03-04-2005 04:24									#31
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quote: John Perkins started and stopped writing Confessions of an Economic Hit Man four times over 20 years. He says he was threatened and bribed in an effort to kill the project, but after 9/11 he finally decided to go through with this expose of his former professional life. Perkins, a former chief economist at Boston strategic-consulting firm Chas. T. Main, says he was an "economic hit man" for 10 years, helping U.S. intelligence agencies and multinationals cajole and blackmail foreign leaders into serving U.S. foreign policy and awarding lucrative contracts to American business. "Economic hit men (EHMs) are highly paid professionals who cheat countries around the globe out of trillions of dollars," Perkins writes. Confessions of an Economic Hit Man is an extraordinary and gripping tale of intrigue and dark machinations. Think John Le Carré, except it's a true story. Perkins writes that his economic projections cooked the books Enron-style to convince foreign governments to accept billions of dollars of loans from the World Bank and other institutions to build dams, airports, electric grids, and other infrastructure he knew they couldn't afford. The loans were given on condition that construction and engineering contracts went to U.S. companies. Often, the money would simply be transferred from one bank account in Washington, D.C., to another one in New York or San Francisco. The deals were smoothed over with bribes for foreign officials, but it was the taxpayers in the foreign countries who had to pay back the loans. When their governments couldn't do so, as was often the case, the U.S. or its henchmen at the World Bank or International Monetary Fund would step in and essentially place the country in trusteeship, dictating everything from its spending budget to security agreements and even its United Nations votes. It was, Perkins writes, a clever way for the U.S. to expand its "empire" at the expense of Third World citizens. While at times he seems a little overly focused on conspiracies, perhaps that's not surprising considering the life he's led. --Alex Roslin

	03-04-2005 04:30									#32
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Does that tin hat chafe? that said, thanks for shitting on the WB.

	03-04-2005 04:31									#33
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quote: Originally posted by TCO Look at the howls that will come if we just go our own way.

Why would we want to when it is a successful foreign policy tool?

quote: BTW, I don't think these types of aid help people much. It goes into corrupt governments and even props them up. Also the types of projects done, can be very huge and stupid. I prefer lowering our trader barriers to help people.

The World Bank mostly financies large scale infastructure projects in the third world. Dams, highways, ports, railroads, and similiar type projects. There are better accounting controls in place then most American government contracts (which to this day are still routinely abused by corrupt officials ; see the corrupt governor who got arrested last year) and they get better all the time to respond to critics.

It's a good way to reward good government policies in the developing world and it helps them move towards a more integrated economic position with the rest of the world. Changing some of our trade policies would be good but I'd be against unilateral disarmorment. Instead we & the other 1st worlders should agree to give up farm subsidies in exchange for more open markets with the rest of the world. That will help everyone in the form of lower prices and it will single handedly end most of the cronic poverty amoung the world's farmers (landless people will still have problems).

	03-04-2005 04:33									#34
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The problem is that micro-aid is more effective than these monstrosities. Have you read the book I cited? Should I buy you a copy?

	03-04-2005 04:51									#35
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quote: Originally posted by TCO Does that tin hat chafe? that said, thanks for shitting on the WB.

The review even mentions conspiracy theories.

But the heart of the matter cannot be denied. You said it yourself.

Dinodoc thinks we should keep the World Bank for this very reason -- manipulation.

	03-04-2005 05:06									#36
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Micro Aid is nice for individuals but the World Banks job is to review, advise, and finance countries when they are looking to build large infastructure programs. Micro-Aid wouldn't have built a highway through central Asia, it wouldn't currently be building a highway from China to Singapore, or a highway through the Amazon. The third owrld doesn't have enough water storage capacity nor enough affordable electricity so the World Bank bank finances the contruction of hydroelectric dams (another project micro-loans won't work with) which improves agricultural output, creates a reliable water supply for cities, and provides affordable nongreen house gas causing electricity.

