Over the last three days we have considered carefully the report of the ad hoc group, the associated documents, and the submissions and presentations of Mr. Wolfowitz. Our deliberations were greatly assisted by our discussion with Mr Wolfowitz. He assured us that he acted ethically and in good faith in what he believed were the best interests of the institution, and we accept that.
We also accept that others involved acted ethically and in good faith. At the same time, it is clear from this material that a number of mistakes were made by a number of individuals in handling the matter under consideration, and that the Bank’s systems did not prove robust to the strain under which they were placed.
Oh c'mon on. What a bunch of politically-phrased, butt-covering baloney.
The Executive Directors acknowledge Mr. Wolfowitz’s decision to resign as President of the World Bank Group, effective end of the fiscal year (June 30, 2007). The Board will start the nomination process for a new President immediately.
It might help if you didn't hire another pompous neocon ass who doesn't know the definition of "ethical behaviour". (Then again, probably not.)
blah, blah, blah...
Another Bush sockpuppet bites the dust in disgrace. Too bad Bush already filled that war czar position, hey Wolfie? I hear Cheney's looking for a new maid though. Cleanup on aisle 4.
Related: The WaPo has more:
His resignation came as key members of the bank's 24-member executive board were mobilizing to push through a resolution expressing no-confidence in his leadership, a step that would have made it effectively impossible for him to continue, senior bank and Bush administration officials said.
The bank's board was moving toward that unprecedented step after a committee report that found that Wolfowitz broke ethics rules and undermined the reputation of the institution when he directed staff to award a substantial raise to his girlfriend and then covered up the details.
But in agreeing to leave, Wolfowitz extracted a significant measure of exoneration -- his key demand in the negotiations.
The moral of the story: Threaten blackmail and walk away scott free.