Privatizing the Water Supply

As you know, the world banking industry has its hands in most third world countries' economies, making loans on the condition that the countries introduce extreme austerity and privatization of public resources, including water supplies.

This article will explain the water privatization issue and its obvious problems. The money quote  (pun unintended, but you are welcome to it) for me:

In addition, financing by the IFC, which is both investor and adviser on these projects, poses a conflict of interest. On the one hand, the IFC is advising governments to privatize the sector; on the other, it’s investing in the corporations getting those contracts. “It’s self-dealing: setting up a project that it’s in a position to profit from,” Naficy told me. When the IFC was established in 1956, it was expressly prohibited from purchasing corporate equity to avoid this sort of conflict, but the board amended this rule a few years later, allowing these kinds of deals.

  alJazeera

See any problem there?...but hey, do what you want...you will anyway.