Well, the American (s)election is officially over, and we're now in whatever shenanigans "they" are going to pull to turn the whole thing into another hanging chad circus (remember that one?). And speaking of shenanigans and circuses, check out this story (shared by reader T.S.) about some more missing money - this time a mere $41,000,000,000 at the World Bank - which, as the article indicates, may have gone missing due to some sloppy "accounting practices":
World Bank 'Misplaces' $41 Billion in Climate Change Funds
But wait...there's more. Note what Oxfam says about the missing money:
The bank gets its funding from contributions made by rich nations. However, a recent decision to divert 45% of its development funds from poverty programs to climate change programs is meant more to assuage the guilt of rich nations than to help the poor climb out of poverty.
About $40 billion a year from the World Bank is now earmarked to fund climate change mitigation efforts. Naturally, with that much loose cash floating around, sticky fingers are busy "misplacing" the money, and isn't that a darn shame?
An investigation by Oxfam of the World Bank's finances shows that anywhere between $24 and $41 billion of "misplaced funds" has gone missing due to "poor record-keeping practices, says Oxfam.
And yes, these funds were likely stolen.
Poster Comment:
World Bank head is appointed by US President. IMF by the EU.