If the World Bank's board had applied the same kind of "due diligence" to Paul Wolfowitz that they purport to apply to major development projects, they might have uncovered a significant conflict of interest that could have led them to rethink their embrace of the architect of the Iraq war.
Just consider his role in the U.S. occupational authority's (CPA) looting of the Iraqi people's oil revenues to pay off well-connected crony contractors like Halliburton. As president of the World Bank, he will be in a position to quash an important related investigation.
The president of the World Bank is a leading member of the International Advisory Monitoring Board (IAMB) -- a multilateral organization established by U.N. Security Council Resolution 1483 in May 2003. The IAMB's principle mission is to oversee U.S. stewardship of the Development Fund of Iraq (DFI), the successor to the Oil-for-Food Program.
Despite delays and efforts by the Bush administration to obstruct their work, the IAMB's auditors have so far uncovered significant financial abuses. More worrisome for Wolfowitz and the Bank is the potential for the investigation to lead up the Pentagon's chain-of-command to Wolfowitz himself.
http://www.alternet.org/story/21659/