|"Journalist Danny Casolaro
had been investigating an international crime syndicate he termed the "Octopus" at the time of his
death in 1991.
Casolaro believed that this "Octopus" involved powerful
individuals in the private and public sectors as well as the criminal
underworld and that they were collectively responsible for some of the biggest
scandals of the 1980s, including
BCCI and the
theft of the PROMIS
Casolaro had told friends and family that he was close to
concluding his investigation and several people close to him had seen documents
involving money transfers involving BCCI and the World Bank to people involved
in these scandals, such as Earl Brian and
Casolaro went to Martinsburg,
Virginia to meet with some sources to get the final piece of the puzzle and
"bring back the head of the Octopus."
after arriving in Martinsburg, Casolaro was found dead in his hotel room and
his briefcase full of his research notes and evidence was missing. His death
was ruled a suicide." - Whitney Webb
The Danny Casolaro Primer: 13 reasons to doubt the official
"We act as a potent deterrent against government
may adversely affect investments."- World Bank website
"The must be given
credit for having invented and successfully marketed the concept of 'structural
adjustment,' a concept that packaged together microeconomic and macroeconomic
Structural adjustment was sold as the process that countries
needed to undergo in order to save their economies from the crisis.
governments that bought into the package, the distinction between sound
macroeconomic policies that maintain external balance and stable prices, on the
one hand, and
policies that determine openness [like
free trade], on the other, was
obfuscated." - Dani Rodrik, Harvard economist
"The World Bank is increasing financing of fossil-fuel projects
One example is the coal-powered Tata Ultra Mega power plant
in western India, a $4.14 billion project scheduled to go online in 2012.
When it is fully operational, it will become one of the world's 50
largest greenhouse-gas emitters and "will emit more carbon dioxide annually
than the nation of Tunisia," according to the US Department of Energy.
The World Bank will provide "$450 million in loans and guarantees for
the project and also may buy a $50 million stake in it." - Pittsburgh
Tribune-Review, August 24, 2008
"The World Bank is simply not
slowing down its significant funding to fossil-fuel projects that will emit
greenhouse gases for 20 to 40 years." - Heike
International Monetary Fund and the
World Bank are devised at the United Nations Monetary and Financial Conference
in Bretton Woods.
1960s "My job on Wall
Street was to be balance and payments economist for
Chase Manhattan in the 1960s.
first job there was to calculate how much debt could third world countries pay,
and the answer was 'Well, how much do they earn?'
And whatever they
earned, that's what they could afford to pay in interest.
objective was to take the entire earnings of a third world country and say
'Ideally, that would be all paid as interest to us.' " - University of Missouri
economic historian and Wall Street economist Michael Hudson
1968 Robert Strange McNamara resigns as Secretary of Defense
to become President of the World Bank.
"Robert McNamara shaped the Bank as no one before him.
He came brimming
with energy, forceful, active, pushing to get things done."
McNamara Nairobi Speech 1973
During his tenure the previous Bank
strictures against lending to public sector banking institutions or enterprises
McNamara did not see private capital as a realistic option
in addressing critical development needs.
Reliance upon government
intervention meant turning a blind eye to coercive practices - the involuntary
collectivization of farmers in Tanzania, for example.
School believers tend to portray the mid-eighties onward as a smooth and
triumphant victory march for their ideology: at the same time that countries
were joining the democratic wave, they had the collective epiphany that free
people and unfettered free markets go hand in hand.
That epiphany was always fictional.
What actually happened is that just as citizens were finally winning
their long-denied freedoms, escaping
the shock of the torture
chambers under the likes of the Philippines'
Ferdinand Marcos and Uruguay's Juan
Maria Bordaberry, they were hit with a perfect storm of financial shocks - debt
shocks, price shocks and currency shocks - created by the increasingly
volatile, deregulated global economy." - Naomi Klein
1991 Gorbachev is placed under house arrest.
Leaders of the coup
declared a state of emergency.
1993 When the
Russian Parliament rejects structural adjustment
Boris Yeltsin unilaterally
dissolved parliament and launched a military assault on Parliament that kills
500 people and injures over a thousand more.
Boris Yeltsin would have become a
successful dictator had the World Bank and International Monetary Fund just
kept its side of the bargain by allowing the structural adjustment to be
implemented over time and had not failed to remit the aid of $15 to $30 billion
that Jeffery Sachs claimed was necessary to secure the Russian state's economic
"While Jeffery Sachs saw the collapse of the Soviet Union as a
liberation from authoritarian rule and was ready to roll up his sleeves and
start helping, his Chicago School colleagues saw it as a freedom of a different
sort - as the final liberation from
Keynesianism and the
do-gooder ideas of men like Jeffrey Sachs.
