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Bush Wants American At World Bank

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Indeed. Isn't the World Bank just a means of funneling money to corrupt foreign dictators (and a fair chunk of it to corrupt Westerners running the bank)?

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Indeed. Isn't the World Bank just a means of funneling money to corrupt foreign dictators (and a fair chunk of it to corrupt Westerners running the bank)?

letter in May 9th's FT (I believe)

World Bank reduced poverty among its employees

Published: May 9 2007 03:00 | Last updated: May 9 2007 03:00

From Prof Lawrence G. Franko.

Sir, I am perplexed by the continuing kerfuffle over Paul Wolfowitz at the World Bank. Back in my days as a consultant to that organisation, and to others such as the United Nations, everyone knew that one of the major objectives of multilateral bureaucracies was to provide highly remunerative employment and eternal job security for the boyfriends, girlfriends, pals, protégés, allies, not-too-noxious rivals, relatives and hangers-on of the political classes of all nations. The Bank was an especially good resting place for would-be academics who could not obtain tenure at a competitive academic institution. Academics would recommend their protégés to the Bank, and the Bank "managers" would then in turn reach out to their less well remunerated academic brethren and hire them as consultants to do much of the heavy lifting.

This system was extraordinarily effective at reducing poverty among the club of the world's development-intellectual mandarins. Whether it reduced poverty for actual poor people is highly debatable, and is becoming more so, especially in a world in which deep and flexible private capital markets, combined with increasingly responsible emerging market governments, are obviating the need for a single, huge "World" Bank Bureaucracy.

The odds of any restructuring or downsizing by the Bank are, of course, nearly zero, since it is much easier for the rent-seekers of the world to unite than it is for workers and taxpayers.

Lawrence G. Franko,

Concord, MA 01742, US

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I always thought of the world bank as a [.org] giving it a sort of utilitarian oversheen. I never realised it was infact called the "World Bank Group"

hmmmm ;)

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http://news.bbc.co.uk/1/hi/business/6679039.stm

looks like they'll be dumping that 400 tonnes of gold onto the market then...

Blair is being widely touted as the man for the job as the next President of the World Bank.

Indeed, he seems deal because, as First Lord of the Treasury, he oversaw the disposal of most of the UK Gold Reseserves. Lets not forget he coudl have stopped Gordon if he had wanted to.

He is quite pro-Bush as well - which helps!

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Blair is being widely touted as the man for the job as the next President of the World Bank.

Indeed, he seems deal because, as First Lord of the Treasury, he oversaw the disposal of most of the UK Gold Reseserves. Lets not forget he coudl have stopped Gordon if he had wanted to.

He is quite pro-Bush as well - which helps!

Aren't we all? Working for the ***** is a hole different ball game :lol:

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