Crisis may set back poorest: World Bank panel

[amyrose2712]

Source: NewsDaily.com/Reuters

WASHINGTON, Oct. 12, 2008 (Reuters) — World finance and development ministers warned on Sunday that developing countries risked serious and lasting setbacks from the global financial crisis and urged major economies to deliver on aid pledges.
(Snip)

World finance leaders on Sunday endorsed an action plan by major economies to chart a course out of the crisis, which began in the U.S. housing market and soon spread to Europe, triggering the most severe downturn in years.

In a communique, the development committee called on the World Bank and its sister organization, the International Monetary Fund, to draw on the full range of their resources to help countries that may encounter problems, not only from the credit crisis, but also from high food and fuel prices.

"The poorest and most vulnerable groups risk the most serious -- and in some cases permanent -- damage," the development committee communique said.

Read more: http://www.newsdaily.com/stories/tre49b3ra-us-financial-worldbank/

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Isn't that always the way. Everything on the backs of the poor. Ain't capitalism great? Greed at its finest.

[Faygo Kid]

1. The poorest and most vulnerable are taking it in the teeth? Shocked. Shocked, I tell you.

Round up the usual suspects.

Of course I'm a liberal Dem.

[OhioChick]

2. K&R

:kick:

[raccoon]

3. No shit, sherlock. Rec'd. nt

[struggle4progress]

4. As usual: "... and those that have not, even the little that they have will be taken away ..."

[slackmaster]

5. The poorest people always suck hind teat even when the economy is strong

They get nickle-and-dimed to death constantly.

[AlphaCentauri]

6. "permanent damage"

the poor is alway in permanent damage when they don't get opportunities to succeed