[Odd, according to the NY Times -- see below -- Citigroup did *not* launder this donation through its foundation but made the grant directly from general corporate funds. Tsk, tsk. In any event, I think Weill really is in serious trouble now and that his retirement fast approaches.]
Private Preschool Admissions: Grease and the City
By STEPHANIE STROM
... "It is odd that the money [donated to the nursery school] came from the bank," one major fund-raiser said. "If it had come from the bank's foundation, well, then you might be able to make a case that this was good citizenship. But from the company itself? That's funny."
Members of prestigious nonprofit boards around the city are following the story with great interest but have no desire to discuss it publicly. "The fact that Sandy has been so incredibly generous himself makes it difficult to talk about it," one said. "The one thing that just doesn't feel right, whether it violates any rules or principles, is that this was shareholders' money." ...
<http://www.nytimes.com/2002/11/16/business/16WALL.html>
Carl
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