workingassets\r\n\r\n\r\n\r\n\r\n<\/p>
This morning, I was greeted with an email\r\nfrom Working Assets, my progressive-minded wireless and long\r\ndistance carrier, entitled \"plastic with a purpose\"<\/i>.\r\n<\/p>\r\n\r\n
Working Assets was offering me a credit\r\ncard. A MBNA<\/b> credit card. Just what purpose<\/i> are we\r\ntalking about here? <\/p>\r\n\r\n
I'm appaled to see a so-called progressive\r\ncompany doing business with MBNA corp, a company that supports a\r\nvariety of dubious neo-conservative causes, and was the top\r\ncontributer to the Bush campaign in 2000. <\/p>\r\n\r\n
Between 1989 and 2002, MBNA has donated\r\n$7,139,894 to the Republican Party. In 2000, MBNA donated\r\n$3,565,205 to various 'causes', with the majority of this\r\nspending spree going to George W. Bush's Presidential bid. They\r\ndonate these large amounts by the highly questionable practice of\r\n\"suggesting\" that all their executives make donations.\r\nThese \"suggestions\" come in the form of Internal Memos\r\nwhich tell executives how much they should donate to each\r\n\"preferred\" candidate, and asking that they send\r\nphotocopies of the checks to top executive John W. Scheflen. CEO\r\nCharles M. Cawley is one of Dubya's \"Pioneers\", those\r\n$100,000 and up fundraisin' cowboys. Yee-haw. <\/p>\r\n\r\n
By the way, Cawley, Scheflen & other\r\nexecs at MBNA have just sold massive amounts of their MBNA stock\r\n- they know something we don't? <\/p>\r\n\r\n
Why would Working Assets choose to do\r\nbusiness with such a company? Why not CitiGroup, which makes\r\nroughly equal donations, or Providian, who hardly donates at all?\r\n<\/p>\r\n\r\n
There are lots of lesser evils in the world\r\nof corporate banking (not to mention credit unions!), and I would\r\nexpect a company like Working Assets to do its homework. Campaign\r\nfinance data is open to the public, people! <\/p>\r\n\r\n
After an extended stay in the UK, I have\r\njust returned home. I was planning to re-activate both my long\r\ndistance and wireless services, but after receiving this credit\r\ncard offer, I am dubious about where my money would really be\r\ngoing. I'm thinking, great, I'll donate 10 cents to Human Rights\r\nWatch for every $1000 in interest I pay to MNBA. <\/p>\r\n\r\n
Now that's plastic with a purpose. It's\r\njust not my kind of purpose. <\/p>\r\n\r\n
***<\/p>\r\n\r\n
Information sources: <\/p>\r\n\r\n
The Center for Responsive Politics
\r\nwww.opensecrets.org<\/p>\r\n\r\n
The Delaware News Journal
\r\n\"MBNA's campaign clout grows\" 03\/12\/2000
\r\nhttp:\/\/www.delawareonline.com\/newsjournal\/archives\/mbna\/0312200a.html <\/p>\r\n\r\n
MSN Money: MBNA
\r\nhttp:\/\/moneycentral.msn.com\/investor\/invsub\/insider\/trans.asp?Symbol=KRB\r\n<\/p>\r\n\r\n
<\/p>\r\n\r\n\r\n\n","contact":"esnyder@stopspending.org","link":"www.stopspending.org","address":"","phone":"","parent_id":0,"mime_type":"image\/gif","summary":"Working Assets, known for it's donations to many worthy progressive causes from the proceeds of its long distance and wireless services, is now offering a credit card. An MBNA credit card. \r\n\r\nWhat gives?","numcomment":0,"fileurl":"\/uploads\/2003\/09\/wa_logo.gif","filesize":"2.3 kibibytes","article_url":"\/news\/2003\/09\/81165.php","image":{"original":"\/uploads\/2003\/09\/wa_logo.gif"}},"attachments":[],"comments":[]}