Six months after President Obama was sworn in, Tim Geithner is finally getting around to officially appointing his helpers (subject to Senate approval).
The Wall Street Journal reported today that Jeffrey Goldstein will be nominated to be undersecretary for domestic (as opposed to international) finance.
So who is Mr. Goldstein and what does it say about future policy? He currently works for a private equity firm, but before that, he worked at the World Bank as CFO.
The World Bank isn’t a “bank” at all. It makes “loans” to third world countries that it knows have no chance of ever paying the money back, kind of like a global Freddie Mac and Fannie Mae.
Some of its current areas of interest are: Gender Equality, ending Poverty in Africa, Ending Poverty in South Area, Global Climate Change. They work on the conflicts mostly by flying around the world holding conferences, forming study groups and passing resolutions.
Where does the World Bank get the funding to carrying on this critically important projects? Well, one source is the U.S. Agency for International Development, which is part of Hillary Clinton’s US State Department. The World Bank and the International Monetary Fund are sister organizations created as a result of the Bretton Woods conference in 1944 to deal with global finance and reconstruction of post-war Europe as World War Two was winding down.
Sounds like he’ll fit right in.
Tags: Bretton Woods, Geithner, Goldstein, IMF, USAID, World Bank