AS Award #4
Obviously the news of my AS Award must be spreading very quickly since the competition for this award seems to be accelerating. Can it be long before the AS Award overtakes the Nobel Prize in prestige?
I am pleased to announce the second winner this week: the World Bank. I bestow this honor on this institution for recommending that the developed countries transfer US$200 billion annually to the poorest countries of the world in order to help them cope with the fallout from global warming.
How much of the annual transfer would end up in the pockets and offshore accounts of the enlightened rulers of these countries and their families and friends — 90%, 70%?
In other words, the Bank is suggesting that middle class taxpayers in the richest countries transfer part of their income each year to the despots running many of these countries. Robin Hood would be most displeased with this scheme. Wouldn’t these countries be better off with their armies disbanded and their “beloved” despots disappearing with their stolen wealth used to help their people?
Perhaps, we might be able to induce these leaders to invest their share of the transfers in AIG and other bailout recipients.
I am surprised the Bank did not add another $200-$300 billion to this tab to help the oil producing countries adjust as well. Maybe this will be their next recommendation.
Congratulations to the World Bank for being the fourth recipient of the award, and for being as deserving as the preceding three.