Kerry made this statement on the heels of news reports that the Pentagon leaned on private contractors to hire Wolfowitz's girlfriend Shaha Riza in Iraq - at the same time Wolfowitz was working as Deputy Secretary of Defense. Larger questions have been raised about Wolfowitz and his role as World Bank President, where he arranged pay raises and promotions for Riza, an obvious conflict of interest. Kerry opposed the nomination of Wolfowitz to the World Bank in 2005.

Below is Kerry's statement:

"Paul Wolfowitz should resign. The cloud that hangs over his tenure at the World Bank is entirely self-inflicted and it jeopardizes its vitally important mission" Senator Kerry said. "As a champion of anti-corruption measures, Mr. Wolfowitz must hold himself to the highest standards of personal conduct. He failed to do so. He has lost the confidence of his colleagues at the World Bank, and with it his ability to govern effectively. It is time for new leadership.

"I've had grave concerns about Paul Wolfowitz's judgment and ability to lead since 2003, when he was one of the chief architects of the war in Iraq. As Deputy Secretary of Defense, his miscalculations and lack of proper planning resulted in our troops being placed at greater risk and contributed significantly to the disaster that has unfolded in Iraq. Now he has brought to the World Bank the kind of cronyism that has become engrained in Washington. Paul Wolfowitz never should been rewarded with the responsibilities of the World Bank in first place."

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