When has our government ever reduced wasteful spending? During such an economic crisis (created primarily by our government) Pelosi and other selected members of Congress made two unnecessary trips to Europe under the guise of seeing what is happening, using stimulus money we had to borrow which added to our deficit.

Then our President becomes a lobbyist goving after the Olympics for his home state of Illinois, a direct comflict of his Presidential duties. The repeated times that the U.S. has been honored in holding the Olympics should have been sufficient for Obama to make a wise decision of giving other countries a chance to vie for the same honor yet he shows the world how greedy the U.S really is under his leadership? Now who is arrogant and dismissive?

On the other hand, Obama was nominated for the award within twelve days of his inauguration. He hadn’t had time to do anything for peace, either positive or negative. But he’s up there with such notables as Yasser Arafat, Jimmy Carter and Al Gore.

And there is the issue of how the Nobel foundation funds invested in Swedish armament industry and in weapons of mass destruction.

1. Originally the directive from Alfred Nobel was to place the funds in real estate or similar safe investments, however since 1953 the foundation was allowed by the Swedish government to invest in shares, which stopped the hither to depletion of the funds.

2. The funds are at the moment approx US$ 500 million in total (it shrunk approx 20% last year).

3. The management is not done by the foundation itself, it is split across several (about ten) portfolios managed by different asset managers in Sweden and other countri es, the spread across countries and by asset type can be found here: http://nobelprize.org/nobelfoundation/finan-manag.html

4. As late as 2005, there is an explicit admission from the foundation that there are NO ethical guidelines issued to the asset managers:

http://www.dagsavisen.no/innenriks/article256458.ece?service=articlePrint – in Norwegian)

5.There have been several ‘scandals’ surrounding the asset management, presumably deriving from the lack of ethical guidelines from the Nobel foundation

- In 1998, the Observer made an investigation into the investments and found that many of the world largest arms manufactureres (including Boeing, British Aerospace, GKN och Smiths Industries) were in the Nobel foundation portfolios

- in 2005, a Norwegian organization ‘Norwatch’ looked specifically into the portfolio handled by a US firm group called T Rowe Price who in their general portfolios have manufacturers of both cluster bombs and atomic bombs (Lockheed Martin). The Nobel foundation did not exclude the possibility that their funds were invested in such shares

6. it is probable that such investments are held in the the Bofor group, which has a high level chemical plant in Ifshahan, Iran, which manufactures TNT, and quite likely sophisticated chemical precursors used to help create nuclear enriched uranium.

However, dynamite and related products was the original invention and=2 0business which gave Alfred Nobel the means to set up the prize in the first place, and he was the owner of Bofors from 1894-96, during which he “had the key role in reshaping the iron manufacturer to a modern cannon manufacturer (…)” : http://en.wikipedia.org/wiki/Bofors

No doubt the prestige of the prize to a large degree derives from the large sums involved, but is therefore also stained by the way the money was and is procured.

But the prestige also derives from Alfred Nobels testamentary wish to promote peace and international understanding.

The paradox the funds for the Nobel Prize are invested and retained in funds related to armament productions and weapons of mass destruction and many people are unaware of this situation.