The following is a brief excerpt from a review posted on PopandPolitics.com:Why is the Third World still struggling so far behind the First World, even though millions of dollars have been invested and/or donated to help them move up the development ladder? That is a question that has plagued many people since former colonies were given sovereignty after World War II.
Why is it that today, in 2005, many Third World nations do not have clean water or sanitization systems? Why are they stricken with high rates of child mortality? Why are AIDS and malaria killing more people than civil war in many parts of the world? And for that matter, why do these Third World societies keep collapsing into civil war in the first place?
In “The Blood Bankers: Tales from the Underground Global Economy,” author James S. Henry -- former chief economist for McKinsey & Co., VP Strategy for IBM/Lotus, one of the original "Nader's Raiders," and founder/managing director of the Sag Harbor Group -- explains why from 1970 to 2003, over three trillion dollars were loaned to developing countries by the West and yet today, many of those same countries are struggling with high rates of poverty.
“The Blood Bankers” is the behind the scenes account of what happened and an explanation of where all that money went. Henry reveals unsparingly the convoluted snarl of transactions, often legal but usually immoral, that resulted in the further impoverishment of the Third World. Read More
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