Wolfowitz 'guilty of conflict of interest'

Wolfowitz 'guilty of conflict of interest'

www.timesonline.co.uk

An ethics panel has found Paul Wolfowitz guilty of breaking the rules as president of the World Bank to authorise a pay rise and promotion for his girlfriend, it was reported today.

(visit the link for the full news article)

I'm speechless. Don't these high rollers know such things are noticed?

Unbelievable


www.timesonline.co.uk
(visit the link for the full news article)

Originally posted by masqua
I'm speechless. Don't these high rollers know such things are noticed?

Unbelievable

That was my initial reaction when I first posted about this a few weeks ago. But, the more I hear about it the more I think it just may be a hit job by people who just don't like him.

Apparently it was well known that he was involved with this woman at the World Bank from the very beginning when he was appointed, and worked with the board there to come up with a solution and this move for her to the State Department was approved as a way to get rid of conflict of interest. So it sounds to me like it might be hypocritical to for them to come back later and complain about it.

Yes it has been noticed for some time.
Have been talking about it some in a thred here.

Here is a continueing up date. This one is kind of interesting.

WASHINGTON, DC, United States (UPI) -- European governments will let Washington choose the next World Bank president if Paul Wolfowitz resigns voluntarily, a published report said Tuesday.

European officials earlier said they wanted to end the tradition of having the United States pick the top job of the global poverty-fighting institution.

But they are now changing their position in the hope Wolfowitz will resign of his own accord rather than wait for censure or dismissal, The New York Times reported.

Well DUH!!! If promoting your girlfriend isn't a conflict of interest I don't know what is. Of course arrogance tends to think people won't notice.

Interesting you should mention the arrogance that he would think he could get away with it. I do think you are right. Something more to the point if he thinks he can get away with this situation, how much more has he gotten away with in the past?

The most recent news report I thought was interesting also. It seems Europe wants him out pretty bad also.

The outcome was a foregone conclusion.

Wolfowitz to resign

Masqua,
Yes I saw that also.
I do not think it was a forgone conclusion, but thanks for posting it.
The interesting part is that Tony Blair may be the one taking his place.

Yes... I noticed that News Item

I wonder how capable Blair is as custodian of the world bank?

Any better than my wife? I doubt it.

The Blair for World Bank Rumour

Looking at the source for this news item;

Adrian Wooldridge, the Washington bureau chief of the Economist magazine, says he has heard a lot of rumors about Mr. Blair's interest in the job and his departure as prime minister in late June would make the timing for a transfer just about perfect.
link

... I'm left wondering who Mr. Wooldridge 'heard his rumors' from, exactly.

As bureau chief of The Economist, he could very well be talking about what was said around the watercooler yesterday.

I'm not buying this just yet. It's mere speculation over the timing of Blairs departure. I hope they give the job to someone who has experience in the field this time.

fixed link


[edit on 17/5/07 by masqua]

I know its still a roomer so far. However the thing is Blair and Bush are reportedly rather close. That being the case would Bush intend to appoint another neoconservative to the world bank post? Then the next question is, would Blair be enough of a neoconservative ?
Also lets all not forget what the world bank does. It makes huge loans to developing countries to exploit there natural resources and since they cant repay there loans the world bank takes huge amounts of the profits from the developed resources.
So is that something Blair will still do?

A rumour of a rumor on a dicey news site, imo...

Check out the disclaimer on the website where the story originated.

link

EU-Digest, a free service of Europe House, provides news highlights and links to European related news reports on economic, social and political issues. Europe House reserves the right to deny any comments or articles it finds irrelevant. The information published in EU-Digest does not necessarily reflect the viewpoint or the opinion of Europe House.

*bolding pour moi

Originally posted by RedGolem
It makes huge loans to developing countries to exploit there natural resources and since they cant repay there loans the world bank takes huge amounts of the profits from the developed resources.

I hear you, RedGolem. The system isn't particularly known for its generosity, is it?

So is that something Blair will still do?

Perhaps if the Bilderbergers wanted him to, he would. At least I assume they'd prefer a 'yes man' at the helm to do their bidding. It wouldn't do to place an experienced economist in that position, would it?

/sarcasm

Some more news from the World Bank website;

The Executive Directors accept Mr. Wolfowitz’s decision to resign as President of the World Bank Group, effective end of the fiscal year (June 30, 2007). The Board will start the nomination process for a new President immediately.

...and, from the statement by Paul Wolfowitz on the same page:

I am particularly proud to have appointed two African women as Vice-Presidents in key positions, each of them a former cabinet minister with real world experience in solving problems in democratically elected Sub-Saharan governments. Only when African voices with African experiences are fully empowered at the Bank, will the Bank be seen as a center for solutions in that part of the world. We need senior leaders who have real-world experience in tackling the toughest challenges in the poorest countries.

Hmmm... now that might be a significant clue as to who may truly be the picked as the new president.

