A local official of the Socialist party claimed that Strauss-Kahn had attacked her daughter, who is goddaughter to Strauss-Kahn's second wife, in 2002.And of course the conspiracy theories, but when none other than Nouriel Roubini is claiming this is a smear job, it says something:
Tristane Banon was in her 20s and writing a book when she approached Strauss-Kahn for an interview in 2002. In a TV programme in 2007, in which Strauss-Kahn's name had been bleeped out, Banon allegedly described him as a "rutting chimpanzee" and described how she was forced to fight him off. "It finished badly … very violently … I kicked him," Banon said. "When we were fighting, I mentioned the word 'rape' to make him afraid, but it didn't have any effect. I managed to get out."
Banon consulted a lawyer, but did not press charges. "I didn't want to be known to the end of my days as the girl who had a problem with the politician."
DSK is innocent until proven guilty. One cannot rule out a setup as a smear campaign against him had started in french press close to Sarko.He is referring to France President Nicolas Sarkozy. Due to this whole incident, Reuters has put out this cool chart showing the operation of the International Monetary Fund:
I will tell you. Look, you have the Charlie Sheen of global finance running the IMF. The seriousness of it is this: He is dead as a presidential candidate in France. Good news for Sarkozy, he's out of the IMF, but more important, this is going to bring a focus on the IMF, which through the back door has been putting the American taxpayers on the hook to bail out Greece and Ireland and those European countries which are in fact bailouts of those European banks. And Ron Paul is right on top of this, and, Joe, I see this as bringing the IMF, at this critical point, when the bailouts in Europe are in big trouble, it is put a limelight on the one institution other than the European Central Bank, which is baling out these European countries and banks."Other big news today as the U.S. has finally reached the debt ceiling and will now rely on two pension funds to cover the debt till August 2nd:
Treasury bill rates were at almost record lows as government authorities curtailed short-term debt issuance to conserve borrowing capacity with the U.S. reaching its federal borrowing threshold of $14.3 trillion.Kudos to Barry Ritholz for this post on The Big Picture highlighting various news articles citing all the battles over the debt ceiling over the years. See this ironic quotation from the New York Times on September 30, 1981:
Ten-year Treasury notes fell as investors sought safety as Greece sought additional bailout funds. Bills remained near record lows as Treasury Secretary Timothy F. Geithner said he has taken action to stave off the federal debt limit until Aug. 2, using accounting measures that involve two retirement funds.
“The Republican-dominated Senate voted tonight by 64 to 34 to raise the Government’s borrowing authority to more than $1 trillion for the first time in history. The vote to raise the debt ceiling, to $1,079 billion, will allow the Government to start its new fiscal year Thursday with sufficient funds in its coffers to pay its bills . . .Other news today (which isn't being reported so much) as China is continuing to rid itself of U.S. treasury holdings:
Although the routine increase in the debt ceiling was essential to meet Government obligations already incurred, the vote is traditionally delayed to the 11th hour, with the minority party accusing the party in power of spendthrift ways.”
Also make sure to check out this video of Jim Rogers being interview by RT America on American debt and foreign policy. As always, Jim Rogers is on point:
For some religious news, see this graph from the New York Times on the wealthiest and most successful religions:
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