Obama May Pick Larry Summers to Head World Bank

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Larry Summers? Are they serious? If that is the case you might as well consider their latest "Global Economic Prospects" report the last resemblance of reality to ever come from the organization. I was actually surprised that their most recent report actually had shades of reality in it (you hardly ever see that from organizations like the World Bank, IMF etc)! With Larry Summers in charge you can be sure not even "shades" of reality would be accepted!
http://www.wallstreetrant.com/2012/01/world-bank-issues-world-rare-reality.html

Wall Street Ranter of CA 2:08AM January 20, 2012

Larry Summers may be nominated by the US, but from now on the US' nominee is no longer guaranteed to be appointed by the World Bank's Board to the post of World Bank President. Hans Nichols' statement, "Under an unwritten agreement, the head of the World Bank has always been an American, while the IMF has always been headed by a European. Some emerging market leaders have questioned dividing the roles based on nationality in recent years," is incorrect. The 187 members of the World Bank and IMF and not just the BRICs revoked the 66 year old Gentlemen's Agreement for the US to nominate the President of the World Bank in April, 2010. http://www.imf.org/external/np/cm/2010/042510.htm
I warned the US Treasury in 2007 that Robert Zoellick's lawlessness would end the Gentlemen's Agreement. On April 17, 2008 Senators Lugar, Bayh and Leahy requested GAO to investigate "internal resistance to increased transparency and accountability at the World Bank." http://citizenoversight.com/pdf/blwb.pdf In March 2009 GAO stated that it could not commence the inquiry "because of challenges we recently faced in gaining access to World Bank officials." (see p. 24) http://www.foreign.senate.gov/imo/media/doc/55285.pdf
Bloomberg refused to cover Senator Lugar's question about the delay in the GAO review during hearings on the IBRD capital increase http://www.foreign.senate.gov/hearings/banking-on-reform-capital-increase-proposals-from-the-multilateral-development-banks Instead, the US' loses further credibility as a law-abiding nation while Bloomberg misinforms the American public.

Karen Hudes of MD 2:14PM January 19, 2012

Are you kidding? Like this is something new? Virtually every appointed position in washington is taken by a former lobbyist or special interest group. How about reporting those?

Kenneth Payne of TX 2:09PM January 19, 2012