1. Lagarde to Become Managing Director and Chairman of the IMF
... global economy," Geithner said (Rooney). Lagarde will succeed Dominque Strauss-Kahn, who was recently arrested in New York for sexual assault. Lagarde is the first woman to hold this position and was selected by a consensus vote (Rooney), "I am deeply honored have the trust placed in me by the Executive Board. I would like to thank the Fund's global membership warmly ... same spirit," said Lagarde (Rooney). The fund was originally established in 1947 to aid failing economies in the aftermath of World War II. Currently, the IMF controls monetary cooperation and exchange rate stability, as...
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