The World Bank is owned by the investors and controled by the 24 members of it's board. Which all are members of the Skull&Bones Society. Which is not a Government job either.
So where lies the power and athority.
2007-05-11 05:55:23 · 11 answers · asked by ShortBus43 2 in Politics & Government ➔ Politics
Skull and Bones my friend, Skull and Bones.
2007-05-11 05:58:33 · answer #1 · answered by SlickWillie 3 · 2⤊ 2⤋
Eddie J is correct. By tradition, the World Bank is led by an appointee of the US President and the IMF is led by a European. This has been the rule ever since both organizations were created by a conference of the WWII allies in Bretton Woods in 1944.
It's a traditional rule, and isn't actually written in the charter of either organization. But it's been observed consistently for 60 years.
The formal power in the World Bank is held by the Board of Directors. But they act only by consensus, so they don't exercise their official power much. That makes the President, currently Wolfowitz, the most powerful figure. However, as will happen in any organization where acting directors manage career bureaucrats, the bureaucrats over time have gained significant powers.
2007-05-11 13:29:38 · answer #2 · answered by A M Frantz 7 · 0⤊ 0⤋
The President of the World Bank, Paul Wolfowitz, chairs meetings of the Boards of Directors and is responsible for overall management of the bank. By tradition, the bank president is national of and is nominated by the largest shareholder in the bank, the United States. The President is elected by the Board of Governors for a five-year, renewable term.
See source for more info about the structer of the WB.
2007-05-11 13:06:36 · answer #3 · answered by slice39 3 · 0⤊ 0⤋
The President of the World Bank is always an American (that is a rule that has existed since the creation of the World Bank), so he was appointed by the American Government (i.e. Bush).
2007-05-11 13:33:18 · answer #4 · answered by Bryan H 3 · 0⤊ 0⤋
Nothing but the tradition of said bank. Economically the USA was the 800 lb gorilla, but not so much now.
2007-05-11 13:02:28 · answer #5 · answered by rhino9joe 5 · 1⤊ 1⤋
Well, cuz he does, cuz.
See, Binky, it goes like this: By tacit agreement, the Europeans appoint the head of the IMF and we appoint the head of the World Bank.
And that's all there is to it - got it?
BTW, I just read the "answers" preceding this one and all I can say is this: You sure do attract a motley crew of losers, don't you?!?
2007-05-11 13:00:34 · answer #6 · answered by Eddie J 2 · 3⤊ 1⤋
If you knew anything about the World Bank and how it is governed you would withdraw this question
2007-05-11 13:04:52 · answer #7 · answered by Anonymous · 1⤊ 1⤋
Easy one - its the golden rule, those with the gold, make the rules.
May be called the "world bank", where do you think all the $$$$ comes from?
2007-05-11 12:58:44 · answer #8 · answered by John Q Harris 3 · 1⤊ 1⤋
I know, really, I was wondering that myself.
Just how DOES that happen?
great question by the way.
2007-05-11 12:58:36 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Wolfowitz was the architect of the Iraq invasion and occupation.
bush owed him BIG.
2007-05-11 12:59:21 · answer #10 · answered by Anonymous · 1⤊ 3⤋