Full Version: How to Dismantle a...Bank?
Just when you think you’ve heard it all.
(Would he have to go by his real name if selected?
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From what I have been able to find, the post generally goes to an American, but Bono is greatly admired, and so on and so forth. OK, so does Bono have the economic chops to head the World Bank? A Harvard economics professor and the US Treasury Secretary seem to think so. I found this on Oprah’s site (of all places):
Is Bono a good choice to head the World Bank? Why or why not?
QUOTE
Irish rock star Bono (Paul Hewson) is one of several people who have been nominated for the president of the World Bank. Zaman
(Would he have to go by his real name if selected?
)From what I have been able to find, the post generally goes to an American, but Bono is greatly admired, and so on and so forth. OK, so does Bono have the economic chops to head the World Bank? A Harvard economics professor and the US Treasury Secretary seem to think so. I found this on Oprah’s site (of all places):
QUOTE
“I think that politicians are attracted at first by the celebrity," says Harvard economics professor Jeffrey Sachs, "but once they meet him, they find that he is outstandingly capable." Along with producer Bobby Shriver, Sachs became part of Bono's American kitchen cabinet in 1999 in the quest to get debt relief on the agenda. In his Class Day address at Harvard in June, Bono summed up the trio: "Sachs and I, with Bobby Shriver, hit the road like some kind of surreal crossover act. A Rock Star, a Kennedy and a Noted Economist crisscrossing the globe like the Partridge family on psychotropic drugs." Oprah
Whew! Sounds like something out of a Hunter S. Thompson novel. QUOTE
U.S. Treasury Secretary John Snow yesterday would not rule out the idea of Irish singer Bono…
<snip>
"He's somebody I admire. He does a lot of good in this world of economic development," Mr. Snow said. "Most people know him as a rock star. He's in a way a rock star of the development world, too. He understands the give and take of development. He's a very pragmatic, effective and idealistic person." Globe and Mail
<snip>
"He's somebody I admire. He does a lot of good in this world of economic development," Mr. Snow said. "Most people know him as a rock star. He's in a way a rock star of the development world, too. He understands the give and take of development. He's a very pragmatic, effective and idealistic person." Globe and Mail
QUOTE
The World Bank Group’s mission is to fight poverty and improve the living standards of people in the developing world. It is a development Bank which provides loans, policy advice, technical assistance and knowledge sharing services to low and middle income countries to reduce poverty. The Bank promotes growth to create jobs and to empower poor people to take advantage of these opportunities… World Bank Mission
Is Bono a good choice to head the World Bank? Why or why not?
Is Bono a good choice to head the World Bank? Why or why not?
Bono has a pretty outstanding track record when it comes to social activism and particularly the cause of third world poverty and debt. He is so passionate about it in fact, that a lot of people have tired of him going on about it. You can find a lot of information about this out there, but without spending too much time on it here is an excerpt from his bio:
Probably the greatest indicator of his financial ability is the mere fact that he has been a highly successful rock star since the 80's and he isn't broke today.
It is interesting to see his name being floated as a possibility when I just read a few days ago that the ex-CEO of HP, Carly Fiorina looked like the shoe-in choice - article.
Hmmm, I wonder what would lead them to believe that Fiorina can fill that role. First of all she botched one of the largest mergers the computing industry has seen and that is in large part why the board of directors let her go this past February. That doesn't speak highly of her management skills. As far as marketing goes, I'm not sure why anyone would be under the impression that HP has good marketing, their peers Apple and Dell are far better and more effective in that department.
I don't know who else is being considered, but given these two choices I hope for all our best interests that Bono gets the job.
Bono has a pretty outstanding track record when it comes to social activism and particularly the cause of third world poverty and debt. He is so passionate about it in fact, that a lot of people have tired of him going on about it. You can find a lot of information about this out there, but without spending too much time on it here is an excerpt from his bio:
QUOTE
Beyond U2, Bono has extended himself to other projects and causes, and has emerged over the years to be both a social animal and an activist...and has rallied numerous actors, artists and activists to his cause...most recently, his bid to end Third World Debt as spokesman for the Jubilee 2000 project and Netaid. Bono was recently presented with the Free Your Mind Award at the MTV Europe Awards held in Dublin, Ireland, in acknowledgement for his work on behalf of the Jubilee 2000 project to end Third World Debt. After receiving the award from Rolling Stones lead singer Mick Jagger, the clearly-humbled singer humorously remarked: "This is only going to make me worse."
