Monday 26th June: Day 5

So Warren Buffett has chosen to give away a large amount of his wealth to the Gates Foundation . I have always been under the impression that true philanthropy is an act of noble generosity meant to assist the recipient . Having a self-congratulatory press conference does not fit that definition .

There is also an interesting moral question here . By structuring his estate in this way Buffett has avoided a massive tax bill , and whilst the concept of this donation is fine, there is a level on which it leaves a bad taste in the mouth .

The truth is that this is just another example of the wealthy being able to indulge their own agendas and egos ,even in the act of giving . Warren might not want to fund Bush government programmes , but in a democracy that is not his choice .

So come on, Warren, stop grandstanding and stand up and really be counted!