Watching the World: Separating wheat from chaff

The Volcker Committee report on the United Nations Oil-for-Food Program has certainly seen some heads roll since its publication. But eyeballs also should roll at some of the antics taken by governments around the world in response to the report.Consider India, where Foreign Minister Natwar Singh resigned under pressure after he was named in the internal UN report, which found that some 2,200 companies made illicit payments worth $2.4 billion to the regime of former Iraqi dictator Saddam Hussein.Then, just a day after Natwar had to step down, Indian Prime Minister Manmohan Singh came out in his support, saying that the Volcker panel’s findings were “unsubstantiated” and ...

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