Wolfowitz to World Bank
In this administration you fail UPWARDS! Congrats,Paul!
I thought Bono was getting that job?
I thought he was pretty decent when he was a reporter on CNN. But then again, I only watched CNN when staying at hotels.
Can someone remind me again why the U.S. President gets to choose the leader of the World Bank?
Can someone remind me again why the U.S. President gets to choose the leader of the World Bank?
Originally posted by HoyaSaxa03:The writing was on the wall..the Financial Times wrote about it some weeks back…I just really hoped it wouldn't happen..
I'm sorry for all you development people out there …
article
Originally posted by Charlie Nakatestes, Japanese Golfer:I might be off on this but I believe Europeans choose the IMF director and the US appoints the WB director. Still, I might be completely off on this one, read it somewhere.
I thought he was pretty decent when he was a reporter on CNN. But then again, I only watched CNN when staying at hotels.
Can someone remind me again why the U.S. President gets to choose the leader of the World Bank?
As for Wolfowitz being the president of the WB, I think this is a disaster, but what can you expect from Bush and the far right?
I bet Rummie gets to be ambassador to Amnesty International or something.
I'm still trying to figure out who's the biggest moron, Dubya himself, or those who voted for him.
I'm still trying to figure out who's the biggest moron, Dubya himself, or those who voted for him.
Here's to hoping an American appointee doesn't get approval. It was bound to happen once, right?
Originally posted by Barcelona:yep.
Originally posted by Charlie Nakatestes, Japanese Golfer:I might be off on this but I believe Europeans choose the IMF director and the US appoints the WB director. Still, I might be completely off on this one, read it somewhere.
Can someone remind me again why the U.S. President gets to choose the leader of the World Bank?
it may be a wee long but it should answer any questions on the topic:
Paul Wolfowitz to Be Nominated as Next World Bank President
2005-03-16 09:24 (New York)
By Simon Kennedy and Julie Ziegler
March 16 (Bloomberg) – Paul D. Wolfowitz, the Deputy
Secretary of Defense, will be nominated to be the next head of
the World Bank, a U.S. official said.
President George W. Bush will name Wolfowitz later today,
the official said. He would replace James Wolfensohn, 71, who
said in January that he would leave the institution when his term
ends May 31.
Wolfowitz's nomination must be approved by all of the World
Bank's member countries, which analysts said would be largely a
formality. By tradition, the U.S. chooses the head of the World
Bank, and European officials choose the managing director of the
International Monetary Fund.
Treasury Department spokesman Rob Nichols declined to
comment on the nomination.
Other candidates for the World Bank position included former
Hewlett-Packard Co. Chief Executive Officer Carly Fiorina and
Bush administration AIDS policy chief Randall Tobias.
Wolfowitz was a strong advocate of the Iraq war, advocating
the toppling of Saddam Hussein and helping the administration
craft its rationale for the invasion. The U.S. official said
Wolfowitz is a proven leader, intellectually and operationally.
World Bank Scope
His management experience running the Pentagon, the largest
government agency with nearly 700,000 civilian employees and 1.3
million in uniform will serve him well at the World Bank, the
official said.
Responding to a report in the Financial Times earlier this
month that Wolfowitz was a candidate for the World Bank, a
Defense Department spokesman said he would remain at the
Pentagon. ``Secretary Wolfowitz has been asked to stay on in an
extremely important job, one that he likes doing very much,''
Defense Department spokesman Larry DiRita said March 1.
Under Wolfowitz, the Bush administration may now try to
narrow the focus of the World Bank, returning the international
lending institution to its roots of primarily financing large
infrastructure projects and limiting the practice of handing out
zero-interest loans, analysts such as Alan Meltzer, who led a
2000 congressional inquiry into the World Bank, said.
Management Goal
The lender, the largest financier of projects in developing
nations, broadened its scope under Wolfensohn, who sought a more
``humanizing'' role for the bank, according to Joseph Stiglitz, a
Nobel Prize-winning professor at Columbia University and former
chief economist of the World Bank.
Since taking over in 1995, Wolfensohn cut by 40 percent
financing for dams, bridges and infrastructure projects, and
shifted that money to programs promoting climate change and
development.
