Wouldn't you know that if Bush makes a speech that sounds remotely like he wants to do something good, you have to know that there is a massive corruption scam that is really behind it.

So when Bush announces that we need to put up billions of dollars to help alleviate crushing third world debt, especially in Africa, it is not going to be Africans who are going to benifit.

One's first thought is that the banks who have loaned money will get the taxes, and that is indeed a part of it, but only the beginning. The American Taxpayers pay the interest to the bank so the African countries can pay off just the principal. But that is not what happens.

Instead of going to the African country involved, the now discounted bonds go to "friends of Bush" who twist the usually unenforced draconian language to the most draconian methods possible, not only to pry the last dollar of unearned interest, but since the loans were often involving corrupt deposed (sometimes imprisoned) dictators, they have used the fact to double or treble the already outrageous interrest. Among the worst is Paul Singer, not only connected to Bush and the "swiftboaters" but also the major support to Rudy Guliani.

BBC has the story "asking for Justice not Charity" on Newsnight.