America First to increase its World Bank contribution?

The Trump administration is poised to back a $13bn capital increase for the World Bank in a package that would see significant lending reforms and an increase in China’s shareholding.

Barring last-minute hiccups, US Treasury secretary Steven Mnuchin is set to tell fellow World Bank shareholders at next week’s spring meetings in Washington that he will support an increase in the bank’s capital, a senior Treasury official confirmed to the Financial Times on Friday. The move would be a significant shift in the US administration’s attitudes towards multilateral institutions.

That is from Shawn Donnan and Sam Fleming at the FT.

Comments

I'm curious if the bankers at the World Bank are sleazy, "Wall Street" types. Based on my limited experience, they probably are. Isn't there already too much finance per GDP in developed countries, and arguably all countries?

Well Dominique Strauss-Kahn was the head of the International Monetary Fund. So some international bankers clearly are sleazy. Maybe only the Socialist ones.

Rumor has it, it is the European Davos-ites who are the most noted for sexual harassment. The Wall Street types are, allegedly, much more puritanical. I do not know. But I note that three members of the Swedish Academy have just resigned over some murky wrong doing that seems to involve the harassment and/or rape of 18 or so women.

So it seems the Left keeps punching itself in the face.

The world bank is sleazy and we should not be sending them any taxpayers money.

"I do not know"

Truer words were never spoken.

'something, something, leftists'

The End.

Yeah, I saw that Nobelian harassment by the rich art-loving Scandi-pervert. What struck me was how graphic the harassment was, which sounded very realistic. By contrast, "American-style" sexual harassment is much more tame, and innocent, along the lines of "he asked me to join him in the shower" or "touched my bum" rather than what went down at the Swedish Academy (namely, to sugar-coat it, a woman agreed to have normal sex with the perverted rich guy and he started then forcing himself on her, against her will, with some graphic stuff best left to another site to publish).

Crony capitalism?

Capital cronyism

We're joining the TPP again, haven't you heard?

Now, about how the dotard got his maid knocked up. That's what im talkin about!

Lol, good one. I hope the TTP partners carry though their threat to shun the USA if the US tries to re-enter TTP, but I doubt they have the balls to back their talk.

Joining the TPP would have been the best way for the US to counter the influence of China in SE Asia. Myanmar, Vietnam, Cambodia etc are now further from the US orbit than they have been in decades.

Actually that is not true. The TTP would have meant a globalist rules-based approach to trade. So the US could not cut anyone in ASEAN a special deal. You cannot reward your friends and punish your enemies so there is no point to being the friend of the US.

The Chinese do not have this problem as they have just massively bribed some members - Laos and Cambodia in particular. Perhaps Duterte as well.

Also China's build up is alienating a lot of people in South-East Asia. Which means they are looking to the US. Vietnam in particular is drifting back towards the US. For the first time since the end of the Vietnam War, a US aircraft carrier was in Vietnam last month.

Victorian gentleman that he was, Karl Marx had a maid...and got her knocked up.

Dominique Strauss-Kahn tried to emulate his master in this.

Mnuchin "will support an increase in the bank’s capital". Support? Is that like Mr. Cohen "facilitating" the payment to the porn star?

The question circling around the drain would be "What is the leverage standard connected with the WB's capital balance?" In other words, if the "owners" add $12 billion in capital would that "support" say ten-times or say 40-times that amount in asset/loan growth?

It don't mean nothing. It's rich-country mandarins making loans to poor-country mandarins. Money for everyone, except people.

What? No wailing and gnashing of teeth over TRUMP!!! bombing Syria?

FYI - Just arrived in the mail my "Asshole" Merit Badge.

I'm feverishly working on my Flaming A. . . Badge.

Well, now that this well known blog brings attention to this, the nativists that support the administration will pitch a fit. The likely effect is that we will actually reduce our funding. Way to go Tyler!

"Neoliberalism by surprise" as they call it in Latin American politics.

More and more, we are seeing why the stock market rallied on election day

That was mostly due to a transfer from future taxpayers to today's billionaires.

I am sure Trump is not even aware of this.

Outside of trade policy (where he has Ross, Lighthizer, and Navarro) it's clear Trump is not capable of controlling the US government. The permanent class of parasites is fully in charge, and Trump's narcissism means he doesn't understand what he's up against.

Even worse, he's stirred up a hornets nest. The enemy is fully aware of our existence now and is determined to destroy us. The enemy is very powerful and very evil, though fortunately not all that smart (talented and energetic, however).

Time to stop being passive and waiting for a hero.

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