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In Mandy Len Catrons Modern Love essay, To Fall in Love With Anyone, Do This, she refers to a study by the psychologist Arthur Aron (and others) that explores whether intimacy between two strangers can be accelerated by having them ask each other a specific series of personal questions. The 36 questions in the study are broken up into three sets, with each set intended to be more probing than the previous one. The idea is that mutual vulnerability fosters closeness. To quote the studys authors, One key pattern associated with the development of a close relationship among peers is sustained, escalating, reciprocal, personal self-disclosure. 1. Given the choice of anyone in the world, whom would you want as a dinner guest? 2. Would you like to be famous? In what way? 3. Before making a telephone call, do you ever rehearse what you are going to say? Why? 10. If you could change anything about the way you were raised, what would it be? 14. Is there something that youve dreamed of doing for a long time? Why havent you done it? 17. What is your most treasured memory? 18. What is your most terrible memory? 31. Tell your partner something that you like about them already. 32. What, if anything, is too serious to be joked about? 36. Share a personal problem and ask your partners advice on how he or she might handle it.
Note: Read all the questions from this fun and revealing exercise at the link above. And you can find there a free app to download these great questions for your cell phone, too.
Material things are unlikely to boost our happiness in a sustained or meaningful way. In fact, research suggests that materialistic people are less happy than their peers. They experience fewer positive emotions, are less satisfied with life, and suffer higher levels of anxiety, depression, and substance abuse. How can we avoid falling into the unhappiness trap of materialism? One answer has been emerging from social science: Cultivate a mindset of gratitude. In the early 1990s, researchers Marsha Richins and Scott Dawson developed the first scale to measure materialism rigorously. People who score high on Drs. Richins and Dawsons scale score lower on just about every major scale that scientists use to measure happiness. Earlier this year, Jo-Ann Tsang of Baylor University and her colleagues surveyed 246 undergraduate students to measure their levels of materialism, life satisfaction and gratitude. Their results ... show that as materialism increased, feelings of gratitude and life satisfaction decreased. The relationship between materialism and gratitude can run in the opposite direction. A 2009 study led by Nathaniel Lambert, now of Brigham Young University, found that inducing gratitude in people caused a decrease in materialism. Dr. Lambert and his colleagues were able to increase gratitude in their participants by instructing them to focus on appreciating the good things they had been given in life, then write about what came to mind.
Note: The complete article presents several approaches to cultivating gratitude in everyday life. Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
According to public disclosures, by giving just 12 speeches to Wall Street banks, private equity firms, and other financial corporations, [Hillary] Clinton made $2,935,000 from 2013 to 2015. Clintons most lucrative year was 2013, right after stepping down as secretary of state. That year, she made $2.3 million for three speeches to Goldman Sachs and individual speeches to Deutsche Bank, Morgan Stanley, Fidelity Investments, Apollo Management Holdings, UBS, Bank of America, and Golden Tree Asset Managers. To put these numbers into perspective, compare them to lifetime earnings of the median American worker. In 2011, the Census Bureau estimated, that across all majors, a bachelors degree holder can expect to earn about $2.4 million over his or her work life. A Pew Research analysis published the same year estimated that a typical high school graduate can expect to make just $770,000 over the course of his or her lifetime. This means that in one year - 2013 - Hillary Clinton earned almost as much from 10 lectures to financial firms as most bachelors degree-holding Americans earn in their lifetimes and nearly four times what someone who holds only a high school diploma could expect to make. The Associated Press notes that during Hillary Clintons time as secretary of state, Bill Clinton earned $17 million in talks to ... financial firms.
Note: For more along these lines, see concise summaries of deeply revealing news articles about corruption in government and in the financial industry.
28 still-classified pages pages in a congressional inquiry on 9/11 ... raise questions about Saudi financial support to the hijackers in the United States prior to the attacks. Both the administrations of George W. Bush and Barack Obama have refused to declassify the pages on grounds of national security. But [some] members of Congress who have read the pages ... say national security has nothing to do with it. Former Florida Senator Bob Graham, a Democrat who co-chaired the joint investigation of the House and Senate intelligence committees into the Sept. 11 attacks ... maintains that nothing in them qualifies as a legitimate national security secret. The 2002 joint congressional committee probe [Graham] co-chaired reported only that, contacts in the United States helped hijackers ... But in an interview with Newsweek, Graham said the contacts were Saudis with close connections to their government. The Florida Democrat charged that there has been an organized effort to suppress information about Saudi support for terrorism, which "started long before 9/11 and continued ... after 9/11. ISIS ... is a product of Saudi ideals, Saudi money and Saudi organizational support, although now they are making a pretense of being very anti-ISIS, Graham added. The two co-chairman of ... the 9/11 Commission, likewise urged the White House to declassify the 28 pages. Im embarrassed that theyre not declassified, former Rep. Lee Hamilton (D-Ind) said at a press conference with his co-chair Tom Kean, the former Republican governor of New Jersey. Meanwhile, Washington and the Saudi royals still maintain their decades-long, cozy relationship.
