I'll not pretend that Bono is infallible. But he has done more in the past few years to bring the world's attention to developing countries than most politicians and diplomats have in decades. Is it sad that the funny man in the glasses has to be the one to get our attention? Of course, but I suspect Bono would be the first to agree with that. That being said, Bono -- as well as many hard-working, and less-famous, members of civil society -- also would agree that you don't just "throw money at the problem." Bono has advocated for building up African-based businesses, instituting fair trade policies so African nations can compete on an even playing field, and investing money saved from debt cancellation into public health and education. Yes, he's also advocated for wealthy countries to pony up their fair share of foreign aid as well -- but he recognizes that aid without fair economic policies goes nowhere; and vice versa. He may not be perfect, but when it comes to picking out people who deserve criticism for unfair attitudes toward the developing world, you could do a lot better than Bono.
Recent perspectives from the equally fallible, but no less useful, Nicholas D. Kristof here: http://screwsubwalls.blogspot.com/2007/08/bono-foreign-aid-and-skeptics.html