Showing posts with label The World Bank. Show all posts
Showing posts with label The World Bank. Show all posts

Saturday, March 07, 2009

Looking at Today's Financial Crisis Through a Historical Lens

This is a MUST READ:

BANKERS MANIFESTO 1917/1934 - iReport.com

It's difficult to read the documents linked above and not join the ranks of the "conspiracy nuts" of the world. One cannot help but draw parallels to our current financial crisis and come to logical conspiratorial conclusions.

Am I wrong?

Saturday, May 19, 2007

Résumé of Doom


By Maureen Dowd
The New York Times

Paul Wolfowitz may be out of a job soon, but think of what an amazing résumé he’ll be shopping around:

Work Experience

President of World Bank: 2005-2007

Responsibilities: Reining in European lefties, raining tax-free money on Arab girlfriend, and giving anti-corruption efforts a bad name.

Achievements: Paralyzed the international lending apparatus to the point where small countries had to max out their Visa cards to pay for malaria medicine. Learned the traditions of many cultures, including those of Turkey, where you apparently are not supposed to take off your shoes at mosques to reveal socks so full of holes that both big toes poke blasphemously through.

Deputy Secretary of Defense for President George W. Bush: 2001-2005

Responsibility: Starting a war.

Achievements: Mismanaged the world’s most powerful army. Shattered the system of international diplomacy that kept the peace for 50 years. Undermined the credibility of American intelligence operations. Needlessly brought humankind to the brink of nuclear war. Destroyed Iraq.

Demented Visionary: 1993-2001

Responsibility: Concocting a delusional plan for regime change in Iraq with pals like Shaha Riza, Ahmad Chalabi and his merry band of Iraqi exiles who conjured up phony intelligence about Saddam’s W.M.D.

Achievements: Imagining an Iraq that didn’t exist.

Having Wolfie back on the job market is a tremendous opportunity. What do we want destroyed next? Could this walking curse on the world run Halliburton into the ground?

At the Pentagon, Wolfie tried to help Vice get rid of anything multi — multilateral treaties, multilateral institutions, multilateral alliances, multiculturalism. Multi, to them, meant wobbly, caviling, bureaucratic and obstructionist. Why be multi when you could be uni?

In the end, the forces of multilateralism took their revenge: Old Europe got rid of Wolfie.

But not before his gal pal played the multicultural victim card. In her statement to World Bank directors, Shaha complained that she had been denied promotions even before Wolfie got there. “I can only attribute this to discrimination — not because I am a woman, but because I am a Muslim Arab woman who dares to question the status quo both in the work of the institution and within the institution itself,” Shaha wrote.

She said that she had “met a wonderful American woman who told me that I should fight back for ‘us’: WOMEN. It never occurred to me as an Arab and Muslim woman that one day I would be asked by an American woman to fight on her behalf.”

Already aggrieved, Shaha got really furious when Wolfie came in 2005 and she was told she’d have to work out of the State Department.

“I was ready to pursue legal remedies,” she wrote in her statement, adding, “my life and career were torn asunder.”

According to Xavier Coll, the bank’s human resources vice president, Shaha outlined conditions for her departure that were “unprecedented” in terms of guarantees and rewards and way out of line with bank policy. Mr. Coll deemed it “inappropriate and imprudent for the president to offer Ms. Riza these terms.”

Bob Bennett, Wolfie’s lawyer, told Michael Hirsh of Newsweek that it was Shaha who “worked up the numbers” on a $60,000 raise to a $193,590 salary and cushy new deal. “She was outraged that she had to leave,” Mr. Bennett said.

The self-righteous Shaha played on Wolfie’s guilt, becoming “greedy in terms of power,” as a friend of the couple told Newsweek. Even though she had been a mere flack a few years ago and then a gender coordinator at the bank, Shaha mau-maued her man into giving her a salary that topped the secretary of state’s.

It’s like when Bill Clinton tells friends that he has to work hard to get Hillary elected president because he feels he owes her for bringing her to Arkansas in the 70s and interrupting her career. (But do we?)

Or when Tony Soprano gets Carmela some fancy piece of jewelry after he strays. Indeed, Wolfie sounded Sopranoish when he agitatedly told Mr. Coll to warn those at the bank he believed were attacking him: “If they $%#! with me or Shaha, I have enough on them to $%#! them, too.”

Wolfie used public compensation for private contrition. Gilt for guilt — not a good deal.

Photo Credit: Maureen Dowd. (Fred R. Conrad/The New York Times)

Monday, May 07, 2007

Don't Cry For Wolfie.

He deserves not a drop of sympathy.

ABC News reports that "A special panel has found that World Bank President Paul Wolfowitz broke bank rules in arranging a pay package and promotion for his girlfriend, a person familiar with the report said Monday.

Wolfowitz was presented with the findings by the special bank panel investigating his handling of the 2005 promotion and pay raise of bank employee Shaha Riza.

The report was not made public, but the person familiar with its findings confirmed that violations were cited but did not provide any details. The person spoke on the condition of anonymity because the report has not yet been released.

World Bank officials were bracing for a finding that Wolfowitz may have breached conflict of interest rules in arranging the pay package for Riza.

The controversy over Riza's pay package has spurred calls for Wolfowitz' resignation. He is fighting to hold onto his job...."

Photo Credit: World Bank President Paul Wolfowitz speaks during a news conference in Washington in this April 15, 2007 file photo. (AP Photo/Manuel Balce Ceneta, File)

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