JPMorgan (NYSE:JPM), Goldman Sachs (NYSE:GS) Say No to UK Fund Request

JPMorgan (NYSE:JPM) and Goldman Sachs (NYSE:GS) were strangely asked by the government of the UK to contribute $480 million a regional business growth fund, according to the Financial Times.

They rightly rejected the cheeky request, with one unidentified European group saying the government was sidestepping transparency by attempting to garner funds “through the back door.”

The government should be transparent in regard to taxes the group said.

Business itself needs to take up the burden of economic growth without any interference from the government, no matter what country in the world it is.

It's bizarre to think of a government asking for contributions from businesses to create another government boondoggle, which rarely, if ever work.