208 days ago
208 days ago
In addition to the $1 million bail, Strauss-Kahn will be required to take out a $5 million insurance bond as well as being confined to house arrest under armed guard as he awaits trial on attempted rape. New York prosecutors allege that on May 14th Strauss-Kahn forced a maid at the posh, $3000 a night, Sofitel hotel in Manhattan to perform oral sex on him. The maid allegedly fought back and escaped as Strauss-Kahn tried to proceed further. The ex-IMF chief was hauled off an Air France flight two minutes before it was due to take off and taken into custody by the NYPD. In an interesting twist, the Sofitel and subsequently the NYPD were alerted to Strauss-Kahn’s “travel plans” when he called the hotel from the airport to report the fact that he had forgot his cell phone in his room.
The political wrangling over who will succeed Strauss-Kahn at the IMF already has begun. European officials, including Germany's chancellor, the European Commission and France's finance minister, have argued that his replacement should be a European. Some authorities from China and Brazil have said it is time to break Europe's traditional dominance over the position and appoint someone from a developing nation.
XTS Stance- Although we are in no way qualified to suggest who should replace Strauss-Kahn as head of the IMF, it seems reasonable to argue that a non-European could also be qualified to oversee the workings of the GLOBAL economy. For 61 years the IMF has been an all white, all European, all boys club (with the exception of a three month stint in 2004 where Ann Osborn Krueger, also white, served as temporary Managing Director).
Many have argued that the real purpose of the IMF is to channel taxpayer dollars to politically connected companies. From third-world construction projects to commodity extraction to bailouts, the beneficiaries of the IMF’s largess (in the form of risky, low-interest loans) are the multi-nationals. It seems fair to think that if Europeans and Americans can screw over developing countries in lieu of political and economic gain, elitist economists from developing countries should also get a crack at it.
On a side note; if there are any future felons out there trying to flee a country it might be in your best interest to just say “fuck the cell phone.” Just a thought…
