After a prolonged attempt to remain the president of the World Bank, Paul Wolfowitz has finally agreed to step down in disgrace on June 30th, 2007. The White House said President George W. Bush reluctantly accepted his decision.
U.S. Treasury Secretary Henry Paulson said he would help President George W. Bush in identifying a nominee after consultations with other World Bank member countries. Bodog.com has posted betting odds making Henry Paulson 5.5 to 1 odds to be the American World Bank candidate.
Wolfowitz, best known as the architect of the war in Iraq, was pressured for weeks by European countries into resigning because he gave an improper raise to his girlfriend that worked at the World Bank. Wolfowitz was being accused of a conflict of interest because he was dating Shaha Riza when she was approved for a significant raise while working for the World Bank.
The World Bank board was scheduled to meet to discuss leadership issues which includes selecting a new president.
Bodog.com has posted political betting odds on which American candidate will be chosen to lead the World Bank:
Robert Zoellick: 3/1
Robert Kimmitt: 4/1
Henry Paulson: 11/2
Jim Leach: 6/1
Richard Lugar: 6/1
Stanley Fischer: 3/1
Paul Volcker: 7/1
Field: 2/1
Bodog.com has posted odds on who will be named to replace Paul Wolfowitz as 11th President of the World Bank:
Tony Blair: 6/1
Ashraf Ghani: 5/1
Kemal Dervish: 7/1
Ernesto Zedillo: 8/1
Trevor Manuel: 12/1
Montek Singh Ahluwalia: 11/1
Leszek Balcerowicz: 15/1
Arminio Fraga: 8/1
Bono: 50/1
Any American Born candidate: 5/6
Bodog.com has posted political betting odds on whether the World Bank will break with tradition and appoint a Non U.S. Head of the Bank:
Yes: EVEN
No: -140
