The Board of Governors of the World Bank, consisting of 188 member countries, ended the Gentlemen’s Agreement for the US to appoint the President of the World Bank in April 2010. Karen Hudes warned US Congress and the US Treasury Department in 2007 that this would happen if the US President of the World Bank continued to break the rules.
US Congress wrote four letters about Karen Hudes’ case to the World Bank, but the World Bank stonewalled
The US Goverment Accountability Office withdrew when the World Bank refused to cooperate. Karen Hudes sued KPMG in US District Court and the US Court of Appeals.
The Media refused to tell the American public that the 66 year old Gentlemen’s Agreement for the US to appoint the World Bank President ended April 25, 2010
The NAC, together with the US Securities and Exchange Commission and the 50 states, regulate the World Bank’s access to US capital market.
The attorneys general in the 50 states regulate World Bank bonds under blue sky laws.
The World Bank financed over $1.6 billion in contracts from US exporters in the last 10 years.
The Staff Association’s Statement of Support said that staff were afraid to report wrongdoing after what happened to Hudes.