As the story states, this is another significant setback for the Obama administration. Interesting that it claimed to be pushing for higher lending standards abroad, but all too ready to relax them at home, despite what should have been learned in the mortgage meltdown. One more front for failure.
why in the world would you want to introduce "lending standards" to an organization that uses mostly US tax-payer money (e.g. the World Bank) to issue a "loan" to to hire US contractors like Kiewit or Bechtel to build a dam in Uganda?
The new AIIB is a huge threat to the World Bank and a huge loss for Obama