Wolfowitz flies into World Bank storm: Sunday Times

[emad]

March 20, 2005

Wolfowitz flies into World Bank storm
Tony Allen-Millsin Washington



THE cerebral Pentagon hawk Paul Wolfowitz, who has been nominated to head the World Bank, will be warned this week that a financial scandal is brewing at the world’s largest development agency over allegations of serious irregularities in its internal accounts.

A congressional investigation has been launched into allegations that bank staff covered up accounting problems that encouraged “a culture of corruption” at the bank. Members of staff who reported accounting errors involving tens of millions of dollars also claim to have been punished for coming forward.

The new investigation by Congress’s joint economic committee follows a long-running inquiry by the Senate foreign relations committee into widespread allegations of corruption in the management of the bank’s development projects in many Third World countries.

At a hearing last year, Senator Richard Lugar, an Indiana Republican, ignited a political storm by citing academic estimates that more than $100 billion (£52 billion) had been lost to bribes, fraud and waste over the past 60 years. The bank has repeatedly been accused of propping up corrupt regimes by failing to apply proper safeguards to the $15 billion- $25 billion that it disburses annually in development loans.

http://www.timesonline.co.uk/newspaper/0,,176-1533086,00.html

[KittyWampus]

1. Oh, Now Appointing A Crony Makes PERFECT Sense. More CYA

He'll be just the beast to look the other way and obfuscate and misdirect.

[DoYouEverWonder]

4. Plus he will have the excuse

that all of this happened before he was in charge, therefore he is not responsible.

[emad]

2. "Riggs World Bank for Deconstruction & Embezzlement:"

Poodle Brothers nominate Big Bad Wolf for top Bank job:
http://www.thespoof.com/news/spoof.cfm?headline=s1i7689

[donco6]

3. Gosh, he should feel right at home, then. eom

[American in Asia]

5. Convenient, huh?

Since the days of Newt the Republicans have looked to find corruption and waste in any international organization possible, as justification for pushing through their "reforms" or cutting their contributions. I'm not saying there weren't problems.

Just saying it sure is a convenient time to announce such a scandal, huh? Big, bad Wolfowitz is just the guy to get in there and clean house, huh? (We won't mention the billions missing in Iraq, ok???)

:eyes:

[Journeyman]

7. And the World Bank Staff announced late Friday that they objected. . .

to Wolfowitz's appointment. How convenient, to cast light upon this brewing scandal now, at the moment it's needed to ensure Wolfowitz secures the job.

[cliss]

6. Did anyone else listen to the Majority report

last night? There was an author named Anne _ _ _ (I forgot the last name). She brought up Wolfowitz. She mentioned that the fact that Bush is moving him from the Pentagon to the World Bank suggests a huge failure in the war planning.

Wolfowitz is being moved out because things in Iraq are failing, she said.

She speculates that something "spectacular" is about to be revealed over there.

Many, many vile things brewing under the surface. Maybe we'll get a peek soon?

[American in Asia]

8. Can someone explain to me

why Biden and Leahy are supporting his appointment?

Some days I am so discouraged....

[Iterate]

9. Predictable, follow the PNAC trail

This little press piece is about as predictable as they come. Like SS, the WB needs fixing, and wolfie is the fixer with a PNAC solution. The only thing this "news" piece really tells us is who the shills are who pass it on.

So, if the total the WB has given out is $400bn, then 1/4 has been wasted, right? over 60years, and nobody noticed until today?

Anyway, my heart is not warmed by the thought that he'll no longer at the pentagon.