Skip to comments.World Bank board negotiating Wolfowitz exit [Done Deal]
Posted on 05/16/2007 1:26:18 PM PDT by Sleeping Beauty
WASHINGTON, May 16 (Reuters) - The World Bank's board is negotiating details of Paul Wolfowitz's exit as bank president, board sources said on Wednesday following pressure by European countries over his handling of a promotion for his companion.
"They have resumed the meeting and are finalizing a deal," one of the board sources told Reuters after an adjournment of a board meeting earlier at the request of the United States.
The board sources from developed and developing countries said details of a package, including financial compensation, were being discussed with Wolfowitz's lawyer.
Under a contract he signed in 2005 when became World Bank president, Wolfowitz would receive a year's salary, which would be around $375,000, if his service was terminated by the board or if he resigned.
Wolfowitz's resignation would end a tumultuous two years at the poverty-fighting institution where he was dogged by a legacy as an architect of the Iraq war, despite focusing attention on Africa's needs and launching a controversial campaign against corruption.
Lesson learned -- never have sex with that woman.
Wait a minute. Isn’t Europe very cosmopolitan and sophisticated about liasons of a romantic nature? Don’t they expect this sort of thing is just the way it’s done?
The UN is composed of anti-semitic and anti-american venom.
This is but one more installment in its hatred of all things Bush.
The euro commies refuse any change to the international institutions they have infiltrated. First Bolton, now Wolfowitz. Instead of trying to change them, we should now put those organisations down.
They said that a source close to Wolfowitz says there are no negotiations and that he will not resign with a cloud of scandal over him.
I guess we will know for sure by tonight.
What is the purpose of keeping the World Bank and International Monetary Fund, the United Nations and its agencies, and NATO, all of which date to an era long gone?
The World Bank and IMF were created when the United States was the greatest creditor on earth. The bank was to lend for the reconstruction and development of Europe and Asia. The IMF was to provide loans to help members with balance of payments problems.
When Europe and Asia recovered, the need for the World Bank came to an end. By 1971, when the United States closed the gold window and let the dollar float, the need for an IMF to maintain fixed rates of exchange, in a world of floating rates, disappeared.
Yet both institutions reinvented themselves as lenders of last resort to bankrupt Third World regimes, and Republican presidents and a Republican Congress went along. Why? Why should the United States, now the world's largest debtor nation, go out into the capital markets and borrow billions, so the World Bank and IMF can continue to subsidize the most corrupt and least competent regimes on earth? Does this make sense?
Between them, the Japanese and Chinese have amassed $2 trillion -- two thousand billion dollars -- in reserves. Why not turn the IMF and World Bank playpens over to them? Though the soft-loan window of the World Bank, the Institutional Development Fund, was created to help "the poorest of the poor," 8,000 of the 10,000 World Bank employees live and work in the Washington area, where "World Bank neighborhood" is a realtor's way of saying, "You can't afford it."
But Wolfie went there
KNOWING they'd want to get him
and he still allowed
a clear paper trail
linking him to his girlfriend.
Everything he did--
even when he tried
to distance himself from her--
was done half-assed so
the bad guys always
had just enough smoking gun
to run Wolfie out.
How does Reuters know this?
Why is Reuters so fixated on this?
(They put out a new “news” report every two hours).
Wolfie padded the tab for his babe, period. In real life ordinary people can’t get away with that kind of stuff. But, there, in that rareified atmosphere, the Wolfies actually think they can fight to justify it. And, also, think that the rest of us can’t see the forest for the trees.
All the Euro lefties are obsessed with this. The Guardian has been going nuts over this for the last two weeks. But we all know that the BBC takes its cues from the Guardian. In two of the last three nights, the BBC World News has led their broadcasts with this story. Now honestly, is this the most important news event that has happened over this time period? To the Bush-deranged lefty Euros, it is.
I wonder if the woman in question will be going back to the World Bank after the dust settles. She did not want to leave in the first place. It appears that the enemies of Wolfie and Shaha, those crazy lovebird kids, won this battle of political in-fighting.
All the Euro lefties are obsessed with this. The Guardian has been going nuts over this for the last two weeks. But we all know that the BBC takes its cues from the Guardian. In two of the last three nights, the BBC World News has led their broadcasts with this story. Now honestly, is this the most important news event that has happened over this time period? To the Bush-deranged lefty Euros, it is."
In other words, British owned Reuters, the Guardian, the BBC and the rest of the leftwing "media" are stooge operations acting as agents for whatever the latest left wing agenda is.
The Wall Street Journal
has had interesting coverage.
very strongly. But their news
his mis-steps as well.
If all papers were like that
more folks would read them.
You have to understand that the NY TIMES and the Washington Post save time by putting their editorial opinons on their front pages as “news.”
This is totally disgusting. Another Bush surrender.
The WSJ notoriously has a conservative editorial page and a leftist news staff.
Promise to always post on my threads?