The plot keeps thickening following the arrest of IMF chief Dominique Strauss-Kahn (known as #DSK on Twitter). Here’s the latest:
- Judge denies bail: Perhaps the biggest shocker outside of the arrest itself is that a Manhattan judge denied #DSK bail, keeping him in jail pending Grand Jury action on the case. Whether this shows that no one is above the law, that the prosecution has a strong case, there was fear he would flee the country creating problems b/c we don’t have an extradition treaty with France, who knows. But it’s a strong statement that the case is being taken seriously by the powers-that-be in NYC. (Source: WSJ)
- DSK faces multiple charges, 25 yrs + if convicted: The charges include several felonies, punishable by 25 or more years on prison. The prosecution indicated that it’s investigating at least one other compliant of a similar nature. (Source: NYT)
- The immunity card won’t fly: While #DSK has immunity for official acts committed within the scope of his job as chief of the IMF, that doesn’t translate into full diplomatic immunity. (Source: CNBC).
Here are some thought-provoking links:
- Bill Gross on #DSK & Greece default: Gross believes that Greece is the most likely candidate for default, that the IMF will continue without #DSK and that his lieutenant Mohamed El-Erian is not a candidate to replace #DSK (From Business Insider).
- #DSK Profile: Some background on #DSK, who until yesterday was expected to run for President of France on the Socialist ticket; he’s been criticized for his luxurious lifestyle (From AlJazeera English).
- #DSK and Global Capitalism’s Heart of Darkness: a fabulous piece about the domination of the IMF by the West and the oppression of the developing world, in a context of violence against women (via New Deal 2.0)
- Will #DSK’s arrest break the EU/US power axis: Jim Rickards touts the credentials of Brazilian Arminio Fraga to take over from #DSK and break the IMF leadership domination. If not Fraga, he suggests a leader from Japan, South Korea or Egypt, all outside of the EU/US axis (from CNBC via @Ian_Fraser).