Endgame

World Bank's President Paul Wolfowitz have resigned. His resignation is effective as of June 30th. His resignation came with a price however. Wolfowitz and his attorney were able to establish an agreement with board members of the bank to exonerate his name despite the dismay of several European representatives.

In a statement released last night, the board conceded that "a number of mistakes were made by a number of individuals in handling the matter under consideration," and the bank would need to improve its ethical procedures. The board declared that Wolfowitz "assured us that he acted ethically and in good faith in what he believed were the best interests of the institution, and we accept that."

The statement added: "We are grateful to Mr. Wolfowitz for his service at the bank. Much has been achieved in the last two years."

I haven't seen anything like this since Dick Cheney shot his friend in the face with birdshots. Not only did Wolfowitz get off with no punishment or fine, the World Bank even apologized for mishandling the case. I really like this line "[he] assured us that he acted ethically and in good faith in what he believed were the best interests of the institution, and we accept that." Um what? How is giving unreasonable raises to your girlfriend align with the interest of the World Bank? I guess when you hold high political power, you're basically above the law.

READ