Monday, April 09, 2007

Confessions of an Economic Hit Man

In Confessions of an Economic Hit Man, John Perkins tells a fascinating story of intrigue and deception about his previous job ripping off other countries on behalf of American corporations. He would sell inflated infrastructure projects (airports, electricity grids, etc.) to foreign countries that couldn't afford them. The countries would take out loans from American banks as long as the project contracts were given to American companies. The money never left America! The projects and loans were designed for default and the countries would become American puppets after being bailed out.

Some readers cannot believe this story, claiming it's fodder for conspiracy theorists. I have no problem believing this story. I have a problem accepting that he waited 20 years to tell it for fear (and greed). And I do think he needs to make way more restitution than this confession.

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