The Asian Banker

Enhanced transparency needed to address widespread financial manipulation
Former World Bank senior counsel Karen Hudes blows the whistle on large-scale corruption in the global financial network, centring around US Fed

May 27, 2013 | Magessan Raj

If the sentiments of Karen Hudes, a former attorney at World Bank’s legal department, are of any indication, her verdict on the global financial system is a damning one, with the network allegedly overrun by corruption and led by several power-hungry individuals centred around the US Federal Reserve (US Fed). Fired for her whistleblowing efforts on the problems at the World Bank, Hudes has since joined a network of fellow whistleblowers determined to expose the misdeeds and corruption going on behind the scenes. In a recent interview with The New American, Hudes cited a 2011 Swiss study…

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Categories: Capital & Strategic Issues, Risk and Regulation
Keywords: Karen Hudes, US Fed, World Bank, BIS
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