Wednesday, June 06, 2007

Vulture Capitalism

Last night an exemplification of the term vulture capitalism, which I have used before, was given on Newsnight.
Vulture funds - as defined by the International Monetary Fund and Gordon Brown amongst others - are companies which buy up the debt of poor nations cheaply when it is about to be written off and then sue for the full value of the debt plus interest - which might be ten times what they paid for it.
The money men have a huge responsibility for additions to the suffering of the poor but the providers of food which we all consume do so too.

George Monbiot highlights abuses which, foolishly, we thought had long since passed when we gave up sweeties and choco bars in our campaigns. Also one of the best quotes I have seen for a long time

Panaceas are rare in medicine, but the mammary gland is one.

Amen brother George! Read the link.