Quote:
Originally Posted by Dave
As a last point, can someone please explain to me why making people, governments and organisations responsible and accountable for their debts is a bad thing? Many of the creditors to the corrupt regimes were private individuals and businesses whose only chance of seeing some of their money back was to sell it to companies such as Elliott. They have the financial and legal muscle that the small creditors lack necessary to achieve a result. Yes, they make a profit, but they're a business, not a charity.
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If you really can't see why this is wrong, then that is very worrying.
For example the Zambia debt was originally to buy tractors. They were repaying the debt for 20 years, and now they still have to pay back at least $40m. How is that fair? Do you really think Zambia ever received anything close to $40m? This has nothing to do with repaying what they were given. This is being held over a barrel and squeezed dry just because they can. Global loan sharks.
Surely you can see that's wrong?