World Bank Aims to Wipe Out Nations' Debt

AP Economics Writer ^ | Dec 7, 8:15 PM EST | JEANNINE AVERSA

[BenLurkin]

Every institution can answerable at some point, as long as we have the right to bear arms.

[sgtbono2002]

Why not wipe it out? Its not like it would ever be paid anyway. Now they can start all over lending these same deadbeats more money, It works a little like Bankruptcy here in America. You go broke , you declare bankruptcy and 7 years later you get all you own back out of your wifes name and start all over.

[Walkingfeather]

HALAHAHAHA. Yeah I remember Jesus saying " teach a man to fish" I think it was in the 3rd chapter of 1st Balonians. I agree with the currupt leaders but If you think Bono spending Weeks in refugee camps just he and his wife, doing whatever they could, is self promotion, then I should be doing it.

I am wondering if Jesus Charged the people at the feeding of the 5000 (for example) by the pound for the Loaves and Fish they ate?
I am sure he took the 12 baskets left over and sold the rest... ahem

[BenLurkin]

They better NOT lend to the deadbeat nations.

In fact, now would be a good time for the World Bank to close its doors permanently. It has done enough damage already.

[CondorFlight]

Who gives them the right to cancel these debts,which are mostly ripped off from the US taxpayer?
Why not first raid the Swiss bank accounts of third world leaders to get the money back?
Nigerian leaders alone stole more than 200 BILLION DOLLARS
from their country's oil revenues.
So make them pay back Nigeria's part of the debt, anyway.
(And how about Mugabe?)

[Roy Tucker]

The sum total of foreign aid to Africa is the same amount estimated to have been pilfered by its leaders and sent abroad to personal bank accounts in Switzerland and elsewhere.

Enough already. Trade not aid.

[Peter vE]

They could also use the money for palaces for their ruling elite, equipping their militaries for pogroms against their "undesirables", and stashing buckets of lucre in Swiss accounts.

That's what they used the original loan for, silly! This round will go for condos on the French Riviera, re-equipping the military, and stashing loot in the Caymans.

[supercat]

Why not wipe it out? Its not like it would ever be paid anyway. Now they can start all over lending these same deadbeats more money, It works a little like Bankruptcy here in America. You go broke , you declare bankruptcy and 7 years later you get all you own back out of your wifes name and start all over.

IMHO, countries' debts should be discharged if and only if the government of the country has been dissolved and reconstituted.

For example, it would be right and proper for Saddam's debts to France to be voided by the new government. No reason the Iraqi people should have to pay them.

BTW, I'd apply the same rule to U.S. states.

[Monkey King]

Ah, yes.

I can't remember sometimes who's turn it is to screw the American taxpayer (and other honest citizens of other honest countries) for what.

[hosepipe]

FOOLS and their money are easily parted..
The so-called poor countrys are NOT the fools..

World bank(IMF) money taken from poor people in rich countrys wasted by giveing it to rich people in poor countrys..

[P-40]

I agree with the currupt leaders but If you think Bono spending Weeks in refugee camps just he and his wife, doing whatever they could, is self promotion, then I should be doing it.


I am sure that Bono & Company are not out roughing it with the masses once the cameras are out of range. If he really wanted to help these people he would go and speak out against the corrupt leaders that bring about such suffering and will continue to bring about such suffering so long as someone foots the bill for them. At present, he is working to bring about more misery and is made to look like a hero for doing it.

[Walkingfeather]

And if you were wrong.....and you found out that Bono was roughing it in refugee camps in ethiopia and other places, would you retract your statement and admit you were wrong?

[P-40]

And if you were wrong.....and you found out that Bono was roughing it in refugee camps in ethiopia and other places, would you retract your statement and admit you were wrong?


I would question the source and how the term "roughing it" was being used. I'm not saying that Bono is not a nice guy nor that he does not have the money to engage in such ventures, just that he does not have an understanding that his actions only bring more misery to those he wants to help. It was that way yesterday, it is that way today, and it will be that way tomorrow.