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Non-Tech : Derivatives: Darth Vader's Revenge
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To: Sam who wrote (697)12/19/1998 11:09:00 AM
From: Worswick  Read Replies (1) of 2794
 
Good morning my dear Sam.

I read and re read the Rogers senate testimony and I can't help but agree with most of everyhing he has said. The waste of the IMF projects and our US AID sponsored projects in 3rd world countries has been unimaginable. I repeat.... unimaginable.

I rememeber going a round of Brazilian bankers for a loan against a $50 million dollar fully collateralized note from some Nepali gentlemen in Katdmandu. It was only when I was half way through the meetings that I realized the $50 milion was all the money of a German aid-package to Nepal.... that was promised for the next year. The "interest" on the German money was going into the Nepali bureacrats personal paid presumably from the Brazilians on the German monies.

This was a clean deal imagine the dirty deals????

I could list all the failed IMF World BAnk projects but it is important to lok at the successes. 4 million tube wells in BanglaDesh pumping arsenic??? Turhning the Punjab into the breadbaset of India and poisoning the aquifer from all the intensive ag chemicals??

In Washington as you go around every bureacrat down in our capital looks at the IMF boys... as the luckiest guys in town, because of all their "perks" and the IMF pension plans. Not to mention the salaries these people are paid.

I think most of the "internationalists" amongst the IMF have most of their salaries tax-free in various scams to cheat the local tax man at home. Not the Americans of course. Goodness how could I suggest that.

All these multinational aid programs to the third world leak like sieves.

... and here we wait by the side of the road waiting for the great derivatives crash of the last year of the millenium.

Best to you,

Clark

a clean dal. Image the dirty deals?
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