Imf Rudderless While 'europe Is On Fire'

[Mr Lee]

With most of the world in trouble, this probably could not have come at a worse time. The shock arrest of the head of the International Monetary Fund may force the world's power brokers into a frantic search to find his replacement. Hours after New York police charged Dominique Strauss-Kahn with the sexual assault of a hotel maid, the IMF said it had appointed John Lipsky, the fund's No. 2, to the position of acting managing director. At a hearing on Monday in New York City, a judge said Strauss-Kahn would remain jailed at least until his next court hearing. The judge set May 20 as the next date for the case. Prosecutors had asked the Manhattan judge to hold Strauss-Kahn without bail. His attorneys had suggested that prosecutors set $1 million bail and promised the IMF managing director would remain in New York City.Link to the complete story HERE