Tapie to undo Lagarde

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When she walks into the room, people take note of her. At six feet tall, she?s an imposing figure who favours well-cut suites, speaks perfect English and boasts negotiating skills honed during 24 years as a corporate lawyer, six of them as Chairman of Baker & McKenzie, an international law firm in Chicago.

Sometimes she can be glimpsed doing leg lifts and ankle flexed under the conference table. Which? is a reminder that she is a former champion synchronized swimmer, who stays in shape by doing laps and yoga.
Is this enough? However a scandal on Lagarde has already blown the top.

Tapie Episode

Lagarde,? still may face a legal setback of her own. A French court is considering whether to investigate if Lagarde abused her power in 2007, when she sent a case involving a supporter of French President Nicolas Sarkozy to arbitration. Her action resulted in a 385 million-euro ($559 million) award to businessman Bernard Tapie, who was once a minister in a Socialist French government. Lagarde has denied wrongdoing.

Segolene Royal the president of the Poitou-Charentes Regional Council and a prominent member of the French Socialist Part was interviewed by? Economics newspaper regarding the Tapie Case and the implications.

Segolene Royal was asked that ?clarifications? are made on the ?lametable? Tapie affair prior to the appointment of Christine Lagarde at the head of the IMF, to avoid a ?second scandal, which would be ?a blow fatal? for France. ? It should not be a second scandal to head the IMF, because there, frankly, for France would be a fatal blow? said the Socialist candidate.

First, there are clarifications to make, since ?they say there are things that are not very clear in the sad story of Bernard Tapie, who forced the French taxpayers nearly $300 million. These are the French taxpayers who paid , at the end clearly an irregular procedure, which remains to be demonstrated, said Segolen Royal. ?

She also noted that Christine Lagarde Minister of Economy was ?nothing has been done to thwart the power of abuse of banks, financial speculation, bonuses for trader? For her Ms. Lagarde has absolutely nothing to give fair rules. If it is to reign as head of the IMF the same voracity bank, the same slip-bank, the same logic that led to the collapse of the financial system and this to the economic crisis. I think that is not a good omen,? she said.

The court will decide on July 8 whether to proceed with an investigation or close the file.

Source: The Economic Tomes, Wall Street Journa

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