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Wolfowitz Resignation Deal in the Works
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Behind the scenes of the gladiatorial battle that will take place between Paul Wolfowitz and the World Bank Board today are efforts by his lawyer, Robert Bennett, and the Bank staff to negotiate terms of Wolfowitz's departure.
According to some insiders, Wolfowitz wants "some acknowledgment" of the Bank Board's complicity in the messy circumstances surrounding his and Shaha Riza's situation.
Secondly, allegedly on June 1st, Wolfowitz becomes eligible for some large financial bonus -- for performance and time on the job. One estimate puts this figure at about $400,000. Wolfowitz wants to make sure those funds are credited to his private bank account before saying farewell to an institution that has come to despise him.
Both sides have threatened each other with slow, painful, drip-drip approach to the release of damaging information that each side has about the other.
One blast in the battle are revelations that it costs the Bank a whopping $5 million per year to pay for Wolfowitz's security detail. Others have told me of Wolfowitz's failure to discipline aide Kevin Kellems for equally whopping violations of Bank protocol -- particularly while traveling on Bank business.
Wolfowitz is angry at the Bank at all those other than his closest spear-carriers. At one level, he does not want to resign and wants to tear the World Bank apart by forcing escalation in this war. But others -- particularly Secretary of the Treasury Hank Paulson -- have made it clear behind the scenes that a negotiated outcome that saves some face for Wolfowitz will give all sides an opportunity to push what one Paulson insider calls "the reset button."
-- Steve Clemons
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Laying the blame on others for his nauseating corruption; pathetic judgment; and, slimy behaviour AND lots-n-lots-n-lots of $$$$$$$$$... Wolfie's "offer that they can't refuse"?
Such undignified and vulgar self-promotion & profiteering by Wolfie:-- of course, he and his neo-con cohorts (Bush, Cheney, Rice, Rove, Gonzales, et. al.) are all birds-of-a-feathered vultures and it's no wonder that they flock together.
The World Bank should fire him today; tell him to write his own propaganda screed to defend his own sordid & squalid reputation; and remind him that bonuses are awarded for executives whose performance is over-and-above the call of duty, and NOT to some unstable, corrupt little goon like Wolfie.
Is there any point in Washington at which criminal behavior is actually treated as such?
Is there no law that deals with rampant corruption at an international institution?
Is there no limit to the actions that will be tollerated by those who hope, one day, to take advantage of the same mind-set?
I have long used the adage that, in Washington, whenever anyone does something wrong, everyone else gets punished. Usually by having to put up with restrictions and paperwork designed to prevent the criminal behavior from happening again, while the criminal who prompted the burden waltzes off to a tenured position and a multi-million-dollar book deal.
Is nothing short of breaking and entering or murder enough to either put someone in jail or seize their assets?
Will there ever come a time when pay is based on performance, rather than status?
Is this a nation of law, or of connections?
And if the answer is what we know it is, what do we do about it?
hopefully the deal will also allow the bank to be rid of Riza. the two of them can go off somewhere and count their money.
I would like to remind all the terriers out there that Wolfie still won't have enough money for the kind of "security" he will need after he leaves the WB....go get him boys, gawd knows he deserves it.
Revenge is a wild kind of justice...so sayth Sir Francis Bacon.
Be careful "Carroll." You don't want to go on record advocating for violent retribution against another person, let alone someone protected by the United States Treasury Department.
I assure you that some folks take these types of "threats" very seriously. My advice to you is to tone it down ASAP.
I thought only African dictators and former Soviet apparachiks demanded money before heading into exile.
What an embarrassment. Who is it who said you'll never find a poor neo-conservative?
Good for Harry Paulsen for pushing the ADULT behavioral position -- because Wolfie's 3-year-old behavior ("You can't make me") was, of necessity, generating a 13-year old babysitter's response ("I'll tell your parents") by the Board which was leading to Wolfie's "surge" idea of You authorized what I did, which ...
BUT, of greater note in the overall Washington DC "reality", IF HP is the force behind this return to rational senior government management style, THEN it clearly demonstrates that the WH/Rove reach is now exhausted, trumped, severed, certainly with the major departments. Bush can mouth all the support statements that Bolten & staff supervised by Rove can write, but there's no there anymore. The Blue Smoke has turned vaporously transparent.
Democrats take note: The War Within The Republican party is now well underway -- the Hagel/Novak column is the OVERT first salvo. Also note dolalrs going to Hilary & Barack. HP getting Wolfie out means that the GOP-dominated bureauracy can make deals again separate from the WH. Only Condi & State are fatally compromised, until the dam breaks, which I used to think was September after the GOP people get back from the August hustings, but now I'm thinking it'll be mid to late July.
Why then? 6 to 9 more American soldiers (your sons & daughters, nephews & nieces) are dying on average every week. So that means over 12 weeks another 72 to 108 deaths, a fact which I intend to communicate to every member of the Congress.
Because 1 more is 1 too many.
Keep up the great reporting on PW.
