Paul Wolfowitz will resign as president of the World Bank, effective June 30. He continued to insist that he behaved ethically while arranging a major raise for his girlfriend, but an internal investigation at the bank found otherwise.


AP via NY Times:

Embattled World Bank President Paul Wolfowitz will resign at the end of June, his leadership undermined by the generous compensation he arranged for his girlfriend.

His departure was announced late Thursday by the World Bank board.

Wolfowitz’s departure ends a two-year run at the development bank that was marked by controversy from the start, given his previous role as a major architect of the Iraq war when he served as the No. 2 official at the Pentagon.

Read more

Wait, before you go…

If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface.  We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.

Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.

Support Truthdig