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Published On: Sun, Dec 20th, 2015

IMF Chief Lagarde to Stand Trial

puerto-rico-IMF-300x157TND Guest Contributor: Stephen Lendman
Charges are unrelated to her greatest crimes – representing the US-controlled IMF and Western monied interests at the expense of beneficial social change.
The agency is a bandit operation, the loan shark lender of last resort, force-feeding economic and financial harshness on nations in return for loans – followed by new ones needed to pay debt service, an endless cycle of debt peonage, monied interests profiting hugely.
Ordinary people suffer greatly as expected. So do debt-entrapped countries, forced to obey harsh IMF diktats – incompatible with social democracy, civil and human rights.
Nations are strip-mined of their resources, material wealth, state enterprises, and other crown jewels – transferred from public to private hands, hollowed out into dystopian backwaters, their people able to have jobs transformed into serfs.
Except for the privileged few, the result is the worst of all possible worlds – wracked by extreme poverty, hunger, malnutrition, diseases and early usually painful death.
Washington got Lagarde appointed – to serve as a neoliberal maestro of misery.
Her activities as French finance minister were investigated earlier for serious improprieties – specifically a controversy pitting tycoon Bernard Tapie against the French state.
She issued a beneficial 403 euro arbitration order earlier in his favor, against the government she was sworn to serve.
The French Court of Cassation (its highest judicial body) Attorney General Jean-Louis Nadal earlier ordered the Tapie dossier made public, including allegations indicating Lagarde circumvented the law – to benefit Tapie illegally, overriding an appeals court ruling against him.
A French judicial commission ordered Lagarde to stand trial. She’s charged with negligence in the long-running so-called L’Affaire Tapie. He was ordered to repay his windfall.
Observers called France’s Cour de Justice de la Republique judicial commission ruling last Thursday a surprise. In September, prosecutors recommended things be dropped.
Her legal team issued a statement, saying “Ms. Lagarde would like to reaffirm that she acted in the best interest of the French State and in full compliance with the law.”
She’s appealing the ruling against her. Things could drag on for many months before concluding.
IMF communications director Gerry Rice issued a statement, saying “(t)he Executive Board continues to express its confidence in the Managing Director’s ability to effectively carry out her duties.”
He stopped short of explaining  her mandate is benefitting powerful monied interests at the expense of everyone else.
Expect no interruption in business as usual at the agency she heads – with full US support.

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StevelendmanStephen Lendman lives in Chicago. He can be reached at

Click here for information on his new book (editor and contributor) titled “Flashpoint in Ukraine: US Drive for Hegemony Risks WW III.”  Mr. Lendman’s articles can be read at is blog:  He also hosts the “Progressive Radio News Hour” on the Progressive Radio Network.  His show featuring cutting-edge discussions with distinguished guests and airs three times weekly: live on Sundays at 1PM Central time plus two prerecorded archived programs.

Stephen Lendman was born in 1934 in Boston, MA. In 1956, he received a BA from Harvard University. Two years of US Army service followed, then an MBA from the Wharton School at the University of Pennsylvania in 1960. After working seven years as a marketing research analyst, he joined the Lendman Group family business in 1967. He remained there until retiring at year end 1999. Writing on major world and national issues began in summer 2005. In early 2007, radio hosting followed. Lendman now hosts the Progressive Radio News Hour on the Progressive Radio Network three times weekly. Distinguished guests are featured. Listen live or achived. Major world and national issues are discussed. Lendman is a 2008 Project Censored winner and 2011 Mexican Journalists Club international journalism award recipient.  His other books include, “Banker Occupation:  Waging Financial War On Humanity,” “How Wall Street Fleeces America:  Privatized Banking, Government Collusion and Class War,” and “The Iraq Quagmire: The Price of Imperial Arrogance.

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