HOMESTEAD: Including Turnbull statment on World Bank action subject to confirmation of facts

[Deborah Groban Olson <dgo@esoplaw.com>]

Shann and David:

        I have included the following paragraph in the Ownership for All Homestead chapter subject to verification. I would like you to get me verification of the portion in bold italics from whomever speaks from the President of the World Bank as well as David Ellerman and Ann Pettifore that this is correct. If it requires any changes or explanation, please  get those for me as well.

Many thanks,
Deb

"Shann Turnbull developed another proposal for using central banks to broaden ownership for the May 2001 COG meeting.

 He also presented the
paper to the President of the World Bank.  It  explains how
client countries could establish self-financing economic development on a
democratic basis consistent with the mission of COG and that of the World
Bank to "eliminate poverty" and provided a basis for
terminating the need for the World Bank and other international lending
institutions when foreign exchange was not required in a development
project. In consultation with David Ellerman and Ann Pettifor,
Turnbull developed a plan for the World Bank to sell its loans to a
self-financing Economic Development Facility established in client
countries funded by their Central Bank.  The President of the Bank
gave Ellerman permission to develop this proposal but added his own idea
that loans from the World Bank to the private sector in client countries
also be included in the buy back proposal. "(Note to the Editor: The
two preceeding sentences still require fact checking with the involved
parties.)

Deborah Groban Olson

Executive Director

Capital Ownership Group (COG)

COG web site - http://cog.kent.edu

Email: cog@kent.edu

c/o Atty. Deborah Groban Olson ,of counsel to

Jackier, Gould, Bean, Upfal & Eizelman, P.C.

1021 Nottingham Rd.

Grosse Pointe Park, MI 48230

Phone: (313) 331-7821

Fax: (313) 331-2567

Email: dgo@esoplaw.com

Web site:
www.esoplaw.com