MSNBC Breaking News: Wolfowitz to Resign

Effective June:

Embattled World Bank President Paul Wolfowitz will resign at the end of June, his leadership undermined by the generous compensation he arranged for his girlfriend...

"He assured us that he acted ethically and in good faith in what he believed were the best interests of the institution and we accept that," the board said in its announcement of his resignation.

His departure was all but forced, however, by the finding of a special bank panel that he violated conflict-of-interest rules in his handling of the 2005 pay package of bank employee Shaha Riza.

Bush's reaction?

"I admire Paul Wolfowitz. I admire his heart, and I particularly admired his focus on helping the poor."

And here is how Wolfowitz "helps the poor":

Under beleaguered President Paul D. Wolfowitz, the World Bank may be scaling back its long-standing support for family planning, which many countries consider essential to women's health and the fight against AIDS.

In an internal e-mail, the bank's team leader for Madagascar indicated that one of two managing directors appointed by Wolfowitz ordered the removal of all references to family planning from a document laying out strategy for the African nation. And a draft of the bank's long-term health program strategy overseen by the same official makes almost no mention of family planning, suggesting a wider rollback may be underway.

Good thing the World Bank rejected it.

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