• Dr B.S.Suran

    1.I read the article with interest, yes its true that the significance of the financial sector in U.S. philanthropy is huge ..its likely these events would slow the funds from banks to non-profits. It certainly has cascading effects. The main worry for the non-profits is get the financial resources and continue with the commitments that have been made for various projects, lest, it would be dashing the hopes of millions of have-nots. I am not very conversant with the funding support that is available for non-profits. In India, we do have separate funds created out of profits of corporates & government contributions to fund many charitable / and capacity enhancing programmes for the poor( eg in microFinance : this is besides the direct poverty alleviation programmes for the poor). I am not sure whether such funding support would be available for the Non-profits directly from Govt or Fed- we could make a case for it.

    2.As regards the Bail out : The Fed and the Govt will have to tide over the present crises, by nationalisation, corporate mergers , consortium takeovers etc . The bail out packages that is being planned well have to thrown open first , with clear conditionalities for performance , clean up of accounting systems , improving transparency , limiting leverages and off-balance sheet liabilities, fixing management responsibility. It Govt should fix responsibility o the auditors , who failed to point out such weakness in the system . It could also consider freezing assets ( partly) of the wrong doers. In short the measures have to be stringent , with clear message for unhealthy dealings. The supervisors will have to also spell out clear “ Early warning signals