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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Yves Smith</author_name><author_url>https://www.nakedcapitalism.com/author/yves-smith</author_url><title>How Wall Street Gets Development Agencies to Push Emerging Economies into Derivatives | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="488VXK2lxd"&gt;&lt;a href="https://www.nakedcapitalism.com/2013/04/how-wall-street-gets-development-agencies-to-push-emerging-economies-into-derivatives.html"&gt;How Wall Street Gets Development Agencies to Push Emerging Economies into Derivatives&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2013/04/how-wall-street-gets-development-agencies-to-push-emerging-economies-into-derivatives.html/embed#?secret=488VXK2lxd" width="600" height="338" title="&#x201C;How Wall Street Gets Development Agencies to Push Emerging Economies into Derivatives&#x201D; &#x2014; naked capitalism" data-secret="488VXK2lxd" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>Yves here. This post helps fill readers in on an important, but under the radar topic: how various international organizations push hard to make emerging markets fertile ground for America's financiers. I became aware of this practice by happenstance. A McKinsey colleague left to join the World Bank in the 1980s. Her job was to set up capital markets in emerging economies. Later on, she set up private equity funds in emerging economies. She left the World Bank recently to help found an emerging markets PE fund of her own. Mind you, it's not as if she needed the money. She will get a $160,000 (no typo) annual pension for her time at the World Bank, and if she'd stayed a few more yeas, it would have been $220,000.   However, as this post details, the sort of revolving door practices that have been used to suborn regulators in the US appear to have the same sort of persuasive effect on key development agency officials.</description></oembed>

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