Note: Several current and former government officials are trying to expose the Saudi government money behind ISIS and other terrorist groups. For more along these lines, read concise summaries of deeply revealing 9/11 investigation news from reliable major media sources.
Alfredo Rodriguez, the butler of convicted sex offender Jeffrey Epstein, has died, and with him the location of a black book, which allegedly details the full scope and the extent of Epsteins involvement with underage girls, and contact details of the businessmans celebrity friends. Rodriguez died at the age of 60 after suffering from mesothelioma last week, his widow Patricia Dunn [said]. Dunn alleges that her late husband knew all about Prince Andrew, who has been named in the current sex scandal centering on Epstein. Allegations leveled at the Prince are that he was supplied with a teenage girl who was used by Epstein as a sex slave. The black book that Rodriguez had in his possession [was a] journal in which Epstein is understood to have detailed the girls which attended his properties for massages for him and his friends, and details of his celebrity friends and associates who had no connection with alleged offences, including Bill Clinton and Donald Trump. Rodriguez, who stole the book, claimed he needed it as insurance against the businessman to protect his own life. The butler failed to tell prosecutors he possessed the book and later refused to hand it over. He was jailed for 18 months for attempting to sell it for $50,000. In 2011 it emerged that the journal detailed the full scope and the extent of Epsteins involvement with underage girls, according to prosecuting lawyers, who referred to it as The Holy Grail.
Note: If the above link fails, this article is available in the Internet Archive. Read a collection of major media reports on billionaire Jeffrey Epstein's child sex ring which directly implicate Donald Trump, Bill Clinton, and other world leaders. For more along these lines, see concise summaries of deeply revealing sexual abuse scandal news articles from reliable major media sources.
A federal court filing accuses ... Prince Andrew of having sex in three countries with the self-described sex slave of an American financier, Jeffrey Epstein. The lawsuit that mentions these charges [targets] the U.S. Department of Justice. The case [started] in 2005, when Florida police began investigating claims that Epstein was paying underage girls for sex at his West Palm Beach home. Investigators uncovered evidence that more than a dozen girls may have been victimized by Epstein. The Justice Department agreed to a deal with Epstein that required him to plead guilty to two state charges, including a single count of solicitation of minors for prostitution, to register as a sex offender and to serve a short jail sentence. In exchange, the U.S. Attorney agreed to drop any further prosecution. The agreement also said that the parties anticipate that this agreement will not be made part of any public record, an unusual condition for such a criminal plea. The [deal] shocked several of the victims. The case has been now been ongoing for six years, with more than 280 filings. In legal filings, Edwards [a Florida trial lawyer] and Cassell [a victims' rights advocate and former federal judge] have questioned [the] pressure on the U.S. Attorney to keep the case from trial, either from Prince Andrew or former President Clinton, who travelled with Epstein on his private plane at the time but has not been accused of wrongdoing. The elephant in the room is this: How does a guy who sexually abused 40 girls end up doing basically one year in a halfway house, says Cassell.
Note: This is the second recent child sex scandal connected with UK royalty. Watch powerful evidence in a suppressed Discovery Channel documentary showing that child sexual abuse scandals reach to the highest levels of government. For more along these lines, see concise summaries of deeply revealing sex abuse scandal news articles from reliable major media sources.