Haven't been able to keep up, so apologies if this is old news. Andrew Cockburn has a historical article on PW worth a read : http://www.counterpunch.org/andrew04262007.html
Iif there i enough mney for him he will do what ever you want him to do. Whore?
the world bank, if it had any credibility would fire his ass yesterday. they seem meant for each other.
40K? No supporter of Wolfowitz but look at the money the bank wastes on fradulant loans to corrupt governments. (Billions) This issue had been reviewed about a year ago by the very same folks that now asking for Paul's head. The real problem here? China got all worked up and asked Wolfowitz to stop messing around in the corruption business lest he turn up any wrongdoings by the Chinese in their Olympic year. Also, he planned to cut the over paid and fed bank staff by 20%. They don't pay taxes on their salaries. How much does that cost the US government per year? Alot more than he pays his gal pal or his cronies. If you ask me they deserve one another.
I can't believe this man is fussing over $400,000. If he quits today, can't he start working for a neocon think-tank and make that amount of money in the intervening 2 months? Wouldn't that be like, half his signing bonus? It's like Dr. Evil threatening to blow up the world for
"One... meeeeeelion dollars!"
Posted by anon at April 30, 2007 10:38 AM
>>>>>>>>
Thanks for the concern, but I don't care.
If it takes terriers to bring Wolfowitz to justice, fine by me...obviously no one in this goverment has the balls to do it.
to correct something posted incorrectly by beltway greg: american world bank staff do pay taxes on their earnings. foreign staff do not although some countries require them to pay back home.
This guy is petty embarassment personified. He's the kinda guy stockades were built for.
Why negotiate? Why ease him out? To spare his feelings? This isn't some fragile highschooler we're talking about here.
This guy has failed at everything. He can't do defense--Iraq. He can't do diplomacy--Turkey. He can't do intel--Feith. And he can't do finance--nor ethics, for that matter.
Fire him. The World Bank can take the heat--and if they don't, he'll be back, recycled to wield influence again.
i hear ya, springbored. What would be the point in firing him if he isn't to blame for being fired? So he can have a full year salary as if he were completing his job thru next year? These neocon cowards just continue to embezzle and extort.
Mr. Clemons? What are you talking about?
Wolf has just reiterated he's NOT resigning. NOT. I'm not sure what this post is all about, but it appears quite misinformed.
I saw Wolfowitz at the Bellagio in Las Vegas in the fall of 2003. Prominently missing was any sign of a security detail. If he didn't need it then, why does he need it now? No, wait, don't tell me: the world didn't know then what it knows now which makes Wolfowitz a real security risk.
His nose doesn't seem as long and hooked as I imagined it.
I wouldn't assume that just because Wolfowitz says he isn't resigning, he is going to stay. He likely can't, anyway, the Board will fire him if he doesn't cut a deal. "There's no truth whatsoever to the rumors I'm going to resign" is usually what they're saying right up to the moment of "I want to spend more time with my family." It wouldn't exactly be the first thing he's lied about.
I ask myself how I would expect to be treated had I behaved like Wolfowitz. Do I expect anyone to ever just give me $400 thousand and "call all things even" after I have been caught behaving as deceitfully as Wolfowitz?
He deserves to have the book thrown at him. He should have to pay some money back to us taxpayers. Then let him go out and get a job where he has to earn his money like most of the rest of us.
I'm interested to hear more about Kevin Kellems' activities. He's a former aide to Cheney who moved over to the WB when Wolfowitz became its president.
Five meeellion dollars for a 'security detail'? Hm. That's a lot of security... or a lot of very elaborate security theater. Who got the contract?
If he really had any feeling for the woman, he would have said "No, thank you," and slunk off to the American Enterprise Institute or some other such swamp.
Now she's damaged goods, and can probably never get a decent job for the rest of her life.
"Both sides have threatened each other with slow, painful, drip-drip approach to the release of damaging information that each side has about the other."
Speaking as an unreconstructed leftist who hates the World Bank and the poverty pimps who run it almost as much as I hate Wolfowitz and his fellow war criminals, all I can say is: "Bring it on"!
This is like Saddam's Iraq versus Khomenei's Iran. Too bad they can't both lose. But if Clemons is right, maybe they can!
Paragraph 17 of the New York Times states that the ethics committee he consulted about his girlfriend never gave him clear guidance about what he should do about the situation. Read Opinionjournal.com for the real facts about how Wolfowitz is getting railroaded.
Just because he wants 70% of the workers to work in the field instead of visa versa and he wants lifetime employment eliminated means nothing to the left. He is a good bank president who has pissed off some Europeans. Get over it.
Wolfowitz has been dragging this entire affair (by affair I mean the ethics faux pas with the World Bank, not his love affair with his girlfriend) on forever, all in the name of keeping his name clear. He should've thought of that before getting involved in the whole issue.
The Wall Street Journal has a good video analysis of the situation:
Wolfie's audacity is quite remarkable. But it is also this audicity that has gotten him to the higher echelons he has achieved. It is a pity that his impending fall is of such embarrassment. Or perhaps it's too immature to say "fall". I wouldn't be surprised if Wolfie went on to a much more lucartive deal-people like do seem to land on their feet.





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