CERDAFIED-In today’s world, just the word ‘banker’ conjures up the image of a sleazy used car dealer, or an elitist who would squeeze the last dime out of a dying countries hand. I think the latter image is more accurate. You wouldn’t expect to find someone of character to emerge from their ranks, but she did.
Karen Hudes, (photo) whistleblower extraordinaire, studied economics at the University of Amsterdam and law at Yale Law School. She worked for the World Bank from 1986-2007 until a series of events transpired that forced to her to take ethical action.
The US was about to lose its right to appoint the President of the World Bank, in 2007. Hudes informed the US Treasury Department and US Congress that the 66 year old Gentlemen’s Agreement that allowed Europe to appoint the Managing Director of the IMF and the US to appoint the World Bank President would end in 2010.
Hudes spilled the beans on a corrupt take-over of the second largest bank in the Philippines. (Read the rest … including what it was that Hudes discovered … here)
-cw
CityWatch
Vol 12 Issue 36
Pub: May 2, 2014
