[PookztA]

Corporations and banks should not have this much power. We live in a great time, where people are finally standing up to the corrupt financial institutions which have played a very large role in generating our current global economic crisis. Just spreading awareness, and hopefully our civilization will continue to work together, as we have been recently, to hold these institutions accountable for any hardships and financial difficulties they have caused other nations, including our own.

IMF/World Bank support of military dictatorships

from Wikipedia: http://en.wikipedia.org/wiki/International_Monetary_Fund#IMF.2FWorld_Bank_support_of_military_dictatorships

“Critics claim that the IMF policy makers supported military dictatorships friendly to American and European corporations. Critics also claim that the IMF is generally apathetic or hostile to their views of democracy, human rights, and labor rights. The controversy has helped spark the Anti-globalization movement. Arguments in favor of the IMF say that economic stability is a precursor to democracy; however, critics highlight various examples in which democratized countries fell after receiving IMF loans.[17]

In the 1960s, the IMF and the World Bank supported the government of Brazil’s military dictator Castello Branco with tens of millions of dollars of loans and credit that were denied to previous democratically-elected governments.[18]”

“Two criticisms from economists have been that financial aid is always bound to so-called “Conditionalities”, including Structural Adjustment Programs (SAP). It is claimed that conditionalities (economic performance targets established as a precondition for IMF loans) retard social stability and hence inhibit the stated goals of the IMF, while Structural Adjustment Programs lead to an increase in poverty in recipient countries.[21]

One of the main SAP conditions placed on troubled countries is that the governments sell up as much of their national assets as they can, normally to western corporations at heavily discounted prices.“

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