Finally, United States former Deputy Secretary of State and current World Bank President Paul Wolfowitz has been exposed for his unfortunate lack of judgement which borders on corruption. This is the very person who champions clean governance and preaches anti-corruption messages. So much about righteousness!
This New York Times article is comprehensive and details the political economy of the World Bank. Its interest is that it demonstrates where the decisions are made regarding the supposed development institution, and how the few majority shareholders run the institution. The decisions of these majority shareholders reflect their views and preferences at the expense of the majority. This demonstrates beyond doubt that the World Bank is an undemocratic organisation. Now the Wolfowitz issue demonstrates that it is also corrupt to the extent we cannot really know!
The link below shows video footage of Wolfowitz accepting his corruption.
http://news.bbc.co.uk/player/nol/newsid_6550000/newsid_6550900/6550985.stm?bw=nb&mp=rm
Click story headline for full story
Article courtesy of The New York Times
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