William Easterly talk

I was curious to hear thoughts from you all about William Easterly's talk last Monday night. I know some of you couldn't make it, but you can probably still have some input on this.

In his criticism of the World Bank and other major aid institutions, Easterly talks a lot about the fact that they lack feedback and accountability.  Therefore, anytime they fund a project that doesn't work, there are really no repercussions for them.  I think Easterly makes a good point here; it would great to see a World Bank type group that is held accountable and thus has more incentive to be very particular about how its aid/loan money is used.

I feel like, though, I haven't seem him make any proposals as to how this would look.  Should the IMF, Bank, USAID, be restructured from the inside?  Should they be done away with started again? How do these institutions go about implementing a reliable source of accountability and a mechanism for feedback? 

I was curious to hear y'all thoughts on this. I know it's a huge question, but I would know what you guys think. Feel free to comment about whether you even agree with Easterly's statement, whether you think it's feasible, how such change would get done, anything. 

Thanks guys and Go Heels on Sunday!