The Top 5 Most Hypocritical Corporate Sponsors
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2. Wells Fargo Sponsors Habitat for Humanity
If Habitat for Humanity, a non-profit organization dedicated to building “simple, decent, affordable housing,” wanted to build a house for every family kicked out of theirs due to foreclosure, they would have to build fast. Very fast. In fact, between 2007 and early 2012, about 4 million families lost their homes to foreclosure. And in April it was estimated that around 9.5 million homes are at risk for default. Who’s to blame? Well, a lot of corrupt banks, but especially Wells Fargo, the nation's largest mortgage servicer.
Wells Fargo has continuously participated in fraudulent procedures that have resulted in thousands of people being illegally forced out of their homes. The corporation has practices robo-signing, a process in which foreclosures are approved without properly reviewing cases and then fabricating documents in court, as well as dual tracking, which offers homeowners loan modifications while simultaneously pushing them toward foreclosure. Recently, Wells Fargo was even caught targeting minority groups and just recently paid a $175 million settlement of mortgage discrimination complaints for steering African American and Latino mortgage borrowers into subprime loans with higher rates and fees.
Foreclosures have devastated families nationwide. One man even committed suicide two days before Wells Fargo was going to foreclose his house after a long battle.
3. McDonalds and Coca-Cola Sponsor London Olympics 2012
Across the pond, a controversy has sparked on whether or not McDonalds and Coca-Cola should be allowed to sponsor the 2012 Olympics in London. The London Assembly, an elected body, stated that one of the Olympics’ goals was to promote health by encouraging physical activity. But unhealthy food corporations sponsoring the Olympics, corrupts that message. Meanwhile, a projected 60.8 percent of adults and 31.1 percent of children in the U.K. are overweight.
The Children’s Food Campaign authored a recent report called the Obesity Games, which calls for a ban on junk food brands sponsoring sporting events. The report stated that these corporations were given an “unrivalled platform” to market their unhealthy food. Yet, these corporations only contribute 2 percent of the International Olympic Association’s income. The report stated that taxpayers thus have to fund the majority of the Olympics and the increased healthcare costs due to obesity issues.
Malcolm Clark, campaign coordinator, said to The Independent: “The Olympics have become a celebration of big. For the junk food companies who sponsor the Games that means big restaurants, big audiences, big brand value, big profits. But for children that could also mean bigger waistlines and bigger health problems later in life.”
Despite the on-going debate, McDonalds and Coca-Cola are still sponsoring the Games. On the day before the opening ceremony, London’s mayor Boris Johnson responded to the criticism by telling reporters, “This is all just bourgeois snobbery about McDonald’s … It’s classic liberal hysteria about very nutritious, delicious, food — extremely good for you I’m told — not that I eat a lot of it myself … Apparently this stuff is absolutely bursting with nutrients.”
4. United HealthGroup and WellPoint Sponsor American Red Cross
Health insurance corporations funding an organization dedicated to providing medical assistance to those in need — sounds nice right? Until you learn that United HealthGroup and WellPoint, the two largest health corporations, are more concerned about profit than the wellbeing of their patients.
In fact, the two corporations met with other health insurance giants last year to discuss ways they could weaken the Affordable Care Act and have continuously lobbied for loopholes in the law. Just recently, they all joined up to donate $100 million to the Chamber of Commerce, which will use the money for election advertising in an attempt to take down Democrats who supported the Affordable Care Act.