Posted on 05/07/2007 6:51:36 AM PDT by ricks_place
The current crisis at the World Bank is a chance finally to fix the governance problems at the world’s major institution for promoting development. It is time for the US to give up its hold on picking the president of the bank and for Europe to give up its grip on choosing the president of the International Monetary Fund. Had the process of picking the president been truly democratic and fair in the first place, it is almost certain that Paul Wolfowitz would never have been selected.
There is now a global consensus that Mr Wolfowitz will have to leave the World Bank. In democratic societies, leadership requires the confidence of those being led. Mr Wolfowitz has lost that confidence and will not be able to restore it in the three years remaining in his lame-duck tenure. He could, of course, try to appoint more loyalists at the top. But that would only lead to more alienation from the more than 10,000 employees who must carry out the bank’s mission.
(Excerpt) Read more at ft.com ...
It’s time for the U.S. to stop funding the World Bank. Take the same amount of money and give to that fellow who makes micro-loans. That would be far better and have much better results than giving it to dictators who bleed off huge chunks for their Swiss avvounts.
There can be no good end to this type of palace revolution that trumps up fake scandals and demands men’s heads for lack of confidence. It skirts every protection of due process.
Yes, and the FT has placed a key role in promoting this fake scandal.
The Financial Times has evolved over the years into a Communist rag.
I have long admired Wolfowitz. In 1969, when the Nixon administration was battling to develop and deploy the Safeguard anti-ballistic missile system over the objections of liberals and pacifists, a fight which was ultimately lost, Wolfowitz, Richard Perle, and Pete Wilson came to be known as the Three Musketeers as for their efforts on behalf of Safeguard.
What is to be admired about Wolfy? He actually wants to pour money into the foreign aid rathole.
Here is some more news regarding the real corruption in the World Bank:
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