The U.S. is seeking to scale back some of Wolfensohn's
projects, overhaul the bank's $20 billion a year lending
operation and more effectively manage more than 10,000 employees
scattered in 109 nations, Meltzer said.
Bush named Wolfowitz, 61, as deputy to Defense Secretary
Donald Rumsfeld in February 2001. Then dean of Johns Hopkins
University School of Advanced International Studies, Wolfowitz
was a veteran of both the State and Defense Departments.
State, Defense Veteran
He served as undersecretary for policy for Vice President
Dick Cheney when Cheney headed the Pentagon during the
administration of former President George Bush, the current
president's father.
From 1986 to 1989, Wolfowitz was the U.S. ambassador to
Indonesia, and assistant secretary of state for East Asian and
Pacific Affairs from 1982 to 1986. He worked on arms control and
disarmament issues in federal agencies in the 1970s.
Wolfowitz was a critic of former President Bill Clinton's
approach toward China and Russia, and urged tougher stances on
those countries' missile transfers to Iran. He also supported
providing international financial assistance to Indonesia during
the Asian financial crisis, testifying before Congress that it
served U.S. interests.
From 1995 to 2001, Wolfowitz was a director of toy maker
Hasbro Inc. He received a Masters degree in administration and a
Doctorate in political science and economics from University of
Chicago.
Paul Wolfowitz to Be Nominated as Next World Bank President
2005-03-16 09:24 (New York)
By Simon Kennedy and Julie Ziegler
March 16 (Bloomberg) – Paul D. Wolfowitz, the Deputy
Secretary of Defense, will be nominated to be the next head of
the World Bank, a U.S. official said.
President George W. Bush will name Wolfowitz later today,
the official said. He would replace James Wolfensohn, 71, who
said in January that he would leave the institution when his term
ends May 31.
Wolfowitz's nomination must be approved by all of the World
Bank's member countries, which analysts said would be largely a
formality. By tradition, the U.S. chooses the head of the World
Bank, and European officials choose the managing director of the
International Monetary Fund.
Treasury Department spokesman Rob Nichols declined to
comment on the nomination.
Other candidates for the World Bank position included former
Hewlett-Packard Co. Chief Executive Officer Carly Fiorina and
Bush administration AIDS policy chief Randall Tobias.
Wolfowitz was a strong advocate of the Iraq war, advocating
the toppling of Saddam Hussein and helping the administration
craft its rationale for the invasion. The U.S. official said
Wolfowitz is a proven leader, intellectually and operationally.
World Bank Scope
His management experience running the Pentagon, the largest
government agency with nearly 700,000 civilian employees and 1.3
million in uniform will serve him well at the World Bank, the
official said.
Responding to a report in the Financial Times earlier this
month that Wolfowitz was a candidate for the World Bank, a
Defense Department spokesman said he would remain at the
Pentagon. ``Secretary Wolfowitz has been asked to stay on in an
extremely important job, one that he likes doing very much,''
Defense Department spokesman Larry DiRita said March 1.
Under Wolfowitz, the Bush administration may now try to
narrow the focus of the World Bank, returning the international
lending institution to its roots of primarily financing large
infrastructure projects and limiting the practice of handing out
zero-interest loans, analysts such as Alan Meltzer, who led a
2000 congressional inquiry into the World Bank, said.
Management Goal
The lender, the largest financier of projects in developing
nations, broadened its scope under Wolfensohn, who sought a more
``humanizing'' role for the bank, according to Joseph Stiglitz, a
Nobel Prize-winning professor at Columbia University and former
chief economist of the World Bank.
Since taking over in 1995, Wolfensohn cut by 40 percent
financing for dams, bridges and infrastructure projects, and
shifted that money to programs promoting climate change and
development.
The U.S. is seeking to scale back some of Wolfensohn's
projects, overhaul the bank's $20 billion a year lending
operation and more effectively manage more than 10,000 employees
scattered in 109 nations, Meltzer said.
Bush named Wolfowitz, 61, as deputy to Defense Secretary
Donald Rumsfeld in February 2001. Then dean of Johns Hopkins
University School of Advanced International Studies, Wolfowitz
was a veteran of both the State and Defense Departments.
State, Defense Veteran
He served as undersecretary for policy for Vice President
Dick Cheney when Cheney headed the Pentagon during the
administration of former President George Bush, the current
president's father.
