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To World Bank: He won't jump, push him out now

by whataboutbob Tue May 8th, 2007 at 03:44:03 AM EST

As I posted in today's Salon, from the New York Times:

World Bank Panel Finds Wolfowitz at Fault

WASHINGTON, May 7 -- A committee of World Bank directors has formally notified Paul D. Wolfowitz that they found him to be guilty of a conflict of interest in arranging for a pay raise and promotion for Shaha Ali Riza, his companion, in 2005. The findings stepped up the pressure on Mr. Wolfowitz to resign. (...) The special committee was still working today on what to recommend. (...)

So what's going on here? Why the long deliberation? If this were a European busted for this (and not Bush's bbf), would they be talking this long? It's politics. But Wolfowitz must go.

I did find this interesting, and believe it is time this happened:

A senior European official said that Europeans have informally told Treasury Secretary Henry M. Paulson Jr. that many of their governments, some of whom asked for the custom to be discarded in 2005, would now renew their demand, especially if Mr. Wolfowitz is forced out by a vote of the bank board.

This official said that the overwhelming sentiment in Europe, as expressed in editorials, political commentaries and even web logs, was that European governments should never again let the United States pick the president of the World Bank all by itself.

In addition, the Europeans say that they have begun signaling their intention of aiding African countries and other poor nations through their own development agencies, rather than through the World Bank or its principal vehicle for aid to the poorest countries, known as the International Development Agency.

Yes, move your international aid out of World Bank!


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This whole situation angers me. No one else but a Neo-con would demand to be excused for unethical behavior. Fire his ass.

"Once in awhile we get shown the light, in the strangest of places, if we look at it right" - Hunter/Garcia
by whataboutbob on Tue May 8th, 2007 at 03:49:51 AM EST
The Project for a New American Cock-Up is proceeding on track. Not only will the Right lose both the House and the Senate and the Presidency, but they'll also lose control of the World Bank.

At this rate the WTO can't be far behind.

If Europe et al are threatening to ignore the Bank and work on their own development projects with their own funding, globalisation may have run into a small and rather fatal iceberg.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Tue May 8th, 2007 at 04:58:29 AM EST
globalisation may have run into a small and rather fatal iceberg

Nah, it's just a change of navigator, not a mutiny. The EU economic policy elite is fully on board with globalisation as we know it.

Bush is a symptom, not the disease.

by Migeru (migeru at eurotrib dot com) on Tue May 8th, 2007 at 05:03:14 AM EST
[ Parent ]
Globalisation has always meant stripping the rest of the planet of value and sending it all to Wall Street.

If Wall Street is out of the picture, that gets to be harder to do. And while I'm sure the EC loves its neo-colonialism as much as the US does, I don't think it has the power to be quite as brutal about it.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Tue May 8th, 2007 at 08:58:19 AM EST
[ Parent ]
As I said in the Salon, this
A senior European official said that Europeans have informally told Treasury Secretary Henry M. Paulson Jr. that many of their governments, some of whom asked for the custom to be discarded in 2005, would now renew their demand, especially if Mr. Wolfowitz is forced out by a vote of the bank board.

This official said that the overwhelming sentiment in Europe, as expressed in editorials, political commentaries and even web logs, was that European governments should never again let the United States pick the president of the World Bank all by itself.

In addition, the Europeans say that they have begun signaling their intention of aiding African countries and other poor nations through their own development agencies, rather than through the World Bank or its principal vehicle for aid to the poorest countries, known as the International Development Agency.

is not only "interesting", it is a friggin' earthquake.

It is too bad that the European union cares more about Wolfowitz's girlfriend than about its own nationals in Guantanamo, the CIA flights/prisons in Europe, the snooping in the SWIFT bank data, and the privacy rights of airline passengers.

So this probably has nothing to do with principles and a lot to do with the Euro getting ready to take over from the US Dollar as global reserve currency, and maybe a drive to replace the Bretton Woods system with a new one. Trouble is, there doesn't seem to be a single highly-placed economist in the EU elite who thinks outside the box on global monetary and "trade" policy, so I'm not optimistic.

Bush is a symptom, not the disease.

by Migeru (migeru at eurotrib dot com) on Tue May 8th, 2007 at 04:59:58 AM EST
The Euro is just the same bollocks as the Dollar: deficit-based and therefore mathematically unsustainable.

Furthermore Banks as credit intermediaries are simply unnecessary: to paraphrase John Gilmour - the Internet interprets Banks as Damage, and routes around them.

A new Bretton Woods is essential, that is true: but let's revisit Keynes'proposal at Bretton woods of an International Clearing Union and a "Value Unit".

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Tue May 8th, 2007 at 06:12:19 AM EST
[ Parent ]
First, what does Wolfowitz get out of a deal that allows the US to pick his replacement? Or is this a case of bribing his backers so that they remove their support (right now that means Bush and Cheney).

Second, no one has discussed who this replacement might be. The logical person that I see is John Bolton. He has "international" experience, he is an SOB, he is liked by Bush and he is out of a job.

Be careful what you wish for. If the board has a non-US majority why make a deal?

Something is fishy about this entire story. It sounds like a plant by the admin to distract people from what is really going on behind the scenes.

Policies not Politics
---- Daily Landscape

by rdf (robert.feinman@gmail.com) on Tue May 8th, 2007 at 08:57:27 AM EST
Of course they will get someone just as bad...but you enjoy the humiliation where you can find it!

"Once in awhile we get shown the light, in the strangest of places, if we look at it right" - Hunter/Garcia
by whataboutbob on Tue May 8th, 2007 at 01:27:10 PM EST
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