Actually Live8 was about raising awareness not fundraising.

I was actually really impressed about that. I suspected that it would just be like LiveAid and be rubbish and pointless, but it was actually more intelligent and at least the musicians didn't really pretend to be experts on the subject.

But yeah your point on international debt is valid. Everyone owes everyone loads. Still, it has it's uses. No one is going to attack someone who owes them money are they? And you can't attack someone who can suddenly pull in the huge debt you owe them.