|"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 Iran-Contra,
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 Adnan Khashoggi.
to Martinsburg, Virginia to meet with some sources to get the final piece of
the puzzle and "bring back the head of the Octopus."
Two days 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
actions that 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 reforms.
was sold as the process that countries needed to undergo in order to save their
economies from the crisis.
For 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 former Wall Street economist Michael Hudson
1980s "Chicago 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
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 in action:
let it go, do nothing.
By not lifting a finger to help, all the men
charged with Russian policy - from
Dick Cheney, as defense
secretary to George Bush , to
Larry Summers, Treasury
undersecretary, to Stanley Fischer at the International Monetary Fund - were
indeed doing something: they were practicing pure
Chicago School ideology, letting
the market do its worst.
Russia 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."
The "Oligarchs" gain control of the Russian economy
as industries are sold off for a fraction of their value.
Nickle, fifth largest producer of nickle in the world, is sold for $170 million
- profits reach 1.5 billion annually by 2006.
Yokos, which controls more
oil than Kuwait, is sold for $309 million.
A 51% stake in Sidanko, worth
$2.8 billion in 2007 is sold for $130 million.
huge weapons factory is sold for $3
Harvard ends up paying a settlement of $26.5 million, Andrei
Scleifer agrees to pay $2 million, Jonathan Hay agrees to pay $1 million after
a seven year court battle found that Harvard had breached its contract with the
US as Andrei Scleifer, Jonathan Hay and Hay's wife each had personally profited
from their "economic design."
Boris Yeltsin is
Vekselberg*, whose wealth originates in the privatization of the Soviet
aluminum industry, becomes co-owner and chairman of
1998 "Like most of Russia's nouveau riche, Goussinsky, a
45-year-old former theatrical director, made his money quickly and
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.
Experts credit 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
[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
World Bank 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.
subsidies, the private operator fails to improve basic water delivery in
A 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.
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.
Dundes Wolfowitz, a former steering committee member of the Bilderberg
group, ascends to World Bank CEO.
Wolfowitz resigns on May 17.
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