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shared by Gene Ellis on 06 Jan 13 - No Cached

shared by Gene Ellis on 15 Jul 12 - No Cached

As Per Kurowski, a former executive director of the World Bank, reminds me regularly, crises occur when what was thought to be low risk turns out to be very high risk.
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Not least, I would do everything I can to eliminate the idea that the state stands behind investment banking. That is an insane idea.
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shared by Gene Ellis on 05 Jan 14 - No Cached

Lethal Malfeasance in Malawi
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a $50 million corruption scandal
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Government investigators believe $500 million in donor money was lost to graft during the eight-year reign of Ms. Banda’s predecessor.
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...5 more annotations...
Donor states started withholding aid, which makes up 40 percent of the country’s budget.
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“For every one I have arrested,” she said of government crooks, “I have lost a whole village of votes.”
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In February the health minister admitted that Malawi’s central medical stores held only 5 percent of the drugs they were supposed to stock.
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Dr. Chiudzu blamed not corruption but an overcentralized state: The hospital is barred from buying supplies itself, yet the Health Ministry, which holds all the procurement power, is unable to meet needs.
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Ms. Banda appeared to agree that poor governance was as lethal as corruption. “
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