To play devils advocate.. Better capital allocation could make the NGO sector way more effective, and help it actually solve issues like extreme poverty, infan

To play devils advocate.. Better capital allocation could make the NGO sector way more effective, and help it actually solve issues like extreme poverty, infant nutrition and basic healthcare. Currently, one charity could be doing the same thing (say, rural inoculations in Bangladesh) 10X more effectively, but raising far less money. If a financial market can skim their 6% while solving this problem, the return in terms of the number of people inoculated could be 60% or 600%. I share your skepticism though, of solving these issues with with a new type of security. I think money markets may be the best example of free market failures.