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Trump picks Treasury's David Malpass to head World Bank

Do you support David Malpass for World Bank head?

by Axios | Updated on 2.5.19

David Malpass, a top Treasury official, will be nominated for president of the World Bank by President Trump on Wednesday in an effort to shake up the international institution, a senior administration official told Axios.

  • Malpass, 62, Treasury's under secretary for international affairs, was a Trump campaign economic adviser, and has worked on development issues going back to the Reagan administration.
  • He replaces Jim Yong Kim, who resigned effective Feb. 1.
  • The announcement is being held until Wednesday because the State of the Union address is Tuesday.

Malpass can be expected to give the U.S. a more assertive role in the bank.

  • Malpass wants to make the development lender "more effective," and for the United States to be regarded as a "constructive, growth-oriented" force, in keeping with its historic role as the bank's largest donor, the official said.
  • He has criticized multilateral institutions like the World Bank as being "intrusive" and "entrenched," CNBC reported.
  • Our thought bubble, from chief financial correspondent Felix Salmon: Malpass has fewer qualifications than other contenders. And Trump supporters are scarce at the World Bank, to say the least. So his arrival is likely to be met with skepticism.

Malpass also worked in the administration of President George H. W. Bush, and was chief economist at Bear Stearns.

  • From his official bio: "Malpass has been a frequent contributor to the op-ed section of The Wall Street Journal and wrote a regular column in Forbes magazine."
  • "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."
  • He unsuccessfully sought the Republican nomination for U.S. Senate in New York in 2010.

The selection was reported earlier by Politico and Bloomberg.

Photo: Mario Tama/Getty Image

Axios

Written by Axios

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(32)
  • DrCindyBean
    Voted Oppose
    02/05/2019
    ···

    Are you effing kidding? Every nominee he comes up with is an atrocity.

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  • SneakyPete
    Voted Support
    02/05/2019
    ···

    Lets Get Realistic Folks and B$ to Our Democratic Opposition. We all can rest assured, that regardless of no matter whom President Trump nominates, the Progressive Steadily Socialist Leaning Political Left will of course, have nothing but negative sick 🤕 comments. They’ve nothing but contempt for OUR President, Conservatives, and OUR ideas and completely ignore the fallacy of their leadership, the Party, and Their failing ideology and philosophy. I’m for his wanting to make the development lender "more effective," and for the United States to be regarded as a "constructive, growth-oriented" force, in keeping with its historic role as the bank's largest donor, the official said. I’m in agreement that he has criticized multilateral institutions, like the World Bank, as being "intrusive" and "entrenched.” SneakyPete..... 🙀🙀🙀🙀. 2*5*19........

    Like (9)
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  • Dicr
    02/05/2019
    ···

    I wonder how much money changed hands?

    Like (8)
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  • Leslie
    Voted Oppose
    02/06/2019
    ···

    ANOTHER ONE OF TRUMP'S "BEST PEOPLE " NO THANKS

    Like (10)
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  • Dale
    Voted Support
    02/05/2019
    ···

    I support everything President Trump wants to do! He knows what he’s doing.

    Like (2)
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  • OlderNWiser
    Voted Oppose
    02/05/2019
    ···

    If it weren’t so destructive, the inappropriate, unskilled, often out right ignorance, and damage of the people #45 sees as competent would be funny. Since the destruction of our country and our standing in the world is less humorous, no more ignorant loyalists please.

    Like (9)
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  • Curt
    Voted Oppose
    02/06/2019
    ···

    He is another self serving stooge of the multinational corporate world.

    Like (7)
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  • Paul
    Voted Oppose
    02/05/2019
    ···

    Only someone with financial expertise and no ties to special interests should hold the job

    Like (6)
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  • John
    Voted Oppose
    02/05/2019
    ···

    Another unqualified Trump appointment appointed to dismantle or sabotage the institution and please his base. They seem to feel all national and world institutions are against them. Now they want the former chief economist for Bear Stearns (read about it) to represent an organization whose purpose it is to address world poverty from a macro standpoint.

    Like (6)
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  • David
    Voted Oppose
    02/05/2019
    ···

    Malpass has been one of the World Bank’s biggest and most vocal critics. Classic Trump move - appoint to had an organization the very people who want to dismantle/destroy them.

    Like (6)
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  • Steve
    Voted Oppose
    02/05/2019
    ···

    Stop all Trump's appointees. Impeach Trump.

    Like (5)
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  • Dave
    Voted Oppose
    02/05/2019
    ···

    Unsuccessfully sought the Republican nomination for U.S. Senate in New York in 2010, so he a natural pit by Trump!

    Like (5)
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  • Azrael
    Voted Oppose
    02/05/2019
    ···

    Seriously Will He last 3 months before the indictments start?

    Like (4)
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  • Page
    Voted Oppose
    02/06/2019
    ···

    He’s worked with Reagan to Trump. Anyone who actually believes in Trickledown economics is a dangerous fool. No. No to Malpass.

    Like (4)
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  • Arlene
    Voted Oppose
    02/05/2019
    ···

    Can congress stop this?

    Like (4)
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  • Linda
    Voted Oppose
    02/06/2019
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    No he is unqualified. He doesn't have finical experience. Trump keeps appointing people who want to destroy the agencies he appoints them to. Congress must do their job reject this appointment.

    Like (3)
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  • Brad
    Voted Oppose
    02/06/2019
    ···

    The orange racist coward has proven to be in capable of appointing qualified people therefore I oppose ALL his nominees

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  • Frances
    Voted Oppose
    02/07/2019
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    Sounds to me that like all of the other people Trump appoints, he is meant to bring down the agency and/or body to which he was appointed.

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  • ConflyktedPolitics
    Voted Oppose
    02/05/2019
    ···

    I'm kinda torn here. On one hand... historically this man has been very bipartisan in his outlooks on what will and will not impact America's economy. At the same time, I don't support anyone who was Chief Economist during the last six years of an invest bank's collapse. Just saying.

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  • Joel
    Voted Oppose
    02/06/2019
    ···

    30 pieces of silver for all rich Republicans. David Malpass will make a good bookend for bankruptcy king Wilber Ross. Trump continues to fill his cabinet with rich unqualified people and the GOP continues to confirm. FOR ONCE, TRY SERVING THE NATION, NOT THE MAN...

    Like (3)
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