Silver standard

When you get as old as I am, you start snickering at the phrase “younger woman”: aren’t they all younger women? Of course not. But I’m long past the point where anyone over 29 seems to have gone to seed.

Of course, it helps if you’re in a position to take care of yourself, as is Christine Lagarde, sixty-one, managing director of the International Monetary Fund, now in her second term despite this little contretemps:

From 1993 to 2008 there was a long legal battle between [Bernard] Tapie and the Crédit Lyonnais bank (partly state-owned bank). Crédit Lyonnais had allegedly defrauded Tapie in 1993 and 1994 when it sold Adidas on his behalf to Robert Louis-Dreyfus, apparently by arranging a larger sale with Dreyfus without Tapie’s knowledge.

In 2008 a special judicial panel ruled that Tapie should receive compensation of €404 million from the French Ministry of Finance, headed by Christine Lagarde. She decided not to challenge the ruling. On December 3, 2015, a French court ruled that Tapie should return this compensation with interest. A few days later, the Court of Justice of the Republic ordered that Lagarde should stand trial for negligence. On December 19, 2016, Lagarde was convicted of negligence; however, the conviction was not deemed a criminal record and Lagarde was not sentenced to a punishment.

The US has been supportive of Lagarde, who has been something of a hardliner in office, but only to a point: for example, as Greece circled the drain in 2015, she called for massive debt relief, but when concrete plans for such relief were not forthcoming, she subsequently declined to assist the Eurozone.

Behold the hardliner:

Christine Lagarde on the rise

Christine Lagarde in silver

Christine Lagarde stretches out

Looking for brief samples of her voice, I stumbled across this AP squib from the IMF spring meetings — not quite a minute and a half — in which Trump administration Treasury Secretary Steven Mnuchin complains about the US tax code.

I think she just might be sympathetic to the cause.

2 comments

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