Failure to Tell Voters of Corruption Lowers the US Credit Rating

WASHINGTON, Oct. 25, 2012 /PRNewswire-iReach/ -- In the final debate for the US presidency, Bob Schieffer did not ask Mitt Romney or Barack Obama what they intend to do to fight international corruption. http://www.politico.com/blogs/media/2012/10/schieffer-this-is-their-campaign-139308.html

The Federal Reserve Board's cover-up of this corruption caused a lowering of the US credit rating.  http://www.huffingtonpost.com/social/Karen_Hudes/the-dramatic-arc-of-the-2_b_1992626_198432919.html  The credit rating agencies are poised for a further downgrade in the US credit rating because voters are uninformed on this cover-up of corruption. http://www.huffingtonpost.com/social/Karen_Hudes/blaming-federal-reserve_n_1974980_199122728.html

Mitt Romney appointed Robert Zoellick as his national security transition planning chief. Mr. Zoellick stonewalled a GAO investigation http://citizenoversight.com/pdf/blwb.pdf into corruption at the World Bank requested by Senators Lugar, Leahy and Bayh.  Paul Volcker's investigation into this corruption was discredited http://www.commondreams.org/newswire/2010/04/06-3  With corruption at the World Bank, the United States lost the 66 year old Gentlemen's Agreement for the US to appoint the president of the World Bank.  Washington embassies wonder why the press does not inform US voters of this corruption. http://www.imf.org/external/np/cm/2010/042510.htm

The World Bank's Audit Committee appointed KPMG to audit the World Bank's internal control over financial reporting. When KPMG did not follow Generally Accepted Audit Principles and Standards, the UK's Serious Fraud Office called the US Securities and Exchange Commission. Congress is requiring the World Bank to make significant progress in protecting its whistleblowers before funds for the World Bank's capital increase are disbursed under Section 7082 of the Consolidated Appropriations Act of 2012, signed into law on December 23, 2011. The National Taxpayer's Union has a petition about this corruption: http://www.change.org/petitions/tell-treasury-protect-whistleblowers-at-u-s-taxpayer-funded-international-banks

The European Parliament disclosed this corruption on May 25, 2011: http://www.europarl.europa.eu/document/activities/cont/201105/20110518ATT19540/20110518ATT19540EN.pdf

The UK Parliament disclosed this corruption on July 9, 2012: http://www.publications.parliament.uk/pa/cm201213/cmselect/cmintdev/writev/402/contents.htm 

The UK's Financial Reporting Council is investigating KPMG's failure to follow auditing standards. The UK replaced Andrew Mitchell as Secretary of International Development on September 4, 2012.

See Karen Hudes' comment in Forbes (hit expand all comments twice): http://www.forbes.com/sites/richardbehar/2012/06/27/world-bank-spins-out-of-control-corruption-dysfunction-await-new-president/

www.kahudes.net

Media Contact: Karen Hudes Law Offices of Karen Hudes, 3012290058, karenhudes@hotmail.com

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SOURCE Law Offices of Karen Hudes



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