"I am particularly proud to have appointed two African women as Vice-Presidents in key positions, each of them a former cabinet minister with real world experience in solving problems in democratically elected Sub-Saharan governments. Only when African voices with African experiences are fully empowered at the Bank, will the Bank be seen as a center for solutions in that part of the world. We need senior leaders who have real-world experience in tackling the toughest challenges in the poorest countries."- Paul Wolfowitz

In light of comments made by Andrew Young on PBS last night, I find the above quote interesting. Mr. Young, the United States first African American ambassador to the United Nations, opined that the 'World Bank is becoming obsolete in Africa.' The reason behind his statement: surging Chinese investment in African infrastructure and social programs. Inspite of Mr. Wolfowitz reported successes in Africa, it appears the World Bank is actually losing it's footing on the continent to an aggressive Chinese government. Behind the veil, could poor job performance actually be contributing to a forced resignation?...only speculating.

News briefs such as this one today, or any number of articles found on any given date at; "The Peoples Daily" Business Page, illustrate the rapid growth, and strengthening of Chinese-African economic relations.

Back to Wolfowitz...did he believe he could get away with it?...probably, look at his history.

The World Bank, with it's dominance being challenged, would be extremely image conscious. Mr. Wolfowitz will forever be associated with the culture of arrogance that permeates the top echelons of the current U.S. Administration...and now this. I won't for a minute believe that he was unaware of his impropriety. Beyond the possibility that there may be personal agendas aiding and abetting his downfall...remember the intense competition for countries like Africa, and the World Bank's need for respectability if it plans to contend. I'm not surprised that Wolfowitz' personal statement was permeated with African references.

While I'm no fan of Wolfy's...or the World Bank, I do have a couple of concerns surrounding his resignation. First; I'm sure we'll get a replicant...and second; that replicant may be less obvious and more effective.

Peace &
Good Fortune
OBE1



[edit on 18-5-2007 by OBE1]

Thanks for that OBE1

In light of the information you've provided in the links provided, I can see how Africa is going to play a significant role in the future World Bank dealings.

On a side note... just how much US debt is China buying these days?

The 4 things that Wolfowitz did wrong

He violated the code of conduct
He broke the staff rules
He broke his contract
He damaged the bank

For details, please visit link

Is there, as is indicated in the 'comments' below the story, a fifth reason in that Wolfowitz helped orchestrate the Iraqi War?

And, if that was part of it, how does installing Blair as president of the World Bank help fix that situation?

President Bush to Replace Wolfowitz Quickly

Treasury Secretary Henry M. Paulson Jr. is to lead the search, but ultimately the choice will be made by President Bush, administration officials said. Mr. Paulson’s priority, they said, will be to find a capable and experienced manager, perhaps at a corporation, banking firm or even a university.

-snip-

Two names that are the focus of initial speculation are Douglas A. Warner III, the former chairman of JPMorgan Chase, and Richard Levin, an economist who is president of Yale and is close to Mr. Bush.

Also being mentioned are Bill Frist, the former senator from Tennessee and former Senate majority leader, and Robert B. Zoellick, the former deputy secretary of state and trade representative.


-snip-

There was considerable pressure from European nations to replace Mr. Wolfowitz, with some speculation that the situation might bring to an end the custom, in effect since the 1940s, of the American president picking the bank president. But European officials indicated that they would go along with the United States picking a successor if Mr. Wolfowitz would resign voluntarily, as he now has.

NYT LINK

Hokey Smokes... no mention of Blair?



Must be because of that huge partisan chasm... we all know how one-sided the New York Times is, right? Fox News will likely be full of hot type promoting Blair to the position.

Interesting article, though, it goes on for two pages with plenty of historical detail on the World Bank.



[edit on 18/5/07 by masqua]

Well, now he's gone, so everybody is happy.

Inside the bank they are, I should think ..except they have to carry the grudge and disgrace of the leadership of "the prince of dark for" another 42 days.

Wonder if Wolfi will meet in office at all during the last days.

Some time ago I read a very good article on the problems at the World Bank under Wolfowitz, how he never fit into the special corporate culture of it. Unfortunate I can't find the article searching Wolfowitz and World Bank, it gives nearly 7 million hits. Even by key phrases I remember, such as the bank is "a nation within a nation, a world in itself", I cannot find it. Shame, cause it was a good article giving the psychological climate under Wolfi's reign.

What seems to have been at play there, is an arrogance extraordinaire, coming to the bank with the purpose first of all to "americanize" a truely international body. To enforce his PNAC doctrines on the bank was the agenda of Paul Wolfowitz, to subdue it to the politics of United States government was his goal. One thing he will be remembered for, for instance, is to have established the World Bank with a high presence in Iraq.

But to not show any respect to a business or organisation you're gonna lead is bound to fail. To take on a job, not being able to hide your contempt for the institution you're in charge of is never gonna work.

I tell you, that man is ridden by arrogance, and it's gonna make him fall hard some day.