Were big changes in global banking afoot? It seems quite possible.
Dominique Strauss Kahns timely arrest may have had more then one beneficiary.
Monsieur Sarkozy would of course benefit from the disgrace of Dominique Strauss Kahn.
There is yet another curious intrigue to be looked at. A twist in the tale of...
The temporary appointment of John Lipsky, former head of the US treasury and previous JP Morgan bankster, might just be the signal of a planned for change.
I covered some of this in yesterday's post- here.
(interesting comments too)
Apparently the US did not want a European at the head of the IMF!
Let's read together.
The parlour game had begun well ahead of the charges, which Mr. Strauss-Kahn denied and will fight in court.
The shifts in the global economic power structure seemed to prelude an end to the practice of giving the IMF’s top job to a European.
Under Mr. Strauss-Kahn, the IMF overhauled the way it allocates voting shares. China vaulted over nations such as Britain, Germany and France to become the third-biggest shareholder after the United Sates and Japan. The clout of former European powers such as Belgium was seriously curbed in favour of rising powers such as Brazil.
But something happened on the way to this new world order: the European debt crisis. The buzz at the spring meetings of the IMF in Washington last month was that the European powers were no longer keen to cut their special link to the fund, which is a key player in the rescues of Greece, Ireland and Portugal. With the so much of the fund’s current activity in Europe, the thinking was that a European should remain in charge.
BUT, the U.S. might not be willing to play along.
Lipsky's temporary appointment has already usurped the European postion at the IMF.
While Europe gets to choose the head of the IMF, the U.S. gets to choose the No. 2 at the fund and the president of the World Bank.
Colin Bradford, a non-resident senior fellow at the Brookings Institution in Washington who studies international governance, says he’s become less confident that the Obama administration is ready to give up its privilege of ensuring Americans serve in senior positions at the institutions.
The names being tossed around as replacements are
Kemal Dervis, a former Turkish finance minister and World Bank official.
Simon Johnson, a professor at the Massachusetts Institute of Technology and a former chief economist at the IMF, told -- http the Financial Times that the Bank of Mexico's Agustin Carstens would make a good candidate.
Another oft-sited name is Montek Singh Ahluwalia, deputy chairman of India’s planning commission.
There is one woman French Finance Minister Christine Lagarde mentioned, but if the Europeans are not to be at the helm of the IMF , that seems doubtful.
Bringing up the rear is Mark Carney from the Bank of Canada, a former Goldman-Sachs man.
Not so long ago Mark Carney hired another bankster, former Goldman-Sachs man Timothy Hodgson, to serves as a special adviser. Timothy Hodgson could quite easily replace Mark Carney, should he move on up.
What is presented is so different then what goes on behind the scenes
"Raping- Part of the IMF Business"