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The Collective
Thursday, May 17, 2007
By Dr. Steven Taylor

VIa ABC News: Wolfowitz Out: Guilty of Breaking World Bank Rules

World Bank President Paul Wolfowitz has resigned his post, effective June 30.

An internal panel tasked with investigating the lucrative pay and promotion package Wolfowitz arranged in 2005 for girlfriend Shaha Riza found him guilty of breaking bank rules.

The committee also found that he tried to hide the salary and promotion package from top ethics and legal officials within the bank. The report added that there is a “crisis in the leadership” at the World Bank.

Wolfowitz is the first World Bank president to ever leave the bank under a cloud of scandal.

This is actually harsher than expected, insofar as yesterday it seemed that the Bank might clear his name in exchange for the resignation. Certainly it has been clear for some time that he would be leaving the position-it was all a matter of when he would go and how.

The good news is that everyone can now safely go back to utterly ignoring the World Bank again…

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2 Comments

  1. The ABC version seems harsh. Other versions at least mention the Bank’s admission of giving bad advice to Wolfowitz and other mistakes made internally.

    I guess it shows you the power of old Europe and how much the status quo means to them.

    I noticed ABC couldn’t help but predicate it’s story on Wolfowitz being an “architect of the Iraq war”. It really boils down to that being his most important sin. What he accomplished at the Bank is hardly mentioned by anyone.

    Comment by Steven Plunk — Thursday, May 17, 2007 @ 6:29 pm

  2. Mr. Plunk,

    The manner of Mr. Wolfowitz’s dismissal shows much the opposite of what you state. The very fact that the Bank “admitted” to some sort of culpability shows nothing other than deference to the US. Instead of simply being kicked out, as he deserved, he was allowed to step down, almost with dignity.

    In fact, where on earth you got your idea that “it shows you the power of old Europe and how much the status quo means to them” is absolutely beyond me.

    As to the “accomplishments” at the world bank, I would say that the only positive thing he managed to do was draw attention to the world bank’s existence, despite the fact that it was for all the wrong reasons. You should be grateful that the papers do not underline his other “accomplishments”.

    Comment by james — Thursday, May 17, 2007 @ 8:23 pm

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