[Wikimedia-l] Wikimedia Foundation Report, February 2013

[Garfield Byrd]

Pine:

Our relationship with JP Morgan Chase is that they handle part of our
international banking.  This is a separate division of the bank from the
one that had the trading losses.  I agree with you that this type of news
report is not good news.  I have reviewed the information I have available,
and have determined that the money JP Morgan Chase is holding for the
Wikimedia Foundation is not at risk.

When we did a review of banks that can handle our international
banking, unfortunately  all of the banks we looked at were involved in some
sort scandal, from risky trades to LIBOR manipulation.  This is not an
ideal situation for a community based movement and I am continuing to look
at options for all or some parts of our international banking needs.

Regards,

Garfield




On Fri, Mar 15, 2013 at 9:55 PM, ENWP Pine <deyntestiss at hotmail.com> wrote:

> I'm curious, what is the nature of WMF's relationship with JP Morgan
> Chase? Given the stories that I'm reading in the news such as this one,
> http://dealbook.nytimes.com/2013/03/15/jpmorgan-executives-face-withering-questions-at-senate-hearing/?hpw,
> I'm uncomfortable with the idea that WMF has a business relationship with
> JP Morgan.
>
> Pine
>
>
> _______________________________________________
> Wikimedia-l mailing list
> Wikimedia-l at lists.wikimedia.org
> Unsubscribe: https://lists.wikimedia.org/mailman/listinfo/wikimedia-l
>



-- 
Garfield Byrd
Chief of Finance and Administration
Wikimedia Foundation
415.839.6885 ext 6787
415.882.0495 (fax)
www.wikimediafoundation.org

Imagine a world in which every single human being can freely share in
the sum of all knowledge. Help us make it a reality!

*https://donate.wikimedia.org*