It costs to Discover


Discover Card customers and shareholders are discovering what their money is helping to finance — and many of them aren’t pleased. The VILLAGE VOICE reports that an environmental group is leading a boycott of the Discover Card, whose parent company, Morgan Stanley Dean Witter, is helping to sponsor the construction of China’s Three Gorges Dam. According to activists, the dam — scheduled for completion in 2009 — is one of the most socially and ecologically destructive projects in history.

The boycott, led by the International Rivers Network, marks a shift in environmentalist strategy, as protestors have changed their focus from attacking the builders of exploitative third-world industries to pressuring their Western financers. The strategy is proving effective. A Morgan Stanley-shareholder campaign demanding that the company make only socially responsible investments has been gaining steam, as have similar movements within other major investment firms.

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Headshot of Editor in Chief of Mother Jones, Clara Jeffery

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We aim to hire, build a team, and give them the time and space needed to understand how we got here and how we might get out. We want to dig into the forces and decisions that have allowed massive conflicts of interest, influence peddling, and win-at-all-costs politics to flourish.

It's unlike anything we've done, and we have seed funding to get started, but we're looking to raise $500,000 from readers by July when we'll be making key budgeting decisions—and the more resources we have by then, the deeper we can dig. If our plan sounds good to you, please help kickstart it with a tax-deductible donation today.

Thanks for reading—whether or not you can pitch in today, or ever, I'm glad you're with us.

Signed by Clara Jeffery

Clara Jeffery, Editor-in-Chief

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