The World Bank is a Bank which takes out loans with credit worthy applicants and it does not give grants. It helps third world countries develop sound economic policies and it prevides access to credit for projects the private market won't touch at a reasonable interest rate. Because the world bank's shareholders are entirely first world governments it has the political muscle to enforce loan terms and prevent defaults which private banks could not do. That said the interest rates charge are small and are much smaller then any rates available on the market. The Bank uses its political clout to better mitigate risks of default on loans then a private lender could. The World Bank does not compete against private lenders and any project it works with has already been unable to find a private lender.

In short this is valuable work which is part of the carrot in the 1st world's carrot and stick approach to encouraging better economic practices in the third world.

	03-04-2005 12:02									#37
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quote: Originally posted by Oerdin The World Bank does not compete against private lenders and any project it works with has already been unable to find a private lender.

The World Bank bails out private banks and puts the burden on the extremely poor.

	03-04-2005 12:04									#38
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sure it does... Please explain how that works so that we can all have a good laugh.

	03-04-2005 12:15									#39
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quote: The World Bank bails out private banks and puts the burden on the extremely poor.

acutually no, thats the imf. the worl bank demands rapid liberalisation, sometimes too rapid, that can kill an economy. (ie eliminating jobs before creating any)

	03-04-2005 12:18									#40
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Why are we arguing over a single body that is almost an arm of the US government?

	03-04-2005 12:18									#41
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quote: Originally posted by Kidicious World Bank Neo-cons Davout

Kidicious

	03-04-2005 12:25									#42
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quote: Originally posted by DinoDoc Why are we arguing over a single body that is almost an arm of the US government?

Cause they suck!

	03-04-2005 12:29									#43
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quote: Originally posted by Ted Striker Cause they suck!

Well that goes without saying but that doesn't seem to be GP's main beef with them.

	03-04-2005 14:02									#44
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quote: Originally posted by Ted Striker The review even mentions conspiracy theories. But the heart of the matter cannot be denied. You said it yourself. Dinodoc thinks we should keep the World Bank for this very reason -- manipulation.

I would get Machievellian on him, but he got there first.

	03-04-2005 14:03									#45
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So DINO? Have you read THE UGLY AMERICAN?

	03-04-2005 14:08									#46
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The WB is an instrument of empire that's far more effective than stationing troops.

	03-04-2005 14:10									#47
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Have you read it, Indymedialookingatheartlandfoodeatingpalmtreesleep
ingunderman?

	03-04-2005 14:12									#48
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There is a program glitch. It won't let me make long runonwords.

	03-04-2005 14:12									#49
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* chegitz guevara points at TCO and laughs.

	03-04-2005 14:13									#50
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Wofly's a ****. So's t he World BABnk. Match made in heaven.

	03-04-2005 14:14									#51
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quote: Originally posted by Ramo Wofly's a ****. So's t he World BABnk. Match made in heaven.

Let's shut it down and save some money.

	03-04-2005 14:16									#53
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But I'm doing it for evil conservative save money and be a little more isolationist reasons.

	03-04-2005 14:20									#54
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Those reasons aren't exclusive to conservatism

	03-04-2005 14:21									#55
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I thind liberatrianism is evil but that doesn't stop me from agreeing with half of their policies.

	03-04-2005 14:21									#56
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Isolationism is.

	03-04-2005 14:26									#57
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I'd say that's more of an American value and not something that falls under the blanket of "liberal" or "conservative."

People use those terms way too much.

	03-04-2005 18:45									#58
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quote: Originally posted by TCO So DINO? Have you read THE UGLY AMERICAN?

No. It's not my cup of tea from what I hear.

	03-04-2005 21:48									#59
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quote: Originally posted by DinoDoc No. It's not my cup of tea from what I hear.

What do you hear that tells you that?

	03-04-2005 21:51									#60
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quote: Originally posted by Lawrence of Arabia acutually no, thats the imf. the worl bank demands rapid liberalisation, sometimes too rapid, that can kill an economy. (ie eliminating jobs before creating any)

The World Bank bails out banks too, just indirectly.