World Bank Corruption May Top $100 Bln

WASHINGTON (Reuters) - Corrupt use of World Bank funds may exceed $100 billion and while the institution has moved to combat the problem, more must be done, the chairman of the U.S. Senate Foreign Relations Committee said on Thursday.

Sen. Richard Lugar, an Indiana Republican, charged that "in its starkest terms, corruption has cost the lives of uncounted individuals contending with poverty and disease."

He commended World Bank President James Wolfensohn for bringing greater attention to the issue, but said, "Corruption remains a serious problem."

snip

He cited experts who calculated that between $26 billion and $130 billion of the money lent by the World Bank for development projects since 1946 has been misused. In 2003, the bank distributed $18.5 billion in developing countries.

http://story.news.yahoo.com/news?tmpl=story&u=/nm/20040513/ts_nm/economy_worldbank_probe_dc

The real corruption is the structural adjustments the Bank and IMF impose on the recipient countries that force them to slash social safetynets.

which bankrolled Hitler starting in 1932-3.

In case anyone was curious WHY the bank is so shotthrough with corruption.

This may not be the BEST source but it covers the basics of the schroder and rockefeller connection to Hitler which also is tied to Bechtel:


http://www.whale.to/b/m_ch7.html

http://www.globalpolicy.org/socecon/bwi-wto/wolfsohn.htm

Architect of the modern CIA Allen Dulles was also a board member of the schroder bank DURING the Holocaust

Not content with having a friend in the White House (Hoover), J. Henry Schroder Corporation was soon embarked on further international adventures, nothing less than a plan to set up World War II. This was to be done by providing, at a crucial juncture, the financing for Adolf Hitler’s assumption of power in Germany. Although any number of magnates have been given credit for the financing of Hitler, including Fritz Thyssen, Henry Ford, and J.P. Morgan, they, as well as others, did provide millions of dollars for his political campaigns during the 1920s, just as they did for others who also had a chance of winning, but who disappeared and were never heard from again. In December of 1932, it seemed inevitable to many observers of the German scene that Hitler was also ready for a toboggan slide into oblivion. Despite the fact that he had done well in national campaigns, he had spent all the money from his usual sources and now faced heavy debts. In his book Aggression, Otto Lehmann-Russbeldt tells us that "Hitler was invited to a meeting at the Schroder Bank in Berlin on January 4, 1933. The leading industrialists and bankers of Germany tided Hitler over his financial difficulties and enabled him to meet the enormous debt he had incurred in connection with the maintenance of his private army. In return, he promised to break the power of the trade unions. On May 2, 1933, he fulfilled his promise."64

Present at the January 4, 1933 meeting were the Dulles brothers, John Foster Dulles and Allen W. Dulles of the New York law firm, Sullivan and Cromwell, which represented the Schroder Bank. The Dulles brothers often turned up at important meetings. They had represented the United States at the Paris Peace Conference (1919); John Foster Dulles would die in harness as Eisenhower’s Secretary of State, while Allen Dulles headed the Central Intelligence Agency for many years. Their apologists have seldom attempted to defend the Dulles brothers appearance at the meeting which installed Hitler as the Chancellor of Germany, preferring to pretend that it never happened. Obliquely, one biographer Leonard Mosley, bypasses it in Dulles when he states,

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"Both brothers had spent large amounts of time in Germany, where Sullivan and Cromwell had considerable interest during the early 1930’s, having represented several provincial governments, some large industrial combines, a number of big American companies with interests in the Reich, and some rich individuals."65

Allen Dulles later became a director of J. Henry Schroder Company. Neither he nor J. Henry Schroder were to be suspected of being pro-Nazi or pro-Hitler; the inescapable fact was that if Hitler did not become Chancellor of Germany, there was little likelihood of getting a Second World War going, the war which would double their profits

thread:

http://www.democraticunderground.com/cgi-bin/duforum/duboard.cgi?az=show_thread&om=11956&forum=DCForumID61&archive=

Just saw this news story..don't have time to check it all out but I thought I'd post it here for you since you might be interested in this one

Like other United Nations agencies, World Bank rules prevent staff from testifying in public ......How convenient.

"The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight-of-hand that was ever invented. Banking was conceived in iniquity, and was born in sin. The Bankers own the Earth. Take it away from them, but leave them the power to create deposits and with the flick of the pen, they will create enough deposits to buy it back again.
However, take it away from them, and all the great fortunes like mine will disappear, and they ought to disappear, for this would be a happier and better world to live in. But if you wish to remain the slaves of Bankers, and pay the cost of your own slavery, let them continue to create deposits."

- Sir Josiah Stamp, President of The Bank of England, at the University of Texas, 1920

and Mr. Lugar knows it, and these promises to do better
are just the latest in a long line of lies intended to
defuse criticism. The corruption is not merely out there
in undeveloped lands, it originates in and and is fomented
by the economic colonialists in the developed countries.