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Started by D Lim; Last updated Jan 17, 08 10:13 PM CST by D Lim | View history

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World Bank

Even pre-Wolfowitz, the Bank was no stranger to scandal. Will Robert Zoellick be able to turn its focus outwardâ??back to the business of international development?

Stories

Stories 21 - 38 of 38

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May 2007
- Wolfowitz Headed Out the Door
  
  CNN | May 16, 07 3:55 PM CDT
  
  (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 »
- White House Support for Wolfowitz Crumbles
  
  Washington Post | May 16, 07 6:26 AM CDT
  
  (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 »
- Wolfowitz Blames Ethics Panel and Riza for His Woes
  
  Washington Post | May 15, 07 10:27 AM CDT
  
  (Newser) - Paul Wolfowitz fought back aggressively in a written response to the charges that he mishandled a raise and promotion for his girlfriend, the Washington Post reports. The embattled World Bank president claims the ethics committee forced him to handle the transfer himself because Shaha Riza was "extremely angry and upset," and so "intractable" that members feared a lawsuit. More »
- Bank Probe Slams Wolfowitz
  
  Financial Times (UK) | May 15, 07 6:21 AM CDT
  
  (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 »
- No-Confidence Vote Looms For Wolfowitz
  
  Washington Post | May 12, 07 8:00 AM CDT
  
  (Newser) - The World Bank executive board plans to force Paul Wolfowitz out of his post as president this week, reports The Washington Post; they're hoping a vote of no-confidence will induce him to resign without having to risk angering the U.S. by firing him. More »
- Speculation On Wolfowitz Successor Builds
  
  Washington Times | May 10, 07 8:00 AM CDT
  
  (Newser) - As pressure on Paul Wolfowitz to step down grows, so does the list of possible successors to the scandal-battered World Bank president. The conservative Washington Times focuses on Goldman Sachs executive Robert Zoellick, a former official in both Bush administrations; other names in play include Treasury official Robert Kimmitt and Reagan administration throwback Martin Feldstein. More »
- Europeans Offer Deal to Make Wolfowitz Quit
  
  New York Times | May 8, 07 7:00 AM CDT
  
  (Newser) - European partners in the World Bank have signaled to the White House that they want Paul Wolfowitz to resign, the New York Times reports, and they're willing to let the U.S. appoint his successor to make that happen. After an investigating committee found Wolfowitz guilty of ethical breaches, one European official called his credibility "beyond repair." More »
- Bank Panel Faults Wolfowitz
  
  New York Times | May 7, 07 4:07 PM CDT
  
  (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. More »
- World Bank Fallout Runs Downhill
  
  Associated Press | May 7, 07 3:30 PM CDT
  
  (Newser) - A top Paul Wolfowitz adviser—and Bush administration loyalist—has announced his resignation from the World Bank, citing the fallout from the Shaha Riza scandal. Kevin Kellems, who met Wolfowitz when both were at the Pentagon, says he cannot be "effective" in the wake of accusations that the bank president inappropriately secured a position for his girlfriend. More »
- Venezuela to Leave IMF, World Bank
  
  Wall Street Journal | May 1, 07 8:32 AM CDT
  
  (Newser) - Hugo Chávez said yesterday he will pull Venezuela out of the International Monetary Fund and the World Bank, institutions the leftist leader blames for contributing to poverty in Latin America. Venezuela will also take control of foreign oil projects previously run by multinational companies, some U.S.-based, in a bid to use control over oil to influence world politics. More »
- Wolfowitz Hints at Resignation
  
  Wall Street Journal | May 1, 07 6:07 AM CDT
  
  (Newser) - Besieged World Bank president Paul Wolfowitz suggested for the first time that he would resign his post—but only if he is first cleared of wrongdoing in ordering promotions and pay raises for his girlfriend Shaha Riza, reports the Wall Street Journal . A committee of the bank's board, investigating the charges, heard from Wolfowitz and Riza yesterday. More »
April 2007
- Wolfowitz Catches Hell From Angry World Bank Managers
  
  New York Times | Apr 25, 07 7:56 AM CDT
  
  (Newser) - Top managers at the World Bank held a tense closed-door meeting with Paul Wolfowitz last week, details of which have leaked to the Times. Managing director Graeme Wheeler told the sullied president he would cause “fantastic damage” by staying at the bank, which is facing "the biggest crisis in its history." More »
- Wolfowitz Hires Clinton Lawyer
  
  Washington Post | Apr 24, 07 7:32 AM CDT
  
  (Newser) - Paul Wolfowitz has hired Robert Bennett, Bill Clinton's counsel during the Paula Jones affair, to guide the besieged World Bank president through his own budding scandal. Bennett immediately dismissed talk of Wolfie's resignation, even after dozens of former staffers placed an ad in the Financial Times calling on him to quit. More »
- Euro Bank Giants to Merge
  
  BBC | Apr 23, 07 9:23 AM CDT
  
  (Newser) - Britain's Barclays Bank and Dutch bank ABN Amro have agreed to merge, creating one of the world's largest banks. The $90 billion deal is far from a sure thing, however—it requires approval by shareholders and regulators, and a group led by Barclays' archrival, the Royal Bank of Scotland, has expressed interest in ABN. More »
- Hitchens: Lay Off Wolfie!
  
  Slate | Apr 19, 07 8:19 AM CDT
  
  (Newser) - Unflappable contrarian Chris Hitchens casts a sympathetic eye at beset World Bank president Paul Wolfowitz. Cries for Wolfowitz's resignation have crescendoed since revelations that he had a hand in getting his girlfriend, Shaha Riza, a big promotion at the poverty-fighting organization last year. More »
- Wolves Circle Wolfowitz
  
  Wall Street Journal | Apr 16, 07 6:52 AM CDT
  
  (Newser) - Embattled World Bank president Paul Wolfowitz is hanging tough in the face of a crescendo of calls for his resignation after improperly promoting the interests of his live-in girlfriend. In a weekend of maneuvering, the bank's development committee offered no shelter, issuing a vague but harsh statement that the organization" adhere to a high standard of internal governance." More »
- Neocon No Sharper in Love Than War
  
  New York Times | Apr 14, 07 1:44 PM CDT
  
  (Newser) - The spectacle of Paul Wolfowitz clinging to his post at the World Bank after using it to promote his girlfriend is catnip to Maureen Dowd, an arch critic of the neocon cabal that cooked up the war in Iraq: "You will not be surprised to learn, gentle readers, that Wolfie in love is no less deceptive and bumbling than Wolfie at war." More »
- Sweetheart Deal May Sink Wolfowitz
  
  Washington Post | Apr 13, 07 6:41 AM CDT
  
  (Newser) - World Bank president Paul Wolfowitz faced mounting pressure to resign last night as details emerged over his role in ordering a promotion and pay raise for an employee with whom he is romantically involved. Wolfowitz apologized at a press conference and again to a gathering of bank staff members, where he was greeted with boos and chants of "resign, resign." More »

Stories 21 - 38 of 38

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World Bank Boardroom ((c) TroyMG)

World Bank Waterfall ((c) TroyMG)