Probably the greatest indicator of his financial ability is the mere fact that he has been a highly successful rock star since the 80's and he isn't broke today.
It is interesting to see his name being floated as a possibility when I just read a few days ago that the ex-CEO of HP, Carly Fiorina looked like the shoe-in choice - article.
QUOTE
"The bank isn't short on people with development experience. It is short on people who have good marketing skills, who can sell the bank and change the perception of the institution," the official said.
Hmmm, I wonder what would lead them to believe that Fiorina can fill that role. First of all she botched one of the largest mergers the computing industry has seen and that is in large part why the board of directors let her go this past February. That doesn't speak highly of her management skills. As far as marketing goes, I'm not sure why anyone would be under the impression that HP has good marketing, their peers Apple and Dell are far better and more effective in that department.
I don't know who else is being considered, but given these two choices I hope for all our best interests that Bono gets the job.
Is Bono a good choice to head the World Bank? Why or why not?
It's hard to tell, not knowing the guy except for what the media presents. I'll agree that he has a lot of passion, and that is necessary to do any job well -- one has to believe in the mission, as opposed to someone who sees the job as just a stepping stone into the real thing. Or as just a job to make bucks.
I'll also agree that surviving rock stardom while maintaining economic solvency, emotional sanity, and high ideals is remarkable.
It's unfortunate how the mergers of DEC into Compaq into HP have hurt the computing industry, so I'll go thumbs down on Fiorina. She might be throwing her hat in the ring out of guilt.
My vote goes to the guy with a long and passionate history of doing the right things.
It's hard to tell, not knowing the guy except for what the media presents. I'll agree that he has a lot of passion, and that is necessary to do any job well -- one has to believe in the mission, as opposed to someone who sees the job as just a stepping stone into the real thing. Or as just a job to make bucks.
I'll also agree that surviving rock stardom while maintaining economic solvency, emotional sanity, and high ideals is remarkable.
It's unfortunate how the mergers of DEC into Compaq into HP have hurt the computing industry, so I'll go thumbs down on Fiorina. She might be throwing her hat in the ring out of guilt.
My vote goes to the guy with a long and passionate history of doing the right things.
Is Bono a good choice to head the World Bank? Why or why not?
This is, if nothing else, intriguing. I'm not really sure quite what the job description is for this position and how well Bono would fit that description. If it requires an extensive banking or accounting background, he might not be a good choice. However, if it is more of a policy role where the head of the World Bank is responsible for carrying out the mission statement quoted by DaffyGrl, then I think Bono would be an excellent choice for it.
By his actions Bono has most certainly shown a passionate committment to these goals.
This is, if nothing else, intriguing. I'm not really sure quite what the job description is for this position and how well Bono would fit that description. If it requires an extensive banking or accounting background, he might not be a good choice. However, if it is more of a policy role where the head of the World Bank is responsible for carrying out the mission statement quoted by DaffyGrl, then I think Bono would be an excellent choice for it.
QUOTE
The World Bank Group’s mission is to fight poverty and improve the living standards of people in the developing world. It is a development Bank which provides loans, policy advice, technical assistance and knowledge sharing services to low and middle income countries to reduce poverty. The Bank promotes growth to create jobs and to empower poor people to take advantage of these opportunities
By his actions Bono has most certainly shown a passionate committment to these goals.
Omigosh. I don't have time to research right now, but I heard on the radio this morning that Bush has nominated Paul Wolfowitz to head the World Bank. EEK! What a disturbing development (IMO). The architect of war to head an organization dedicated to helping developing countries? 
I can't imagine a worst choice.
What does everyone think about this?
OK, so I can't help myself...
I can't imagine a worst choice.What does everyone think about this?
OK, so I can't help myself...
QUOTE
In addition to Wolfowitz's strong support for the Iraq war, Steve Radelet, a senior fellow at the Center for Global Development and a former undersecretary at the Treasury, said last week the Europeans were nervous that Wolfowitz would prove similar to former World Bank head and Former Secretary of Defense Robert McNamara.
Radelet said McNamara was accused of channeling aid to nations based not on need but on their support of U.S. policy. CNN
Radelet said McNamara was accused of channeling aid to nations based not on need but on their support of U.S. policy. CNN
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