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Friday, April 13, 2007

Sex, Power and Money

Sex, power and money are a heady combination; as any seasoned politician, member of the media or hooker will tell you.

Paul Wolfowitz, Head of the World Bank, has also learnt of the power of such a combination.

His position within the World Bank now looks untenable, as he was publicly booed and heckled by his own staff at a meeting, and forced to leave.

His crime?

Wolfowitz personally intervened to obtain a pay rise for his girlfriend, Shaha Riza, who works at the bank. he got her a nice little earner from $132,660 to $193,590 tax free.

Aside from the obvious ethical issues surrounding the merits of this pay rise, the bank rules actually forbid couples from working together.

Ironically Wolfowitz, who was an advocate of the Iraq war when he was Deputy Defence Secretary for President Bush (who appointed him to the bank), is a strong advocate for tough rules on corruption and corporate governance.

He has forgotten the cardinal rule, lead by example. Those at the top of an organisation must not only be ethical, but must be seen to be ethical.

He will be out of office by the end of the day.

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