The World Bank and many other Non profit organisations are distributors of tax money to gangsters in third world countries who steal hundreds of billions from the red cross to you name it. I forgot the statistics to be honest as it is in the Pennies of every Dollar ( around 10cent) donated who really reach the purpose. Its outrages that nothing is done about it and the pirates from Somalia are at least so honest to be what they are but there are much bigger thieves around. This pirates are a nice distraction from reality as the real problems are officials sitting in governments and administrations stealing billions from their own people and the worst thing Obama knows about them as well but tolerates it as did all other Presidents before him. The noise is always made about the tiny issues to distract people. I am not defending what pirates do but if effort has to be made there are much more important things to be addressed. That's how rotten this planet have become.
Report Faults World Bank's Anti-Fraud Methods
By BOB DAVIS
WASHINGTON -- The World Bank's fraud-detection procedures in its main aid program to poor countries were labeled a "material weakness" in an internal report, adding to the bank's woes in handling corruption issues.
The bank's Independent Evaluation Group gave it the lowest possible rating for fraud-detection procedures in the $40 billion aid program, called the International Development Association. That could hurt contributions to the effort, which gives grants and interest-free loans to the world's 78 poorest countries.
I really wonder why Obama has so many rotten people in his administration , so many webed into corruption, lobbyist money or lets frankly say greed seeking for money they do not deserve. Change would have been to have the guts to bring in unspoiled smart people and there are such people but he choose to bring the old contaminated gang of the Clintons in. They even do not dare anymore to hide it - nowadays Watergate would be breaking news for 5 minutes but no action taken and forgotten within 24 hours ( they could blame it anyway on the Patriot Act).
I rather am more astonished by the people as no one dares to display his outrage why do the people do not remind Obama of his promises - politicans should not be allowed to get away with lies since that is the benchmark of the society if they do who can expect anything else from Wallstreet or other honorable members of the MBA trained thiefs.
Rattner Named in SEC Probe of NY Kickbacks: Report
Steven Rattner, the leader of the Obama administration's auto task force, was one of the investment-firm executives involved with payments now under scrutiny in a state and federal investigation into an alleged kickback scheme at New York state's pension fund, The Wall Street Journal reported.
A "senior executive" of Rattner's firm, Quadrangle Group, identified in a U.S. Securities and Exchange Commission complaint against two former New York political officials and others, is Rattner himself, the Journal reported, citing a person familiar with the matter.
The "senior executive" met with a politically connected consultant about a finder's fee, then the firm agreed to pay what became a $1.1 million fee after receiving an investment from the state pension fund, the complaint said, according to the Journal report, published online on Thursday.