Trump will nominate David Malpass, a Treasury official, to lead World Bank

[Eugene]

Source: Washington Post

By Robert Costa February 4 at 11:24 PM

David Malpass, a senior Treasury Department official and World Bank critic, has accepted President Trump’s offer to lead the world’s largest development lender, according to two people familiar with the decision who were not authorized to speak publicly.

A formal announcement of the nomination is planned for Wednesday, the people said.

Malpass, 62, Treasury’s undersecretary for international affairs, would need to be approved by the World Bank’s 12-member board before becoming its president. The United States traditionally chooses the bank’s leadership.

Malpass, a Trump loyalist and veteran of the Reagan and George H.W. Bush administrations, has had sharp words for several policies at the World Bank, including its loans to China. He has also long expressed skepticism of global institutions.

-snip-


Read more: https://www.washingtonpost.com/politics/trump-will-nominate-david-malpass-a-treasury-official-to-lead-world-bank/2019/02/04/ff12a116-28fa-11e9-984d-9b8fba003e81_story.html

[llmart]

1. What? I was so hoping it would be that financial wizard, Ivanka.

[watoos]

2. So, how does this guy know Putin or Derepaska?

[sandensea]

3. His name (French) means misstep.

How appropriate.

[littlemissmartypants]

4. aka "bad way to go " nt

[sandensea]

6. Malpass in 2007:

"Housing and debt markets are not that big a part of the U.S. economy, or of job creation."

"The housing- and debt-market corrections will probably add to the length of the U.S. economic expansion."

As stupid as his two bosses.

[Lonestarblue]

5. I hope the World Bank board rejects him.

The US choice is traditional, but not mandatory. And when a US president nominates someone who wants to trash the institution, then they should be under no obligation to accept him or her.

[UpInArms]

7. Trump set to nominate World Bank critic David Malpass to lead it: reports

President Donald Trump is set to announce the nomination of David Malpass to lead the World Bank, according to reports by Politico and Bloomberg News on Monday night. An announcement will be made Wednesday, a day after Trump's State of the Union address, Politico reported. Malpass, a senior official at the Treasury Department, has criticized the World Bank as being too big and too inefficient, potentially complicating his confirmation by the World Bank's executive board. He has also been critical of multilateralism and China. The U.S. has traditionally been allowed to appoint the bank's head.

https://www.marketwatch.com/story/trump-set-to-nominate-world-bank-critic-david-malpass-to-lead-it-reports-2019-02-04

He only appoints people who want to destroy everything they touch ... am so sick of this crap

[mahatmakanejeeves]

8. Malpass was chief economist at Bear Stearns during the investment bank's historic 2008 collapse.

Last edited Tue Feb 5, 2019, 01:17 PM - Edit history (1)

Here's his official bio. He started out in physics. I hope this nomination doesn't signal a shift to favoring pro-science people and scientists for future appointments. We don't want any of that.

Under Secretary for International Affairs U.S. Department of the Treasury

David R. Malpass is Under Secretary for International Affairs at the U.S. Department of the Treasury. In this position, he is the principal advisor to the Secretary of the Treasury on international economic issues. Under Secretary Malpass oversees policies in the areas of international finance, trade in financial services, investment, economic development, and international debt policy. He also coordinates financial market policy with the Group of Seven industrialized countries.

He previously served as Deputy Assistant Secretary of the Treasury under President Ronald Reagan, Deputy Assistant Secretary of State under President George H. W. Bush, and Chief Economist at Bear Stearns. In 2008, he founded Encima Global, an economic research firm. In 2010, Mr. Malpass ran for the U.S. Senate in New York. During the 2016 U.S. presidential election, Mr. Malpass served as an economic advisor to then-candidate Donald J. Trump. Malpass has been a frequent contributor to the op-ed section of The Wall Street Journal and wrote a regular column in Forbes magazine.

During the presidencies of Ronald Reagan and George H. W. Bush, Malpass worked for Secretary James A. Baker on an array of economic, budget, and foreign policy issues, including the 1986 tax cut and the Latin American debt crisis. In addition to his Treasury and State Department positions, Malpass served as Senior Analyst for Taxes and Trade at the Senate Budget Committee and Republican Staff Director of the U.S. Congress’s Joint Economic Committee.

From 1977 to 1983, Mr. Malpass worked in Portland, Oregon. He was a CPA with Arthur Andersen’s systems consulting group, the controller at Consolidated Supply Co., and a contract administrator at Esco Corporation, a steel foundry.

Mr. Malpass is a former Board Member of the National Committee on United States–China Relations, the Council of the Americas, the Economic Club of New York, the Manhattan Institute, the Gary Klinsky Children's Centers, UBS Funds, and New Mountain Finance Corp (ticker NMFC).

He holds a Bachelor's degree in physics from Colorado College, an MBA from the University of Denver, and studied international economics at Georgetown University's School of Foreign Service.

On the other hand:

Jesus H. Christ on a .

Link to tweet

Malpass was chief economist at Bear Stearns during the investment bank’s historic 2008 collapse.

Link to tweet

Trump picks World Bank skeptic Malpass to lead institution

Link to tweet

[jmowreader]

9. Of course he did

Malpass meets the most important qualification for any Trump appointee: possessing a strong and unyielding hatred for the agency he or she is being nominated to run.

This is how we got Goodhair Perry as Secretary of Energy: not because he was governor of a state with a huge oil industry, but because he had publicly stated on numerous occasions he wanted to shut down the DOE.

This isn't a "gift to Russia" nomination, except perhaps vestigially. Rather, Trump's intent is to destabilize the World Bank and prevent it from doing its job until it collapses. Malpass will be more than up for the task.