Seen in that light, the
that so infuriated Jeffery
Sachs when it came to Russia was not "sheer
laziness" but laissez-faire
All the men charged with Russian policy -
George Bush ,
Larry Summers, Stanley Fischer at the
IMF - were indeed doing something: practicing pure
ideology, letting the market do its worst.
Russian bankruptcy was what
Friedian ideology looked like in practice, a foreshadowing of the
get-rich-or-die-trying dystopia that
many of these same players would create a
decade later in Iraq." - Naomi Klein
Boris Yeltsin starts a war in Chechnya.
Harvard economics professor Andrei Scleifer and his deputy Jonathan Hay
help the Russian Oligarchs design the "new economy."
gain control of the Russian economy as industries are sold off for a fraction
of their value.
Norlisk Nickle, fifth largest producer of nickle in the
world, is sold for $170 million - profits reach 1.5 billion annually by
Yokos, which controls more oil than Kuwait, is sold for $309
A 51% stake in Sidanko, worth $2.8 billion in 2007 is sold for
A huge weapons
factory is sold for $3 million.
Harvard ends up settling for $26.5
million for bad economic advice after a seven year court battle finds Harvard
breached its contract: Andrei Scleifer, Jonathan Hay and Hay's wife personally
profited from "economic design."
Yeltsin is re-selected.
Viktor Vekselberg*, whose wealth originates in
the privatization of the Soviet aluminum industry, becomes co-owner and
chairman of Tyumen
1998 "Like most of Russia's nouveau
riche, Goussinsky, a 45-year-old former theatrical director, made his money
quickly and mysteriously.
From a modest start in 1986 with a small
company specializing in metal works, he expanded his holdings to include a bank
and, later, a financial-industrial group called Most.
much of Goussinsky's meteoric financial rise to his close ties with Moscow
Mayor Yuri Luzhkov - and when it appeared possible that Communist Party
candidate Gennadi Zyuganov would defeat Yeltsin in the 1996 presidential
election, Goussinsky and six other key financiers banded together to fund
Yeltsin's victorious re-election campaign.
[Vladimir] Goussinsky is more than just one of Russia's
As the president of the Russian Jewish Congress,
he is the public figurehead of Russian
Jewry and the leading Russian sponsor of Jewish communal projects." -
Jewish News of Greater Phoenix, August 21, 1998
grants Armenia $30 million to
upgrade the water supply in its capital city of Yerevan, provided that it hand
over the public water utility to a transnational corporation.
massive subsidies, the
private operator fails to improve basic water delivery in Yerevan.
parliamentary investigation discovered that through a series of crooked deals
the corporation misappropriated an estimated $35 million from the
Armenian people and amassed over
$50 million in debt.
Today, water flows from the tap only a few hours a
day, and residents live in
fear of outbreaks of water contamination.
The World Bank refuses to
recognize corruption, and instead continues to insist the project - and the
private contractor - surpassed all expectations.
"This case raises
difficult questions about the legitimacy of development projects all over the
world where so-called 'public-private partnerships' are involved, World Bank
complicity in corruption calls water lending into disrepute." - Patti
"I can guarantee again that it is easier for a
camel to go through
the eye of a needle
than for a rich person to enter the
"Only a blitzkrieg approach during the 'window of opportunity' provided by the
'fog of transition' would get the changes made before the population had a
chance to organize to protect its previous vested interests." -
Joseph Stiglitz, chief economist at
the World Bank
A handful of international corporations, led by
Vivendi Universal and Suez, aggressively take
over the management of public water services in countries around the world,
dramatically raising the price of water to local residents.
2000 More than 100,000 people in Kwazulu-Natal province,
South Africa become ill with
cholera after water and sanitation
services to local communities are cut off for nonpayment.
Trade Organization now prohibits the use of export controls for any purpose.
Quotas or bans on the export of water imposed for environmental reasons
will be challenged as a
form of protectionism.
2001 Global water
services industry makes a trillion dollars in profits.
Paul Dundes Wolfowitz, a
former steering committee member of the Bilderberg group, ascends to World Bank
Paul Dundes Wolfowitz
resigns on May 17.
Wolfowitz Resigns, Ending Long Fight at World
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