Time to fight corruption. "If you conduct independent forensic investigation of the amount of Bank loan money that is routinely stolen or wasted by contractors connected with Bank projects in least-developed countries, the Bank's credit rating will tank," foreign policy analyst, Pundita argues.

She proposes Eliot Spitzer, New York State Atorney General and scourge of Wall Street, as the man to clean up the mess.

"Spitzer knows the terrain of Establishment resistance to calls for structural reform," she writes. "He's been there, bought the T-shirt and the DVD. Above all, that is why Eliot Spitzer is the best choice for the next World Bank President. Even if he only took the job for a year, as interim president, humankind would benefit."

Read the whole thing for Pundita's "crash course" on how the development bank loan model works in practice.

David Steven ~ January 17, 2005

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