Home Loan Bank of Cincinnati, Exxon, Freddie Mac, and BP Amoco gave more.)

Comments
16

16 Responses to “$10 million.”

Barfly says:

Will the schoolkids get to write their contributions off on their parent’s taxes?

I didn’t think so.
August 24th, 2006 at 2:32 pm
onthefence says:

and what exactly will this money be used for? Expensive dinners for FEMA officials or to buy another 1000 trailers to rot in the hot sun without occupants?
August 24th, 2006 at 2:47 pm
Steve53 says:

Wal-Mart gave big?

Their employees will be paying for that “generosity”,somehow.
August 24th, 2006 at 2:51 pm
Bruce Gorton says:

America still has a lot of good kids.
August 24th, 2006 at 3:21 pm
Sharon Cox says:

Only in America….Blessings
August 24th, 2006 at 3:26 pm
Marie says:

#4, BG,
Yes, and we are trying like hell to preserve our country for their future. They are tomorrow’s leaders.
August 24th, 2006 at 3:45 pm
Massachusetts Liberal says:

Wow.
August 24th, 2006 at 4:30 pm
rob says:

Damn evil corporations and their windfall profits. Wal-Mart and 2 oil companies gave more than just about any other company IN THE WORLD to this relief effort……. I guess that’s why no one seems to want to comment on this post.
August 24th, 2006 at 6:03 pm
theswan says:

The goverment means nothing anymore. The Republicans made it irrelevent. “Mission accomplished”.
Don’t worry the five year olds will pick up the Neocon’s bill. It will await them at every turn. They are just priming for the future.
They see and hear and communicate, unlike the lawmakers of this country.
I hope the kid have some impact with these assholes but I figure that they will hardly be noticed. Like everyone else.
The “Plan B” cabal would screw their own kids.

Prep for war kids.
August 24th, 2006 at 7:37 pm
James says:

Freddie Mac is one of the parties that will benefit most from a N.O. recovery. They ‘repackage’ home loans, ie, your loan is sold by your mortgage company to Freddie or Fannie and then ‘packaged’ into a security that is subsequently sold on the market. Because Freddie and Fannie have limitations on the amount of a loan they can purchase N.O. seems to be ‘prime’ for them (as well as the rest of the area). This goes for people buying houses up to around 360k…

Anyway, given that they have engaged in accounting fraud (Fannie & Freddie) and paid massive fines to the federal government 10 mil is nothing. It will help ensure that homes are rebuilt more quickly (which is good for them). It might also lead to secondary effects, like a revitalization which would also be good.

Their reason for existence is bogus anyway – it may have been okay when they were founded but the markets exist now that their role is somewhat of a joke. Their accounting practices and executive compensation are as well (these companies have a guarantee from the federal government to bail them out if something goes wrong – which outweighs any small reduction in interest rates which actually don’t exist…freddie and fannie have the pricing power right now which is a negative).

Kudos to the school children (and their parents).
August 24th, 2006 at 9:06 pm
James says:

Umm, Wal-marts employees might actually benefit from the firms generosity in that if rebuilding is done more quickly and people return they won’t lose their jobs due to a permanent reduction of citizens in hurricane devestated areas.

As for their wages in a place like N.O. it’s a job, the people have lost quite a bit, and having low prices is probably a good thing – like right now. You could debate that later when the people are ‘back’ but since they probably had an income ’shock’ Walmart does help make up for some of that due to lower prices…
August 24th, 2006 at 9:09 pm
Steve53 says:

Umm, Wal-marts employees might actually benefit from the firms generosity in that if rebuilding is done more quickly and people return they wonâ€™t lose their jobs due to a permanent reduction of citizens in hurricane devestated areas.
————-
Hmm.That’s a stretch.

Don’t kid yourself that Wal-Mart’s generosity is little more than a PR move…not that the money won’t help–it will,of course.

Research Wal-Mart’s exploitive practices,and discover the real cost of saving the average Wal-Mart shopper 600 dollars a year.

And by the way,suppliers have to meet Wal-Marts tough cost requirements–so they often have to compromise build quality to do so.
The result:premature product break-down.Much of the so-called savings are in fact not savings at all.
August 25th, 2006 at 1:01 am
Otherworld » So tired of these mother %#@%^@#%# snakes…. says:

[...] $10 Million: Donations raised for Katrina relief by U.S. school children- “more than almost every major U.S. corporation gave.” (Only Wal-Mart, Federal Home Loan Bank of Cincinnati, Exxon, Freddie Mac and BP Amoco gave more.) Kinda gives you the feeling that a lot of people don’t really want that area to recover, doesn’t it? “We all know that when things are going really poorly for the Administration, to keep those negative things out of the news, they trying to put something else in the headlines — like gay marriage, the flag amendment, or maybe they raise the terror level up one color. But what I want to know is, how did they get this guy, Karr, to confess to the JonBenet murder?” [...]
August 25th, 2006 at 8:27 am
beefeater says:

Donâ€™t kid yourself that Wal-Martâ€™s generosity is little more than a PR moveâ€¦not that the money wonâ€™t helpâ€“it will,of course.

While I can’t shop at Walmart, way to many brown skinned people there, I don’t begrudge them their business. Someday they will pass too.
August 25th, 2006 at 2:49 pm
loan corporation says:

loan corporation

Interestingly, this was on CNN last week.
March 26th, 2008 at 12:03 pm
Jessie says:

Jessie

Good Luck..
April 11th, 2008 at 2:00 pm

$10 million.

$10 million.

16 Responses to “$10 million.”

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