"The Bank, whose job it is to support low-income countries, has had to hand out so much cash in the wake of the financial crisis that its resources could run dry within 12 months.
"By the middle of next year we will face serious constraints,” said its president Robert Zoellick, as he launched a major campaign to persuade rich nations to pour more money into the Washington-based institution."
Well here's something else for Boomers to worry about in our Golden Years.
I wonder which country will be asked to step up to the plate and contribute the lions share of money to the World Bank? I wonder whose country's politicians will be tripping all over themselves proposing funding bills for "the great humanitarian effort" to save the World Bank? My prediction is that whatever country it is, it will be a Herculean Bi-partisan Effort to give away more of that country's dwindling assets.
You get the point.
No comments:
Post a Comment