jeffrey sachs

Obama Nominates Physician, Global Health Expert to Head World Bank

 Photo via Getty Images.

Dr. Jim Yong Kim, nominee for president of the World Bank, at the White House Friday 3/23/12. Photo via Getty Images.

In a move that surprised many in the world of economics and politics, on Friday morning President Obama nominated Jim Yong Kim, the South Korea-born physician, anthropologist and president of Dartmouth College, to be the next president of the World Bank.

Prior to taking the helm at Dartmouth in 2009, Kim, 52, led the global health and social medicine department at Harvard Medical School, of which he is a graduate. Widely considered one of the leading minds in world health, Kim also has served as a director of the HIV/AIDS department at the World Health Organization, where he focused on helping developing countries improve treatment and prevention programs.

Obama called Kim, “an innovative leader whose groundbreaking work to fight disease and combat poverty has saved lives around the globe.” The President said Kim is exceptionally well qualified for the position but brings “more to the role than an impressive record of designing new ways to solve entrenched problems.

“Development is his lifetime commitment, and it is his passion,” Obama said. “And in a world with so much potential to improve living standards, we have a unique opportunity to harness that passion and experience at the helm of the World Bank.”

Bono and Jeff Sachs on Foreign Aid: Ending Dependency

On a recent trip to the African nation of Ghana, Bono of U2 and economist Jeffrey Sachs spoke to the U.K. Guardian newspaper about their hopes for the future of foreign aid.

"There's one thing that might help with aid cynics. Because clearly no one likes the culture of dependency," Bono said. "No one's arguing for it. We're arguing to end it. I think there's something a bit funky about aid as it stands right now. The two most important parties involved in the transaction – the taxpayer who's providing the resources and the person who needs those resources to stay alive or keep their family alive – are the two people who know the least about what's going on. So that has to change."

#OccupyWallStreet News: The Latest Headlines from the Weekend and Monday Morning

Protest sign from an Occupy march in New York City on Oct. 30. Image via Wylio.

Protest sign from an Occupy march in New York City on Oct. 30. Image via Wylio.

Police surround Occupy protest in Oakland Monday morning. Hackers threaten to "remove" Vancouver from the Internet if Occupy demonstrators are moved. Violent fringe is a challenge to Occupy movement. Are sexual assaults being under-reported at Occupy encampments? Popular Hawaiian musician occupies Obama event with a song. Occupy protesters set up camp outside a second UK cathedral. Are Occupiers the new Progressives? And much more news from the Occupy Movement worldwide inside.

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