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Paul Wolfowitz – World Bank President.

Posted by QB on May 8, 2007

I am watching this story from couple of weeks now how Paul Wolfowitz is trying to save his job as the President of World Bank. Wolfowitz still has the backing of Bush supporting him for giving his regime failed Iraq invasion and occupation policy. It is quite interesting to watch someone so incompetent holding on to top positions like Pentagon Defense Adviser and his failures got him promoted to the World Bank Presidency. Wolfowitz who assured Bush regime that Iraq invasion will only cost 72 billion dollars as initial cost and then this war will be self financed with IRAQI OIL Export and they will get back more than 72 billions dollars. Wolfowitz also miscalculated that US will be greeted as the liberators with Iraqis welcoming them with flowers. The cost of war now is over trillion dollars with the loss of 3,377 US soldiers with almost 1 million Iraqis dead. Iraq is destroyed completely and there is no hope for that the situation will improve in near future. This was his record before he was promoted as the President of World Bank.

Wolfowitz misused his powers and negotiated 195,000 salary raise for his girlfriend Shaha Ali Riza. The World Bank board is furious and demanding him to step down but with Bush support he believe he can hold on to his present job.

NEW YORK (CNNMoney.com) — Leading governments of Europe are willing to let the United States again choose the next World Bank president if embattled current President Paul Wolfowitz agrees to step down soon, according to a published report.

The New York Times reported the European governments had wanted to end the tradition of the United States picking the World Bank leader, but they signaled Monday they were willing to drop that demand if it meant that a public split on the international bank’s board could be avoided.

It was reported Monday that a special World Bank committee found that Wolfowitz was guilty of breaking rules barring conflicts of interest in arranging for a pay raise and promotion for Shaha Ali Riza, his girlfriend and a bank employee, in 2005.

The brewing controversy at the World Bank also led to Kevin Kellems, Wolfowitz’s top communications advisor, to resign from the bank Monday, effective next week.

This is another example of Bush regime corruption with people getting the benefits and financial gains and position because of their loyalty. US under Bush has become just like another third world corrupt county.

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