A Saudi billionaire has announced one of the biggest philanthropic gestures in history, promising to donate all his $32bn (20bn) wealth to charity over the coming years. Prince Alwaleed bin Talal, a 60-year-old magnate who is a nephew of the late King Abdullah, said he would channel the money through his own Alwaleed Philanthropies organisation. The money will go to programmes promoting health, eradicating disease, modernisation, intercultural understanding and empowering women, he said. This donation will be allocated according to a well-devised plan throughout the coming years, the prince said in a statement. Philanthropy is a personal responsibility, which I embarked upon more than three decades ago and is an intrinsic part of my Islamic faith. With this pledge, I am honouring my life-long commitment to what matters most helping to build a more peaceful, equitable and sustainable world for generations to come. The princes move will be modelled on the Bill and Melinda Gates foundation, which last year donated $4bn to various causes. Gates said Alwaleeds decision is an inspiration to all of us working in philanthropy around the world. Gates, who set up his foundation in 2000, has signed up more than 100 billionaires, including Mark Zuckerberg, Michael Bloomberg, Richard Branson and George Lucas, to giving away half their fortunes to charity.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
The FBI allegedly possesses "secret documents" about the American billionaire [Jeffrey Epstein] that could provide evidence for under-age "sex slave" accusations against him, [which include] forcing a 17-year-old girl to have sex with Prince Andrew, Duke of York. FBI documents are said to show that Epstein controlled under-age girls who could provide evidence about the claims. In May last year, prosecutors surrendered 541 pages of correspondence with Epsteins lawyers leading up to a 2008 non-prosecution agreement. A letter released by the court last year showed Brad Edwards, [alleged victim Virginia] Robertss lawyer, telling the US attorneys office that Epstein "may be the most dangerous sexual predator that the country has ever seen". The letter continued: "The evidence suggests that for at least four years he was sexually abusing as many as three to four girls a day. "He uses his extraordinary wealth and power to lure in poor, underprivileged little girls and then also uses his wealth to shield himself from prosecution and liability." Lawyers for Virginia Roberts ... have said that evidence against the billionaire was covered up after lobbying by his political and social connections. Epstein pleaded guilty in 2008 to a single charge of soliciting prostitution.
Note: An FBI investigation has identified 40 female victims of Epstein's elite criminal enterprise. For more along these lines, watch powerful evidence in a suppressed Discovery Channel documentary showing that child sexual abuse scandals reach to the highest levels of government, or read concise summaries of deeply revealing sex abuse scandal news articles from reliable major media sources.
The [recent] holiday headlines blared: End of War and Mission Ends and U.S. formally ends the war in Afghanistan." Great news! Except: the fighting is as intense as it has ever been since the U.S.-led invasion in 2001, according to the Wall Street Journal. And about 10,000 troops will remain there for the foreseeable future. Theyll continue to engage in combat regularly. This is the new reality of war: As long as the White House doesnt admit the United States is at war, were all supposed to pretend as if thats true. This ruse is not just the work of the president. Members of Congress [are also] letting the public think were Definitely Not at War. Another place the United States is Definitely Not at War? Pakistan, where, according to the Bureau of Investigative Journalism, the US conducted multiple drone strikes between Christmas and New Years Eve, killing at least nine people. Another six militants were reportedly killed in a drone strike in Pakistan on Sunday. There was yet another American drone strike in Somalia on 30 December. Meanwhile, the Defense Department quietly announced ... that, later this month, another 1,300 troops will deploy to Iraq in its ever-expanding undeclared war on Isis. The US continues to launch airstrikes against Isis and various other groups in Syria as well. Legal experts across the political spectrum believe this war is without precedent.
Note: Although 21st Century military combat operations may no longer be called war, war has been called a racket since the era of General Smedley Butler, one of the most highly decorated US generals ever. Read General Butler's eye-opening essay "War is a Racket." For more along these lines, see concise summaries of deeply revealing war news articles from reliable major media sources.
Republicans who now run Congress say they want to cooperate with President Obama, and point to the administration's Trans-Pacific Partnership, or TPP, as the model. The only problem is the TPP would be a disaster. If you haven't heard much about the TPP, that's part of the problem. It would be the largest trade deal in history ... representing 792 million people and accounting for 40 percent of the world economy -- yet it's been devised in secret. Lobbyists from America's biggest corporations and Wall Street's biggest banks have been involved but not the American public. That's a recipe for fatter profits and bigger paychecks at the top, but not a good deal for most of us, or even for most of the rest of the world. Big corporations and Wall Street want ... more international protection when it comes to their intellectual property and other assets. But they want less protection of consumers, workers, small investors, and the environment, because these interfere with their profits. So they've been seeking trade rules that allow them to override these protections. Not surprisingly for a deal that's been drafted mostly by corporate and Wall Street lobbyists, the TPP provides exactly this mix. In other words, the TPP is a Trojan horse in a global race to the bottom, giving big corporations and Wall Street banks a way to eliminate any and all laws and regulations that get in the way of their profits.
