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Bank Probe Slams Wolfowitz

Posted May 15, 07 6:21 AM CDT in US,  Business 

(Newser) – World Bank President Paul Wolfowitz broke the bank's code of ethics, three bank rules and the terms of his own contract when he ordered pay raises and promotions for his girlfriend, a panel investigating his role concluded. The Financial Times details the withering report, which says Wolfowitz displayed "questionable judgment and a preoccupation with self-interest.”

His conduct "simply turns logic on its head,”  the report says. “He did not agree with the advice he received about the legal requirements in connection with the conflict of interest, so he stopped seeking advice from the bank’s legal vice-presidency.” A showdown between Wolfowitz and the bank's board is scheduled for today.   

Source Financial Times (UK)

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In a file photo World Bank President Paul Wolfowitz listens during a news conference at the conclusion of the 2007 Spring meetings at International Monetary Fund headquarters in Washington, Sunday, April...   (Associated Press)
World Bank President Paul Wolfowitz speaks during a news conference in Washington in this April 15, 2007 file photo. (AP Photo/Manuel Balce Ceneta, File)   (Associated Press)
World Bank President Paul Wolfowitz is shown in this 2006 file photo in Monrovia, Liberia. Wolfowitz broke bank rules in arranging a hefty compensation package for his girlfriend, a situation that has...   (Associated Press)
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