World Bank President Paul Wolfowitz is facing serious opposition in his campaign to reform the 61-year-old institution — which many consider bloated and corrupt. Minutes of a January board meeting obtained by FOX News reveal Wolfowitz's critics say he lacks an effective strategy and clear vision for the bank — and reject plans to make almost any reform. Not all of the criticism is professional — one director has attacked Wolfowitz on subjects ranging from his role in planning the Iraq war to his choice of female companionship.
Part of the problem is that the bank's directors are also in many cases representatives of the borrowing countries. One former director said many experts are shocked by this — summing it up as a case of "the inmates running the asylum."