Confessions of an Economic Hit Man

Perkins writes that his economic projections cooked the books Enron-style to convince foreign governments to accept billions of dollars of loans from the World Bank and other institutions to build dams, airports, electric grids, and other infrastructure he knew they couldn't afford. The loans were given on condition that construction and engineering contracts went to U.S. companies. Often, the money would simply be transferred from one bank account in Washington, D.C., to another one in New York or San Francisco. The deals were smoothed over with bribes for foreign officials, but it was the taxpayers in the foreign countries who had to pay back the loans. When their governments couldn't do so, as was often the case, the U.S. or its henchmen at the World Bank or International Monetary Fund would step in and essentially place the country in trusteeship, dictating everything from its spending budget to security agreements and even its United Nations votes. It was, Perkins writes, a clever way for the U.S. to expand its "empire" at the expense of Third World citizens. While at times he seems a little overly focused on conspiracies, perhaps that's not surprising considering the life he's led. --Alex Roslin

Book Description
John Perkins was an economic hit man. His job was to convince countries that are strategically important to the United States—from Indonesia to Panama—to accept enormous loans for infrastructure development and to make sure that the lucrative projects were contracted to U.S. corporations, such as Halliburton and Bechtel. Saddled with huge debts, these countries came under the control of the U.S. government, World Bank, and other U.S.-dominated aid agencies that acted like loan sharks, dictating repayment terms and bullying foreign governments into submission.

This extraordinary true story exposes international intrigue, corruption, and little-known government and corporate activities that have dire consequences for American democracy and the world.