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Wolfowitz Will Get $325,000 in Severance Pay! ------>>>

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Stephanie Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:06 AM
Original message
Wolfowitz Will Get $325,000 in Severance Pay! ------>>>

As per the WSJ reporter on Washington Journal just now. That's one year's salary, after just two years on the job. The reporter didn't know what else might be included in his severance package. WTF?


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lynnertic Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:07 AM
Response to Original message
1. He probably owes more than that in attys fees.
Working in Washington is expensive!

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trotsky Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:09 AM
Response to Reply #1
5. Oh yes, Wolfy did it out of the goodness of his heart.
As do Bush and Cheney and all the crooks. :eyes:
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EstimatedProphet Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:08 AM
Response to Original message
2. Asinine, but at least we're rid of him.
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Enrique Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:08 AM
Response to Original message
3. now he can get some new socks
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Ganja Ninja Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 10:36 AM
Response to Reply #3
29. And get the oil changed in that suit. n/t
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Captain Hilts Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:09 AM
Response to Original message
4. Sweet deal! nt
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quiet.american Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:09 AM
Response to Original message
6. Frankly, I'm surprised he didn't get something like $400 million.
I hope there's some justice in the world, though, and that eventually Wolfowitz will be held to account in a court of law and will get what he truly deserves.
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tabasco Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:09 AM
Response to Original message
7. Such a travesty. This is our tax dollars by the way. n/t
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Stephanie Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:17 AM
Response to Reply #7
12. U.S. gives $1 billion/year
Edited on Fri May-18-07 09:17 AM by Stephanie
The World Bank's initial job was to finance reconstruction in Europe. The Marshall Plan rendered that task superfluous, so the bank--in the first of several reinventions--moved on to bankroll development in other countries. The idea was to lend to governments that were creditworthy but had no access to rich-country capital markets. "Now we live in a world where there are huge global capital markets, where, if anything, investors are too willing to invest in developing countries," says Adam Lerrick, a former investment banker who teaches economics at Carnegie Mellon University. The World Bank's net lending has plummeted over the past few years, even as it keeps shopping loans to the likes of Brazil, Turkey, Russia and China, sometimes on hugely generous terms.

This is the work of the biggest part of the World Bank, the International Bank for Reconstruction and Development. Member countries make deposits (the U.S. share is $2 billion down and $30 billion pledged); the bank sells bonds backed by those deposits and pledges, then lends the money out at a small profit. The other main arm of the World Bank, the International Development Association, gets regular infusions of cash from rich countries and lends funds on near giveaway terms to truly poor countries, mostly in Africa (the U.S. contribution is just under $1 billion a year, or 0.04% of federal spending).

http://www.time.com/time/magazine/article/0,9171,1617526,00.html
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malaise Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:18 AM
Response to Reply #7
14. Actually Europe contributes more to
the WB.
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bdamomma Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:56 AM
Response to Reply #14
23. why can't Europe pick the next appointee.
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malaise Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 10:22 AM
Response to Reply #23
26. Tradition
but if they had fired his ass they would have been able to appoint the new man.
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KharmaTrain Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:25 AM
Response to Reply #7
17. 325k Is Wasted in 10 Seconds in Iraq
It probably was just dropped on some village. But if this gets one of the bloodies of the war criminals out of World Bank and puts him one step closer to being hauled to the Hague and to be tried as the real war criminal he is, it's money well spent!
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Atman Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:10 AM
Response to Original message
8. He also got WB to take partial responsibility for allowing him to hire his girlfriend
...and to issue a statement saying he was actually an effective leader. Gotta love it, eh? Cheney's NSA spying program must have far-reaching tentacles. They've intimidated everyone on the planet. You can be sure Wolfie will use this the same way Oliver North tries to claim he was never convicted of any wrongdoing merely because of a technicality. Wolfie will say "I was never fired! The board took responsibility for the hiring, and they even issued a statement saying I was a very effective leader!" He'll be on the payroll of some other megacorp before the ink is dry on his pink slip.

.
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asjr Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:11 AM
Response to Original message
9. Wow! Being ugly really pays off.
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rocktivity Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:15 AM
Response to Original message
10. A very small price to pay
considering the alternative could have benn the U.S. being deprived of the ability of picking Wolfie's successor. Besides, all big-bucks execs have contract buyouts as part of their severance arrangements. It doesn't sound like he's getting anything over and above that.

:headbang:
rocknation
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Kagemusha Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:15 AM
Response to Original message
11. Wolfowitz' contract says he's entitled to one year's salary severance.
The board clearly is far more concerned about the damage to the institution than money that they have already contractually signed away.
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KharmaTrain Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:18 AM
Response to Original message
13. Bob Bennet Says Thank You Very Much
That's Bettamillion Bill's brother...the hired gun who defended Clinton and handled Wolfie's "graceful exit" :puke:

Wanna bet his per diem is more than we all earn in a year.

As always, the big winner in any beltway scandal...the lawyers!
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Dr.Phool Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:21 AM
Response to Original message
15. Does his sweetie pie get to keep her job,
Along with her unfettered access to the State Dept?
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Botany Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:21 AM
Response to Original message
16. I see some German bankers saying ...
.... "Ja das ist nich so gut but it will get his ass out of here ....
fine pay him. Auf Wiedersehen Herr Scheiekopf."
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AndyA Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:32 AM
Response to Original message
18. With all that money, you'd think he could afford a trip to a spa where
he could get a decent haircut, and have those stray eyebrows plucked.

He probably has a hair bush growing in his ears.

The man is repulsive in every form of the word, and is a perfect example of EVERYTHING wrong with America today.
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bdamomma Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:55 AM
Response to Reply #18
22. he got what he wanted exactly. he should be able to buy some
new socks!!
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dave_p Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:47 AM
Response to Original message
19. Wanted: Wolfie Windfall Tax
Mission NOT Accomplished.

Take it all back. It's incompetence profiteering. He can pay along with Halliburton &c.
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Venus Dog Donating Member (419 posts) Send PM | Profile | Ignore Fri May-18-07 09:49 AM
Response to Original message
20. Actually, in that world, it's like giving him a $.01 tip!
It's actually a pittance really - an insult!
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Stephanie Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 10:34 AM
Response to Reply #20
28. I wish someone would insult me like that!
Go ahead, insult me!
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bdamomma Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 09:53 AM
Response to Original message
21. that is what he was counting on. greed and abuse of power
is the name of the game for these thugs.
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partylessinOhio Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 10:05 AM
Response to Original message
24. 'Ho man will be more than well taken care of - I'm sure he will be
promoted to an even more lucrative position.

There is no justice when it comes to these crooks and their 'ho girlfriends.

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partylessinOhio Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 10:10 AM
Response to Original message
25. Duplicate post - removed.
Edited on Fri May-18-07 10:12 AM by partylessinOhio

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ncrainbowgrrl Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 10:22 AM
Response to Original message
27. That will buy a whole lot of combs.
One for every interview...
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deutsey Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 10:55 AM
Response to Original message
30. Ah, the sweet smell of justice...
:sarcasm:
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bklyncowgirl Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-07 11:19 AM
Response to Original message
31. Where have I gone wrong? Maybe I should become a Republican.
Seriously, the guy used to position to enrich his girlfriend--definately a no no any way you put it. The World Bank couldn't fire his ass without pissing off Bush so Wolfie gets to walk with an "all is forgiven" statement from the bank plus $325,000 to just go away.

If you or I did that we'd out on the street in a heart beat.
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