Monday, February 01, 2010

An insightful article on Haiti

I want to recommend an article if only for the title. Take a look: "The West Owes Haiti a Bailout. And It Would Be a Hand-Back, Not a Handout"

Here's a short excerpt:

The world cannot yet find $1bn in debt relief for Haiti, the poorest country in the western hemisphere, a country that spent more in 2008 servicing its debt than it did on health, education and the environment combined and that has now been flattened. But, over a weekend, a single country could rustle up $85bn to keep a single company [AIG] in business. It is an obscene reminder that, in the world of global capital, distressed assets are still more valued than distressed people.

I do recommend that you click through and read the whole article that was originally published in the Guardian. It is a short, concise summary of Haiti's history and just why that bailout to them would, indeed, be a hand-back.

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