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In the news from Haiti over the past two weeks, images of a grieving Bill Clinton have been almost as constant as the pictures of the earthquake victims themselves. Everywhere you look, the former president seems to appear—expressing his sorrow and pledging to make his foundation the cornerstone of a vast rebuilding effort.

When Mr. Clinton toured the devastation last week, the Miami Herald described him as "teary eyed." But teary eyed is a more apt description of how Haitians could end up if Mr. Clinton takes charge of Haiti's recovery, as it now appears he would like to do.

According to sources familiar with the issue, word has already gone out that Mr. Clinton has been unofficially designated by the multilateral aid community as the conduit through which anyone who...