Law Commons^™

Public Power And Private Purpose: Odious Debt And The Political Economy Of Hegemony, Deborah M. Weissman, Louis A. Pérez Jr.

Deborah M. Weissman

This Article examines the process by which overlapping interests between private bankers and government translates into influence and power mediated through the use of bank loans as instruments of foreign policy. The article suggests the market transactions often act as a matter of U.S. interests. It makes use of historical narratives not only as means to document the origins of the Odious Debt doctrine, but also to demonstrate the complexity attending efforts to create an Odious Debt doctrine that might function in law. The International Lending Supervision Act, the Baker plan and Brady initiative - policies reinforced through legal interpretations, …