Thursday, February 26, 2009

Army Emergency Relief Scandal: Stockpiling, Hoarding, and 'Never Mind?'

I haven't found updates from The Associated Press on the 'news' that Army Emergency Relief is - prepare for a shock - connected with the Army. And, even more shocking, gives GIs zero-interest loans.

Not even revelations that soldiers have to qualify for these loans seems to have been enough to rekindle The Associated Press's journalistic zeal.

The story isn't dead, though: local and regional news outlets are still running with it. They're a bit divided on just what it all means, though. Take a look at headlines in "In the News," below.

Using a Buck-Eighty for Every Dollar Given - All Charities Should 'Hoard' Like This

I think one reason that The Associated Press isn't following up on this story is that some inconvenient facts got published.
  • 'Stockpiled' funds were
    • Loans to soldiers
    • Investments whose interest gave AER a 1/1.8 donation/program ratio
A comment on this blog revealed that AER did require that GIs qualify for the loans, and the Army expecting soldiers to pay their debts was revealed in the news.

In my world, having to qualify for a loan, and then pay it back, is a pretty basic expectation. So is investing money, and using the interest. If The Associated Press can be believed, not everybody sees things that way.

Related posts: In the news:

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