World Bank president James Wolfensohn attacked rich nations for spending hundreds of billions more on their militaries and their farmers than they do helping the poor.

His opening speech included, "Our planet is not balanced.   Too few control too much and too many have too little to hope for."

He went on to criticize rich countries for providing only $56 billion per year for developmental assistance to poor countries compared with more than $300 billion they spend on agricultural subsidies and $600 billion spent on defense.

The failure of recent global trade talks where delegates from several poor nations walked out leaving wealthier nations in Cancun, Mexico, highlights the serious divide that must be overcome to create a stable future, Wolfensohn said.

Perhaps after this diatribe Wolfensohn adjurned for cocktails, dinner, wine, entertainment and then on to his 5-star hotel?