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THURSDAY, NOVEMBER 26, 2009
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Bank Panel Faults Wolfowitz

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(Newser) – World Bank president Paul Wolfowitz is guilty of a conflict of interest for finagling promotions and raises for his girlfriend, according to a panel of seven bank directors. The result isn't binding and doesn't recommend a punishment, but bank insiders tell the Times that a majority of the 24 board members want Wolfowitz out.

Only the board as a whole can fire the president. But the verdict is already sparking speculation about the Iraq war architect's resignation and—for forward-thinking bureaucrats—replacement. The foreign press is hinting that the scandal might afford Europe a chance to pick the president, abandoning the tradition of an American appointment.

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World Bank President Paul Wolfowitz gestures as he addresses the media at the European Council headquarters in Brussels, Wednesday, May 2, 2007. Wolfowitz attended an EU-hosted Global education conference to mobilize governments around the world to deliver on their promises for education in developing nations. (AP Photo/Yves Logghe)
World Bank President Paul Wolfowitz gestures as he addresses the media at the European Council headquarters in Brussels, Wednesday, May 2, 2007. Wolfowitz attended an EU-hosted Global education conference...   (Associated Press)
This picture made available by the World Bank on April 11, 2003 shows Shaha Riza. World Bank President Paul Wolfowitz decried what he called a
This picture made available by the World Bank on April 11, 2003 shows Shaha Riza. World Bank President Paul Wolfowitz decried what he called a "smear campaign" against him Monday, April 30, 2007, and...   (Associated Press)
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