Saturday, February 13, 2010

Netanyahu-Fayyad plan

"A year on, the cost of the Netanyahu-Fayyad plan is becoming clear. Low-income Palestinian families and small business are being encouraged to borrow to fuel a high-risk economy. Israel has proven time again that it won't hesitate to strike a blow against Palestinian infrastructure should they dissent from the current consensus in its favor. Families are risking their possessions as collateral for their debts. Corporations responsible for the global financial collapse are applying their failed models in Palestine. Abraaj Capital, a Dubai-based investment fund that recently sparked fears for debt default, announced a $50 million private equity fund dedicated to "raising standards of living," mirroring the predatory behavior that led to the collapse of the sub-prime mortgage system in the US." (thanks Sarah)