IMF Taps John Lipsky to Replace Strauss-Kahn

Mere hours after Dominique Strauss-Kahn, managing director of the International Monetary Fund, was pulled off a plane in Manhattan Saturday night and arrested, according to a police spokesperson, “on charges of criminal sexual act, attempted rape, and an unlawful imprisonment in connection with a sexual assault on a 32-year-old chambermaid in the luxury suite of a Midtown Manhattan hotel [Saturday],” the IMF has named John Lipsky its acting managing director. Lipsky was the IMF’s first deputy managing director, so his promotion falls in line with IMF procedures, according to an IMF spokesman. A former banker at JP Morgan, Lipsky had been overseeing the logistics of the Greek economy’s bailout. Strauss-Kahn, meanwhile is still awaiting arraignment on the charges in Manhattan. He was expected to challenge Nicolas Sarkozy as the Socialist candidate for the French presidency.