The Wolfowitz Bank

Everybody ready for neo-con development politics?

President Bush said today he is nominating Deputy Secretary of Defense Paul D. Wolfowitz to be the next president of the World Bank, tapping one of his administration’s most controversial figures as the U.S. choice to head the 184-nation institution.

Because, y’know, after engineering a military quagmire in Asia, Robert McNamara was such a smashing success at the World Bank…

Or will it be a Koch-Weser moment?

UPDATE: Bloomberg comes through with a bit of the agenda.

Under Wolfowitz, the Bush administration may now try to narrow the focus of the World Bank, returning the international lending institution to its roots of primarily financing large infrastructure projects and limiting the practice of handing out zero-interest loans, analysts such as Alan Meltzer, who led a 2000 congressional inquiry into the World Bank, said.

Tapped also has scuttlebutt from 17th & H; in short, Wolfowitz will be hated by the institution he is slated to run.

On Monday, I was in the audience when a reasonably senior US diplomat speculated on improvements in US-European relations. I thought to myself, well, things will get a hell of a lot better on Jan. 21, 2009.