As
Ban's
UN Invites
Doha Bank
Group,
BANKi-moon
Partners with
Citigroup
By
Matthew
Russell Lee
UNITED
NATIONS,
May 14 -- The
UN is
increasingly
turning itself
over to
banks under
Ban Ki-moon,
whom some now
called BANK
Ki-moon. His
high
level event on
the economic
crisis this
week features
the CEO of the
Doha Bank
Group and its
regulator, the
Qatar Central
Bank.
The
recent
meeting
of UNCTAD had
Qatar National
Bank as a
"platinum"
sponsor --
compliance
with
applicable UN
system rules
not clear. But
it starts from
the top:
previously,
BANK Ki-moon
named the
Chairman of
Bank of
America to his
panel on
sustainable
energy,
despite BofA
being
protested by
Occupy
Wall Street
and others as
the number one
funder of
mountain-top
removal coal
mining.
Meanwhile
on May
15 the UN is
promoting an
event on "the
role of
business at
Rio
+ 20,"
featuring the
Board Vice
Chair of
Citigroup,
Samuel De
Piazza.
Citigroup was
one of the
major subprime
lenders which
requires mass
bailouts from
the public, as
was fined $75
million for
predatory
lending by the
US Federal
Reserve Board.
Why is BANK
Ki-moon's UN
partnering
with these
companies?
On
May 11, Inner
City Press
asked the
spokespeople
for the GA and
Ban Ki-moon:
Inner
City
Press: I
wanted to know
whether there
is any
involvement
by, by
private
industry,
particularly
banks. The
downturn was
largely
created by
financial
institutions
unregulated
and flaming
out. I
noticed that
the chairman
of the Bank of
America is on
another panel
of the UN on
sustainable
energy. Butare
they invited
to
participate?
Or is there
any thought of
sort of
weaving in
these private
entities
that otherwise
engage with
the UN on the
issue of
regulation,
subprime
lending and
things that
actually
caused the
crisis?
GA
Spokesperson:
Well, as I
mentioned in
the statement,
top officials
of regional
development
banks are
going to be,
are invited to
attend. So
that answers
your question.
Question:
But those are
sort of a
governmental
type.
Spokesperson:
It is
governmental
rather than
commercial.
Question:
This may be
for Martin.
Given that the
Secretary-General
appointed
the chairman
of the Bank of
America, one
of the world’s
largest
banks, that
took an
enormous
bailout, is
there any idea
of a sort of
engaging; I
mean, it’s all
fine and good
to talk about
Rio+20 and
sustainable
development,
but actual
regulation of
the financial
system, is
that on the
agenda? Is the
UN going to
use its entree
with banks to
raise them?
Spokesperson
Martin
Nesirky: Well,
if you take a
close look at
the statement,
which
obviously you
only heard so
far, but you
will see
shortly, as
Nihal
mentioned in
reading out
the statement,
one of the
round-table
discussions
will focus on
increasing
stability,
predictability
and
transparency
in the global
financial
system. And,
as we’ve
mentioned,
this is a
debate that
will be a
summary of
deliberations,
and it’s part
of a process,
as you know,
that involves
not just the
United Nations
but G-20 as
well. Other
questions on
this? Okay.
Thanks very
much!
It's
the banks
which should
be say "thank
you" -- thank
you for the
blue
washing! Who's
next in the
UN, JPMorgan
Chase fresh
off its $2
billion
gambling loss?
Watch this
site.
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