Tuesday, September 23, 2008

If It's Not Profitable, Non-Profits Should Get Involved

Some corporations have cash to spare.....

Microsoft has unveiled plans to spend $40bn (£22bn) buying back its shares from investors, the biggest single buy-back plan in history.

Hewlett-Packard and Nike have also announced major buy-back programmes.
The personal computer-maker will buy back $8bn of shares, while Nike's plan is worth $5bn.

This story brought Bill Gates and his gigantic foundation to mind. He and others like him should step in and buy some of these bad mortgages, then just forgive them. They would be helping people keep homes and relieve some of the current financial pressures. Yes, they might bail out some people who don't deserve it, but so will the government plan. At least they would be helping people at the lower end, not just George Bush's banker buddies. They could concentrate on the smaller ones that were more likely taken out by poorer people who got conned by financiers.

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