Topic: another big gov't program goes bankrupt :)
heavenlyboy34's photo
Mon 10/05/09 09:43 AM
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/6255816/World-Bank-could-run-out-of-money-within-12-months.html

World Bank could 'run out of money' within 12 months

Key quotes-
"The Bank, whose job it is to support low-income countries, has had to hand out so much cash in the wake of the financial crisis that it faces a shortfall in what it can spare for new projects within 12 months."

“By the middle of next year we will face serious constraints,” said its president Robert Zoellick, as he launched a major campaign to persuade rich nations to pour more money into the Washington-based institution.

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Looks like the US's grip on the world economy is loosening. The world is fortunate in that regard. Bad news for people who believe in government solutions, as the World Bank is one of the sacraments of their statist quasi-religion.