Added: Jul 26, 2008
From: GregPalastOffice
Duration: 5:52
Investigative journalist Greg Palast reports on one company that has won the right to collect $20 million from the government of Zambia after buying its debt for $4 million. In his recent State of the Union address, President Bush declared the United States was taking on the challenges of global hunger, poverty and disease, and urged support for debt relief, which he called the best hope for eliminating poverty.
Channel: News
Tags: bbc bono greg newsnight palast poverty vulture_funds
Rating: 4.88 (97 ratings) Views: 19796' favoriteCount='84 Comments: 48
neothomist1275 Says:
Jul 26, 2008 - They lend out a bookkeeping entry called credit. Its all just a game: "Debt forgiven, debt forgiven!". What do they care? The IMF is still holding American birth certificates as chattel collateral against it.
kusotarre Says:
Jul 26, 2008 - 1) Dictator takes over nation, buys shitloads of stuff, in some cases, simply gives money away to influential corporations.2) Democracy takes hold.3) IMF/World Bank hold the people of said nation responsible for the spending of their unelected, deposed dictator.If you think that is moral, you're seriously warped.
JadedGemy Says:
Jul 26, 2008 - You are a fucking idiot. Seriously the fact that there are people out there like only deepens my dispair for the future of this thing called the human race.
nchimunya360 Says:
Jul 26, 2008 - assholes,
mountain19 Says:
Jul 26, 2008 - they always get their hands on this monies. like the foundations and rothschilds.
realnewsdm Says:
Jul 26, 2008 - SO this is the Human Race,Some of these Comments seem to think that is ok. Some of these comments need to put on their shoes! I am very sorry for those that feed of the poor and homeless! For Vaulters is to good a name for them. And that incudes Evil Dictator!
goundreykruse Says:
Jul 26, 2008 - bobo is such a twat!
mcalien24 Says:
Jul 26, 2008 - i hope your "real question" is rhetorical or sarcastic. hmmm i wonder why these countries are poor. read confessions of an economic hitman.
mcalien24 Says:
Jul 26, 2008 - i think you meant "democracy"
furrymustard69 Says:
Jul 26, 2008 - We've usually 'raped' these countries of their natural resources first. It's always the people who suffer. I say emigrate, even illegaly. Ever wonder why everyone is trying to get into Europe & America? It's not cause your kind, caring, loving sweethearts.
pistons2203 Says:
Jul 26, 2008 - boo this guys sucks
Waldemar3 Says:
Jul 26, 2008 - as yes Vaulters!
OscarLimaMike Says:
Jul 26, 2008 - Bobo?
goundreykruse Says:
Jul 26, 2008 - I dunno, I don't remember writing that comment or even seeing this video! Perhaps someone else is using my log in?
goundreykruse Says:
Jul 26, 2008 - Oh, yeah, just re-watched this and realise that I meant BONO is such a twat. Bobo is a good name for the monkey-man tho! :)
matarobill Says:
Jul 26, 2008 - then bin laden is ok, its karma baby
theheathyfella Says:
Jul 26, 2008 - To my knowledge Brown has still not done anything about the situation.
chad071981 Says:
Jul 26, 2008 - sounds like the credit card companies
dentistsugardusty Says:
Jul 26, 2008 - Damn! who's really interested in peace?...and who's mightier a stockholder or a president? knowledge + money + political placement + blind opportunity = callous humanitarianism or Fuck Themism..this is mine-ism. M.O.B. money over bitches and M.O.B.H. money over the balance of humanity
C0MIC25 Says:
Jul 26, 2008 - bravo brother! well said..one of those tumbs up... is from me.
adoracle1 Says:
Jul 26, 2008 - Well of course Bush supports debt relief...its another way to soothe and reward his evil cronies....here ya go boys...fresh meat...FEED!This country has been conquered in an ideological coup de`tat as surely as if they'd used the army...its a done deal. Ron Paul was right now they lay them down to sleep, dreams of stalk and prey to keep a million desperate souls to takeAnd miles to go before they wakeMiles to go before they wake...
DanLackey Says:
Jul 26, 2008 - Last Updated: Thursday, 15 February 2007, 18:38 GMT E-mail this to a friend Printable version Zambia loses 'vulture fund' case Zambia's infrastructure plans could be threatened'Vulture fund' report A High Court judge has ruled that Zambia must pay a substantial sum to a so-called "vulture fund". British Virgin Islands-based Donegal International paid less than $4m (£2m) for a debt the African nation owed, but sued Zambia for a $42m repayment.
DanLackey Says:
Jul 26, 2008 - It said its bill was the result of interest and costs, but the judge has indicated that Zambia should pay less.
kensingtion Says:
Jul 26, 2008 - Why the fuck hasn't this guy thrown Anderson Cooper's ass out in the street where it belongs.
mrinal80 Says:
Jul 26, 2008 - ridiculous ....so u mean we should just give these 'poor' countries hand outs ?....the real question is why they are poor in the first place....why are we so bothered by something that is a side effect and not the cause??