Wolfowitz Blames Ethics Panel and Riza for His Woes

White House yields; speculation on successor already lively

(NEWSER) - Paul Wolfowitz will leave the World Bank on June 30, capping a tumultuous two years for the development institution and its beleaguered president. Wolfowitz's tenure was marked by controversy from day one, when he assumed the office under the cloud of the Iraq war, until today, when a drawn-out ethics scandal finally drove him from office. More»

(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.” More»

Ex-World Bank president has lost both job and girlfriend

(NEWSER) - First the World Bank dumped him, and now Paul Wolfowitz is on the outs with girlfriend Shaha Riza, Page Six reports. "She was furious about the embarrassment," a source tells the Post, which says she resented implications she'd slept her way to the top. What's more, Riza didn't ask for the promotion that set off the scandal, another source said. More»

World Bank board negotiating terms of president's exit

(NEWSER) - Paul Wolfowitz may step down from the World Bank as early as today, CNNMoney reports. Wolfowitz and the World Bank board are still wrangling over the terms of his departure, but early accounts suggest that the beleaguered president would leave voluntarily and the bank would admit some responsibility for the handling of a transfer and hefty raise awarded to Wolfowitz's girlfriend. More»

Bank will discuss his fate today

(NEWSER) - The White House is looking for an exit srategy for besieged World Bank President Paul Wolfowitz. After months of unwavering support that failed to soften the bank's European partners, the Bush administration has indicated a willingness to replace him if it can be done without firing, the Washington Post reports. More»