Breaking News:
Washington D.C. (RBN) – Paul Wolfowitz is stepping down from his position as head of the World Bank effective immediately. In a press statement the White House thanked Wolfowitz for his personal achievement of bringing the World Bank to the same ethic level the President and his staff are proud to hold on to.
Wolfowitz will be remembered for his energetic fight against corruption. As he expressed in a speech in October 2005: "Perhaps the most important is leadership with accountability.
Corruption benefits the privileged and deprives the poor, draining
resources and discouraging investment."
President Bush is expected to nominate Douglas J. Feith to succeed Wolfowitz. Feith is currently teaching at Georgetown University.
A senior administration official described Feith as "committed to development" and "a compassionate, decent man." He added that as No. 3 at the Pentagon, Feith had demonstrated skill for managing a large institution and was "without question one of the most brilliant individuals in government."
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