World Bank chief finds a hole in his sock budget

By Mark Rice-Oxley

As head of the World Bank, Paul Wolfowitz presides over an institution that dishes out billions of dollars each year in loans. But when it comes to his own wardrobe, the budget numbers are very different and apparently a little, well, threadbare.

All was going well enough for the former US deputy defence chief and Iraq war enthusiast during a trip to Turkey this week. The country, a heavy borrower from the bank's coffers, has long since turned the corner from the years of financial meltdown and Wolfowitz noted that it had made good progress in patching up its economy.

In this combo picture, World Bank President Paul Wolfowitz, with holes in his socks, is seen as he leaves from the Ottoman era Selimiye mosque in Edirne, western Turkey, Sunday, Jan. 28, 2007. Wolfowitz was in Turkey for a-two-day official visit. AP

The same unfortunately could not be said about his socks.

Slipping off his shoes during a visit to a mosque in Edirne, north-west Turkey, the original neocon was apparently as aghast as anyone else to see his toes peeking out of holes in both socks. Stoically, he forged on, not bothering to try masking his sartorial inadequacies with some deft toe-work. "I guess it just shows that I am not a typical banker," he reportedly told a Turkish journalist.

The Washington Post found it all most amusing, asking: "Would you take fiscal advice from a man who won't spend $3 for new socks?"

The episode was greeted with glee by Mr Wolfowitz's chief blogger detractors, prompting all kinds of jokes about hammer toes, fiscal conservatism and holes in policy. "Apparently other things besides his Iraq strategy have holes," wrote one.

- Courtesy The Guardian, UK