£3.5 billion extra? What the papers don’t tell you…
Howard Lake | 27 January 2008 | Blogs
Puzzle number one: Our Gallic hero didn’t set the money on fire, so it went somewhere. If, as claimed, it contributed to stock market falls; why didn’t its re-appearance in someone else’s pocket set up an equal an opposite rise in stock market prices? www.news.bbc.co.uk/1/hi/business/7208439.stm
Puzzle number two: Rogue traders are rogues because they lose shed loads of dosh, but I’m sure there are hidden, but successful traders out there making zillions who fess up and are quietly forgiven. www.guardian.co.uk/business/2008/jan/27/europeanbanks.marketturmoil?gusrc=rss&feed=networkfront
So, what has all this to do with fundraising? Well, why are we all bothering with T-shirts when we should be into derivatives etc – any charity whose income comes from the profits of such financial services is going to be able to really ‘make a difference’ on a scale rarely seen before. Okay the risk is greater, but I for one would like to see a much greater risk / reward ratio in charity fundraising, because at present we are only making a pootling difference to most serious problems.
Secondly – anyone got the address of a successful rogue? Contact John Baguley a sap.
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.