Alas Poor Wolfy, We Hardly Knew Ye

CHANGE IS GOOD?

That will teach you to try to change up the International Bank for Reconstruction and Development (IBRD)! Ding dong, thewitch is dead. Which witch? The Wicked Witch! Ding Dong, theWicked Witch is dead.The Munchkins are singing and dancing in the halls and well-furnished offices of the IBRD, more commonly known as theWorld Bank. Paul Wolfowitz has been sent packing after a very brief stint as chieftain of one of the biggest boondoggles of US taxpayer money. He took the job, and on the way in, he informed the World Bankas well as the president that his life partner worked there. Rather than having a conflict of interest, the bankworked out a deal whereby Paul’s partner would be givenanother job with career guarantees so that there wouldn’t beany issues going forward. The package that she received as part of the deal to bring Wolfowitz in was pretty rich for her qualifications, as well as the posting. But that’s the point: The World Bank--as well as its other operating divisions, including the International Finance Corporation (IFC)--run on rich budgets with all the perks considered birthrights by the likes of the Forbes 400. Was it really about how she got a deal to step down from her post at the IBRD? Or was it that Wolfowitz was shaking things up a bit too much for those at the bank who wanted to keep their own perks, payoffs and kickbacks many continue to see as normal for the bank? We’ll never know, but we will get another leader appointed byus. (It’s only fair because we, as US taxpayers, contributethe bulk of the funding and capital for the IBRD.)