Financial Access at Birth

(Via Felix Salmon)

Here's a clever, yet depressing idea:

We propose that starting November 11, 2011 (11/11/11), every child born in this world will start life with a Financial Access at Birth (FAB) bank account. The opening of these “FAB” bank accounts would be integrated with the official birth registration process and perhaps with electronic banking. Governments, with the help of institutional/individual donors will make a deposit of US$100 in each FAB account.

The barriers in the way of this idea are legion, the scope of the problem they are trying to solve is depressing -

-but it's still a damn good idea.