Wolfowitz deputy to resign

Kevin Kellems, an adviser to Paul Wolfowitz who was highly unpopular at the World Bank, is planning to resign ahead of rumors that the ad hoc committee set up to investigate the Bank president is expanding its inquiry to include Kellems' salary arrangements. Meanwhile, in Latin America, Hugo Chávez hasn't skipped a beat and is ...

Kevin Kellems, an adviser to Paul Wolfowitz who was highly unpopular at the World Bank, is planning to resign ahead of rumors that the ad hoc committee set up to investigate the Bank president is expanding its inquiry to include Kellems' salary arrangements.

Kevin Kellems, an adviser to Paul Wolfowitz who was highly unpopular at the World Bank, is planning to resign ahead of rumors that the ad hoc committee set up to investigate the Bank president is expanding its inquiry to include Kellems' salary arrangements.

Meanwhile, in Latin America, Hugo Chávez hasn't skipped a beat and is apparently using the scandal to drum up anti-Washington sentiment—as if Venezuela's stridently anti-U.S. leader needed an excuse. Last Monday, Chávez announced he was pulling out of the World Bank and the International Monetary Fund, two international financial institutions that make great fodder for leftist politicians eager to whip up populist sentiment. And this weekend Chávez threatened to nationalize U.S.- and Spanish-controlled banks and an Argentinian steel company. The Financial Times' Richard Lapper believes that Chávez needs the banks to control inflation and that therefore he's not likely to seize them anytime soon. And yet, rational behavior isn't exactly what Hugo Chávez is known for, right?

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