Note: The above article is written by former US Secretary of Labor Robert Reich. For more along these lines, see this summary of an article that appeared in the Guardian newspaper in 2013. You can also read the TPP's Intellectual property and environment language for yourself.
Corn syrup was found to be more toxic to female mice than table sugar, shortening their lives and cutting their rate of reproduction, according to a study by University of Utah researchers published online in a scientific journal. The research, funded by the National Institutes of Health and the National Science Foundation, is among the first to differentiate between the effects of the fructose-glucose mixture found in corn syrup and sucrose, or table sugar, said University of Utah biology professor Wayne Potts, senior author of the paper. It is to be published in March in the print edition of the Journal of Nutrition. The study showed that female mice fed a diet which contained 25 percent of calories from added fructose and glucose carbohydrates known as monosaccharides that are found in corn syrup died at a rate 1.87 times higher than female mice on a diet in which 25 percent of calories came from sucrose. The mice on the fructose-glucose diet produced 26.4 percent fewer offspring than their counterparts on the diet containing added table sugar, according to the paper. The study suggests humans, especially women, could face adverse health effects tied to consuming too much corn syrup, which is found in many processed food products, Potts said. Between 13 and 25 percent of Americans are estimated to eat diets containing 25 percent or more of calories from added sugars, according to the paper.
Note: The kind of high-fructose corn syrup commonly found in many industrial food products has been directly implicated in the autism epidemic by the substantial amounts of mercury that it has been proven to contain. For more along these lines, see concise summaries of deeply revealing news articles about the lies and business practices that threaten human health.
Michoacan, a mountainous, agricultural state in western Mexico, has been ravaged by fighting between drug gang henchmen and vigilantes who took up arms against the cartels but have since splintered into violent factions. A mid-December shootout between two rival groups that killed 11 people has reignited fears the government is failing to control the state after flooding it with federal troops and pressing vigilantes into a fledgling rural police force. The renewed fighting in Michoacan comes [just after] the apparent murder of 43 trainee teachers by a drug gang working with corrupt police in neighboring Guerrero state. The incident sparked widespread protests against the government, compounded by conflict-of-interest scandals enveloping the president and his finance minister. Pena Nieto discussed Mexico's chronic violence with US President Barack Obama in Washington on Tuesday. The main gangs operating in Michoacan ... were founded by Nazario Moreno. On local television, Alfredo Castillo, Michoacan's federal security commissioner ... said there were various testimonies indicating heart-eating was part of a macabre initiation Moreno used to root out moles or test his men's loyalty. More than 100,000 people have been killed in gang-related violence in Mexico since 2007.
Note: If the above link does not work, here is an alternate link. For more along these lines, see concise summaries of deeply revealing government corruption news articles from reliable major media sources.
Former CBS News correspondent Sharyl Attkisson has sued the Justice Department over the hacking of her computers, officially accusing the Obama administration of illegal surveillance while she was reporting on administration scandals. In a series of legal filings that seek $35 million in damages, Attkisson alleges that three separate computer forensic exams showed that hackers used sophisticated methods to surreptitiously monitor her work between 2011 and 2013. The intruders installed and periodically refreshed software to steal data and obtain passwords on her home and work computers. She also charges that the hackers monitored her audio using a Skype account. The award-winning reporter says she and her attorneys have "pretty good evidence" that these efforts were "connected" to the Justice Department. She said she was caught in a "Catch-22," forcing her to use the lawsuit and an administrative complaint to discover more about the surveillance through the discovery process and to learn the identities of the "John Does" named in the complaints. Attkisson learned through a Freedom of Information request that the FBI opened an investigation of the hacking case in May 2013, but says the bureau never interviewed her or even notified her of the probe. Attkisson resigned from CBS last March after complaining that she was increasingly unable to get her investigative stories on the air. She has published a best-selling book, "Stonewalled," about her battles against the network and the administration.
Note: Fox News was the only major media to cover this important case. Read a judge's supportive comments about this important case on Ms. Attkisson's website. For more along these lines, see concise summaries of deeply revealing news articles about government corruption and the disappearance of privacy.
