Posted by
William Sandry on Tuesday, May 15, 2007 5:57:57 PM
If the World Bank removes Paul Wolfowitz the United States should remove itself from the World Bank. The transparent plot by the entrenched corrupt bureaucracy, lead by its “ethics” committee, to remove the head of the bank makes it quite clear that he was becoming effective in cleaning up the corruption. He had become a potential risk to those involved in the corruption. Paul Volker should be called to investigate the members of their “ethics” committee.
The overwhelming support for Wolfowitz by the poor African nations that are benefiting from a more ethical World Bank make the Banks’ addiction of corruption obvious. These countries are tired on being ripped-off buy the corrupt bankers, many of whom are European and are leading the charge to remove Wolfowitz.
A Wolfowitz removal will signal it is time to divest ourselves of any cooperation or support for the only world institution as corrupt as the UN. If the United States and the other countries that are truly interested in helping poor countries started a new bank, a Global Ethical Bank, it is clear they would immediately have the best clientele from these struggling nations. Only those nations interested in maximizing the financial benefits to its people would transfer debt or apply for credit because they would be the only countries willing to comply with the more stringent and ethical standards to ensure the money is getting to whom it is supposed to go and be put toward its intended use.
What ever existing financial obligations we have with the World Bank will remain the same whether we stay there or not. Why keep putting more money in a failed financial institution? We can start over with a bank that can work and accomplish the goals the failed World Bank was intended to accomplish. The removal of Wolfowitz is proof that the inner circle controlling that bank does not want to, and will not tolerate, the inspection, discovery and removal of corrupt systems and personnel. We can only win by starting a new bank.