Who is world bank's current president?

New financial world order - Europe got everything it wanted?

• http://www.msnbc.msn.com/id/27742573/ The Europeans got "virtually everything" they sought at the summit, French President Nicholas Sarkozy crowed afterward at a news conference. He said it had been difficult to persuade Bush to hold the summit, but the results were worth it. "America is still the No. 1 power in the world," he noted. "Is it the only one? No, it isn't." The leaders, representing the Group of 20 economic powers, Spain, the Netherlands, the United Nations and other international organizations, met over dinner at the White House on Friday. They then continued their discussions Saturday arrayed in a square in the central hall of the 19th-century National Building Museum, beneath soaring 159-foot high ceilings. "We are determined to enhance our cooperation and work together to restore global growth and achieve needed reforms in the world's financial systems," the leaders declared in their communique. The leaders agreed to set up a new regulatory body, "a college of supervisors," to examine the books of major financial institutions that operate across national borders, so regulators could begin to have a more complete picture of banks' operations. They demanded greater scrutiny of hedge funds and the completion of a clearinghouse system to help standardize and limit risk on some of the opaque and exotic financial derivatives that helped bring down Wall Street's investment banks. Leaders also agreed to submit their countries' financial systems to regular, vigorous reviews by the International Monetary Fund — assessments that some countries, including the United States, had long resisted. And they urged new constraints on the pay schemes at financial firms that "reward excessive short-term returns or risk-taking." Sarkozy was especially pleased by the mention of executive compensation, though the communique noted that action could be voluntary or regulatory in nature. "Have you ever seen in the Anglo-Saxon world even discussion to have rating agencies downgrade the banks where executive compensation has [encouraged] them to take too much risk? I have never seen it," he said. Senior Bush administration officials played down Sarkozy's comments, arguing that the agreement yesterday did not signify a "pro-regulatory" shift by the administration but rather an acknowledgement that the regulatory system needed to be updated. They spoke on condition of anonymity under ground rules set by the White House. Obama stayed away from the summit, though the White House extensively briefed one of his senior advisers on the deliberations and two of the president-elect's representatives met with 17 leaders or their top aides on the sidelines. Many sections in the communique may please Obama, but at least one pledge to which Bush agreed — a 12-month hiatus on protectionist measures — could be viewed as limiting his options.

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  As another answerer mentioned, there is no constitutional authority for oversight from foreign interests. http://www.youtube.com/watch?v=sOZIGPUPQVc YouTube question: Good evening, candidates. This is (inaudible) from Arlington, Texas, and this question is for Ron Paul. I've met a lot of your supporters online, but I've noticed that a good number of them seem to buy into this conspiracy theory regarding the Council of Foreign Relations, and some plan to make a North American union by merging the United States with Canada and Mexico. These supporters of yours seem to think that you also believe in this theory. So my question to you is: Do you really believe in all this, or are people just putting words in your mouth? Cooper: Congressman Paul, 90 seconds. Paul: Well, it all depends on what you mean by "all of this." the CFR exists, the Trilateral Commission exists. And it's a, quote, "conspiracy of ideas." This is an ideological battle. Some people believe in globalism. Others of us believe in national sovereignty. And there is a move on toward a North American Union, just like early on there was a move on for a European Union, and eventually ended up. So we had NAFTA and moving toward a NAFTA highway. These are real things. It's not somebody made these up. It's not a conspiracy. They don't talk about it, and they might not admit about it, but there's been money spent on it. There was legislation passed in the Texas legislature unanimously to put a halt on it. They're planning on millions of acres taken by eminent domain for an international highway from Mexico to Canada, which is going to make the immigration problem that much worse. So it's not so much a secretive conspiracy, it's a contest between ideologies, whether we believe in our institutions here, our national sovereignty, our Constitution, or are we going to further move into the direction of international government, more U.N. You know, this country goes to war under U.N. resolutions. I don't like big government in Washington, so I don't like this trend toward international government. We have a WTO that wants to control our drug industry, our nutritional products. So, I'm against all that. But it's not so much as a sinister conspiracy. It's just knowledge is out there. If we look for it, you'll realize that our national sovereignty is under threat.