The Doe Funds 400 fulltime employees (some 70% of them graduates of the program) operate four programs to help homeless and formerly incarcerated individuals achieve permanent self-sufficiency. Ready, Willing & Able does this through a 9-to-12-month transitional work program. The second program is an intensive non-residential work and education program for recent parolees, and the third a veterans program which offers homeless vets transitional work and housing, counseling and benefits advocacy, life skills, educational assistance, occupational training, job readiness, and graduate services. The fourth program is built around affordable housing for low-income individuals and families as well as supportive housing for individuals and families who face a variety of complex challenges. The Doe Fund has succeeded in offering less fortunate citizens of the world we all share a path to self-respect. Nazerine Griffin was an armed robber, stealing for his drug habit. He came to RWA from a homeless shelter. "We were a bunch of warehoused human beings with no way out," he says. Hes now the director of the Funds Harlem Center for Opportunity.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Longmont [Colorado] has become a cautionary tale of what can happen when cities decide to confront the oil and gas industry. In an aggressive response to a wave of citizen-led drilling bans, state officials, energy companies and industry groups are taking Longmont and other municipalities to court, forcing local governments into ... expensive, long-shot efforts to defend the measures. Two years ago, [Longmont] residents voted to ban hydraulic fracturing from their grassy open spaces and a snow-fed reservoir. In Colorado, the energy industry, which argues that cities lack the authority to outlaw fracking, has already won rulings overturning three fracking prohibitions. Longmont, which sits near the juncture of rolling plains and jagged mountains, has spent about $136,000 fighting unsuccessfully so far to defend a 2012 measure that outlawed fracking. In July, a district court judge tossed out the ban, and the city is appealing. A judge also overturned a fracking ban last year in Fort Collins, Colo., and denied pleas from the city to keep the ban in place while local officials went to court to defend a five-year fracking moratorium. In Broadview Heights, Ohio, energy companies are suing the town and residents are suing the energy companies in return over a bill of rights that outlawed fracking and the disposal of its byproducts. While the Longmont City Council voted unanimously in August to defend the fracking ban, other towns have decided it is just too costly a fight.
Note: Fracking can poison drinking water, negatively impact human health, and may cause earthquakes.
HipHopForChange aims to combat images of violence, sexism, materialism, drugs and homophobia by educating young people about the spiritual pillars that first inspired hip-hop as a vehicle for social change peace, love, unity and the spirit of fun. [Founder Khafre] Jay has developed an interactive workshop that he and his staff have taken to [several] schools, as well as community organizations like Youth Spirit Artworks. Sessions not only detail the early rise of hip-hop, but also teach students ... how to MC, the techniques of writing rap, and the finer points of graffiti lettering. Jay wants students to be able to talk about their lives and experiences without the superficial attitudes of mainstream hip-hop. [Our] rappers talk about their real lives, not some made up fictionalized, money, materialist, misogynist narrative that youre used to, Jay says. They talk about putting food on their tables, their aspirations, their hopes and their problems with society. Their views are just not congruent with the industry [stereotypes]. HipHopForChange also spends several days a week canvassing throughout the Bay Area. That grassroots approach [is] how Serenity Krieger, a teacher at El Cerrito High School, came to hire HipHopForChange to teach four classes for her geography students last year. She says, I want them to know about not just the oppression, but ways they can constructively do something about it.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Buckingham Palace has denied "any suggestion of impropriety with underage minors" by Prince Andrew, after he was named in US court papers. This is [part of] a long-running, complicated legal action which began in 2011 against an American businessman called Jeffrey Epstein. In these court documents ... an unnamed woman alleges she was forced to have sexual relations with Prince Andrew when she was a minor, three times in three different locations. The court document, first reported on by Politico Magazine, alleges: "Epstein also sexually trafficked the then-minor Jane Doe ... making her available for sex to politically connected and financially powerful people. "Epstein's purposes in 'lending' Jane Doe (along with other young girls) to such powerful people were to ingratiate himself with them for business, personal, political, and financial gain, as well as to obtain potential blackmail information." Prince Andrew ... is named as part of evidence relating to a wider case of an alleged sex trafficking scheme, involving US businessman Jeffrey Epstein, who spent time in jail in 2008-9 for a sex offence with a minor. Two women (known as Jane Doe #1 and Jane Doe #2) are suing the US government, saying it failed to protect their rights when it entered into a plea deal with Epstein. Now, two further women (Jane Doe #3 and #4) want to join this case, and it's Jane Doe #3 who has made claims against the Duke of York, as part of this. The prince strongly denies the allegations.
