Friday, December 3, 2010

Grameen Bank's Yunus 'stole' $100 mn

Grameen Bank's Yunus 'stole' $100 mn: "- Sent using Google Toolbar"

Is this really so surprising? NGO people are slick operators; every gentleman I know who has tried to do good has come to grief. You have to be cold-blooded and sly to create a money-generating organisation.

What is even less surprising is the donors' complicity in keeping the matter hushed up. Donors know well how sleazy the world of NGOs is: only 25% of donor money ever reaches the poor.

Furthermore, during the caretaker government rule, it was found that Grameen Phone was guilty of massive illegal activity in the provision of VOIP services which were illegal. Yunus, of course, knew nothing about such shenanigans.

One NGO that collapsed because the protege got out of hand was GSS (Gono Shahajjo Shangstha): donors had known for years that the director was a predatory skirt-chaser.

Another large NGO that imploded was Proshika: its former director eventually resorted to vandalism of his own erstwhile offices to try and get it back. He had packed the board with cronies and gone into politics, something an NGO is not supposed to do.

The function of NGOs in Bangladesh and elsewhere is not to help the poor but to buy the loyalty of the elite.

In this, they succeed admirably.

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