From 1986 to 1989, Wolfowitz was the U.S. ambassador to
Indonesia, and assistant secretary of state for East Asian and
Pacific Affairs from 1982 to 1986. He worked on arms control and
disarmament issues in federal agencies in the 1970s.
Wolfowitz was a critic of former President Bill Clinton's
approach toward China and Russia, and urged tougher stances on
those countries' missile transfers to Iran. He also supported
providing international financial assistance to Indonesia during
the Asian financial crisis, testifying before Congress that it
served U.S. interests.
From 1995 to 2001, Wolfowitz was a director of toy maker
Hasbro Inc. He received a Masters degree in administration and a
Doctorate in political science and economics from University of
Chicago.
Originally posted by Barcelona:Yeah, that's basically right, except it's not engraved into law, just tradition. If the Europeans had a huge problem with Wolfowitz they could block him, but it would probably result in the U.S. blocking their choice to lead the IMF. Experts on NPR figured the Europeans would grudgingly accept the status quo.
I might be off on this but I believe Europeans choose the IMF director and the US appoints the WB director. Still, I might be completely off on this one, read it somewhere.
Why is this bad?
where's Rob Gee's take on this.
i figured he would weigh in , but i guess not.
I'll do it for him
"_____ insurgents _______ fuck em all _______ love Bush _____ defeat ________ my nice paying job :D "
i figured he would weigh in , but i guess not.
I'll do it for him
"_____ insurgents _______ fuck em all _______ love Bush _____ defeat ________ my nice paying job :D "
Originally posted by ggwâ?¢:I'm not going to get into any argument over this, but basically because the World Bank is a development agency, not a war agency. Not that the WB is a perfect institution, but to have this guy directing it might end up being a disaster. Just my opinion. Feel free to disagree and point out to articles talking about the mistakes and corruption in these types of institutions, it's just my opinion. And I believe Bush today talked about him being compassionate? here we go again. The least compassionate people on earth talking about compassion.
Why is this bad?
Wolfowitz's career experience is not limited to his time at DoD. Also, McNamara was at Defense before leading the Bank for 13 years, so this isn't unprecedented.
Originally posted by Barcelona:
I'm not going to get into any argument over this, but basically because the World Bank is a development agency, not a war agency. Not that the WB is a perfect institution, but to have this guy directing it might end up being a disaster. Just my opinion. Feel free to disagree and point out to articles talking about the mistakes and corruption in these types of institutions, it's just my opinion. And I believe Bush today talked about him being compassionate? here we go again. The least compassionate people on earth talking about compassion.
Originally posted by Barcelona:he is concerned about oil prices though!
And I believe Bush today talked about him being compassionate? here we go again. The least compassionate people on earth talking about compassion.
"I'm concerned about what it means to the average American family when they see the price of gasoline going up,"
(it means they're going to be broke, asshole)
amazing… virtually everything Wolfowitz predicted in the planning stages about the Iraq war turned out to be wrong, from it being a "cakewalk," to only needing 30,000 troops to keep the peace after the invasion, to the Iraqis welcoming us with flowers.
If this were private industry, he'd have been fired, but since it's an ideology-blinded administration, he gets promoted.
If this were private industry, he'd have been fired, but since it's an ideology-blinded administration, he gets promoted.
Originally posted by ggwâ?¢:I don't know enough about the World Bank to make a reasonable/well thought out post. I guess it really depends on whether or not you believe Wolfowitz will be someone who has the world's best interests at heart, rather than simply another crony tool in a place that allows Bush to leverage power in the direction he wants to.
Wolfowitz's career experience is not limited to his time at DoD. Also, McNamara was at Defense before leading the Bank for 13 years, so this isn't unprecedented.
Originally posted by Barcelona:
I'm not going to get into any argument over this, but basically because the World Bank is a development agency, not a war agency. Not that the WB is a perfect institution, but to have this guy directing it might end up being a disaster. Just my opinion. Feel free to disagree and point out to articles talking about the mistakes and corruption in these types of institutions, it's just my opinion. And I believe Bush today talked about him being compassionate? here we go again. The least compassionate people on earth talking about compassion.
At least it's not the WTO.
Originally posted by O'Mankie:He can pretty much forget about any of that forgiving-of-third-world-debt nonsense now.
I thought Bono was getting that job?