Note: Read the full legal text of the claims against Prince Andrew in this article in the UK's Telegraph. Watch powerful evidence in a suppressed Discovery Channel documentary showing that child sexual abuse scandals reach to the highest levels of government. For more along these lines, see concise summaries of deeply revealing sex abuse scandal news articles from reliable major media sources.
A list of people who have associated with Jeffrey Epstein over the years would take in the world of celebrity, science, politics - and royalty. Over the years, the casually-dressed, globe-trotting financier, who was said to log more than 600 flying hours a year, has been linked with Bill Clinton, Kevin Spacey, Chris Tucker and Manhattan-London society figure Ghislaine Maxwell, daughter of the late media titan Robert Maxwell. Epstein reportedly flew Tucker and Spacey to Africa on his private jet as part of a charitable endeavour. Clinton, meanwhile, flew on multiple occasions in the same plane to Epsteins private Caribbean island, Little St James, between 2002 and 2005 as he developed his philanthropic post-presidential career. It would later be alleged in court that Epstein organised orgies on that same private island in the US Virgin Islands. Reports in the US media say many of the A-list names broke off any links with the former maths teacher after his arrest and conviction in 2008 of having sex with an underage girl whom he had solicited. His arrest followed an 11-month undercover investigation at a mansion in Floridas Palm Beach that Epstein owned. In 2008, he pleaded guilty to a single charge of soliciting prostitution and was handed a 18-month jail sentence. He served 13 months in jail and was obliged to register as a sex offender.
Note: Read more about the child sex trafficking ring Epstein allegedly operated. This article says, "Epstein wired his mansion with hidden cameras, secretly recording orgies involving his prominent friends and underage girls. The ultimate purpose: blackmail, according to court papers." For more along these lines, see concise summaries of deeply revealing sexual abuse scandal news articles from reliable major media sources.
Imagine a lender demanding that you miss a payment. That is the situation described in a recent article in The Wall Street Journal. In 2013, GSO Capital Partners ... refused to renew a $122.3 million loan to the Spanish gambling company Codere unless it delayed paying interest on other existing debt. Why? It turns out that GSO had placed a bet that Coderes existing debt would not be paid on time. When, lo and behold, the payment was late, GSO collected on its bet. The bet in this scenario was a credit default swap. Credit default swaps, a type of derivative, can be used to hedge against losses on bonds that investors own, or to speculate on how the underlying companies will perform. The Dodd-Frank financial reform law was supposed to curb speculation in swaps. But ... hedge funds are increasingly using swaps to wager on whether weak firms will live or die. RadioShack ... is one of several prominent examples. In December, RadioShacks total debt came to about $1.4 billion, but swaps outstanding on the performance of the debt totaled $23.5 billion. Similarly, J.C. Penney ... had total debt of some $8.7 billion, but swaps outstanding on the debt totaled $19.3 billion. Last month, Congress repealed an anti-speculation provision of Dodd-Frank that would have prevented federally insured banks from conducting several types of swap transactions. In addition, the Federal Reserve recently gave the banks two extra years to meet [another important] Dodd-Frank provision. Sooner or later, poorly regulated credit derivatives will again play a role in damaging the economy.
Note: Derivatives trading in the shadow banking system has produced a speculative bubble, valued at nearly a quadrillion dollars, that has been described as a financial time bomb.
Nicholas and Jill Woodman ... will receive a huge tax deduction for their [charitable] donation of 5.8 million shares of company stock to a donor-advised fund. But theres no guarantee that one dollar of their October donation will ever be spent [on charity]. Donors gets an immediate, one-time tax break by depositing their money or assets in a donor-advised fund. They can advise the institution holding their money where and when to spend it on their timetable. Boston College Law School Professor Ray Madoff points out, It is like money-laundering." There was $54 billion under management in donor-advised funds in 2013. Top financial houses like Fidelity, Schwab and Vanguard have fully embraced donor-advised funds. Fidelity Charitable, with $13.2 billion worth of assets under management, is now the nations second-largest charity. Even though organizations like Fidelity Charitable, Schwab Charitable and Vanguard Charitable were founded by their financial house namesakes, they are separate 501(c)3 charities. But while Fidelity Charitable is independent from the financial institution, roughly two-thirds of the money in the charitable arm is invested in Fidelity mutual funds. Madoff said that because investment advisers can charge a fee for managing the money in these accounts, they have a natural incentive to keep the money in these accounts growing and not leaving.
Note: For more along these lines, see these concise summaries of deeply revealing articles about widespread corruption in government and banking and finance.
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