May 24, 2013
In one of the most significant interviews on International Finance and Banking, Karen Hudes, Former World Bank Attorney, talks about her experience working for the World Bank. Her actions to report on corruption at the World Bank led to her termination in 2007. Since then, she has been trying to get her story out to the public.
During the World Bank and IMF Annual Meetings last October, with her encouragement, the Development Committee informed President Jim Yong Kim of the need for “a more open, transparent and accountable World Bank Group.” The reasons that motivated that request included the following series of disturbing developments:
The World Bank has disregarded the Joint Economic Committee’s 2005 inquiry into the World Bank’s “corporate governance irregularities” and “accounting problems”;
The World Bank has failed to follow the Joint Economic Committee’s advice that professional financial and accounting employees be given independent access to the World Bank’s Board and its Audit Committee;
The World Bank has failed to protect Hudes against retaliation for challenges of illegality or other misconduct through external arbitration pursuant to the 2005 Lugar-Leahy amendment, which could threaten its mission;
The World Bank has stonewalled Senator Lugar’s and Congressman Van Hollen’s four requests for the advice of the executive search firm following Hudes’ disclosure of internal control lapses;
The World Bank has refused to comply with the Government Accountability Office inquiry into corruption requested by Senators Lugar, Leahy and Bayh for more than three years;
Congress has reiterated its request for the GAO inquiry during hearings on the World Bank capital increase, with which it has yet to comply; and,
Treasury Secretary Timothy Geithner misrepresented progress on World Bank reform in his 11/21/12 report to the Appropriations Committees pursuant to § 7082 of the Consolidated Appropriations Act of 2012.
During her research of The World Bank, she discovered that there are 43,000 Trans-National Corporations that control nearly everything and that these corporations are merged together into Conglomerate – a Super Entity. This fact translates into the recent LIBOR Scandal.
Confirming what one sees in the world in terms of a coordinated plan to control all finance, Karen explains that this Super Entity controls 40% of the Net Worth of Publically Traded Corporations and 60% of the Net Earnings on the Capital Markets through their Interlocking Directorships.
Also, as many in the Alternative Media have known for years, there exists a Mainstream Media Cover–Up of most criminality and corruption, including the 9/11 WTC Terrorist Attack on September 11, 2001, the Benghazi 9/11 Assassination of Ambassador Stevens, the Death of Seal Team 6 in retaliation for their knowledge of the Fake Bin Laden Killing, the Boston Marathon Bombing False-Flag and other recent events including the IRS Scandal that is unfolding now.
Whistleblower Karen Hudes [Pt.1] Corruption / World Bank Exposed
Published on May 24, 2013 – 158 views on May 24, 2013 @ 4:00pm
Whistleblower Karen Hudes [Pt.1]
Excerpting from the same article by Karen Hudes (with Jim Fetzer) The World Bank: Rejecting “The Rule of Law” adds more details to this emerging story:
Where things stand
Dr. Jim Yong Kim, President of the World Bank, has refused to tackle the corruption. He has even had me locked out of the World Bank’s headquarters. On March 19, 2013, I reported to the World Bank, informing Allied Barton’s security personnel that I was duly reinstated by the shareholders of the World Bank. Allied Barton illegally denied me a security badge. An Allied Barton officer raised his voice to me.
The World Bank, under Dr. Kim’s presidency, called the DC police on a legal officer of the World Bank whose reinstatement was necessary in order to qualify for the US contribution to the World Bank’s capital increase. Notwithstanding that the World Bank refused to confirm any request to the police in writing in an attempt to evade accountability, I left the premises at the request of the DC police. However, I did report to the 2nd District Precinct that the DC police had been derelict in their duties.
Republicans and Democrats in Congress have tried to expose the corruption to the American public by calling for an inquiry by the Government Accountability Office. Congress has attempted to fight the corruption by refusing to disburse the World Bank capital increase until there is substantial progress in eliminating the effects of retaliation against whistleblowers who disclosed illegality and corruption. The UK and EU Parliaments have also published testimony and held hearings on the corruption.
The World Bank has attempted to intimidate the World Bank’s Board members, which violates federal, state, and international securities laws. Fortunately, a team of whistleblowers disclosed this corruption and lawlessness to state governors, attorneys general, and chief justices of state supreme courts. State authorities, together with NATO and other allies, are attempting to prevent this corruption from lowering the US credit rating and causing a currency war between nations.
The situation in Cyprus appears to be growing increasingly more serious. The prospects for the World Bank itself are also increasingly in jeopardy, where Brazil, Russia, India, China and South Africa (the BRICS nations) are planning to create their own alternative World Bank. These consequences might well have been avoided had President Kim adhered to the principles of the rule of law, reinstated me and implemented appropriate accounting procedures. That he has done none of these, alas, remains a cause of grave concern, where his past performance in relation to JFK is anything but reassuring.
The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to poor countries. It is the largest and most famous development bank in the world and is an observer at the United Nations Development Group. The bank is based in Washington, D.C. and provided around $30 billion in loans and assistance to “developing” and transition countries in 2012. The bank’s mission is to reduce poverty.
Paul Dundes Wolfowitz (born December 22, 1943) is a former United States Ambassador to Indonesia, U.S. Deputy Secretary of Defense, President of the World Bank, and former dean of the Paul H. Nitze School of Advanced International Studies at Johns Hopkins University. He is currently a visiting scholar at the American Enterprise Institute, working on issues of international economic development, Africa and public-private partnerships, and chairman of the US-Taiwan Business Council.
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