The BBC reports that Strauss-Kahn ‘cannot run’ IMF – Treasury chief Geithner

Dominique Strauss-Kahn is “not in a position to run” the International Monetary Fund after his arrest over an alleged sexual assault, US Treasury Secretary Timothy Geithner has said.

Mr Geithner said the IMF’s executive board should designate an interim head.
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Addressing the Harvard Club in New York on Tuesday, Mr Geithner said the most important thing for the IMF was that it found a leader to fill Mr Strauss-Kahn’s shoes.

“He is obviously not in a position to run the IMF,” Mr Geithner said.

“It is important that the board of the IMF formally put in place for an interim period someone to act as managing director.”

[Imagine I’m bending over and saying this very slowly, as one talks to small children] Timmy, the IMF has a deputy chairperson who has already taken over control. They issued a press release and everything. You should also be aware that crime bosses have no problem running their organizations from inside prison, so why should the IMF be any different?

Actually, I would point out that a speech at the Harvard Club is not an official announcement, and anything Timmy said should be considered personal, not official.

Dr Masters continues to cover the flooding and notes:

With the Morganza, Bonnet Carre’, and Birds Point-New Madrid Spillways all open, the Army Corps of Engineers has now opened all of its major spillways simultaneously for the first time ever.
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In Manitoba, Canada, heavy spring snow melt in combination with heavy rains have combined to create record flooding on the Assiniboine River. Authorities intentionally breached a levee over the weekend to save hundreds of homes, but inundated huge areas of farmland as a result. The flood is being called a 300-year flood, and damages are already in excess of $1 billion.

The flood on the Mississippi is the “Project Flood”, the event that the control structures were designed to handle. While things seem to be well in hand at the moment, what happens if the next event is worse? There are no more tools available.

Even with the structures in place, the Coast Guard has halted traffic on the Mississippi at Natchez to avoid any additional stress from the movement of barges. Even bow waves are considered a possible hazard at this point. It is down to waiting for the crest to pass.

Update: The BBC reports Section of flooding Mississippi River re-opens to ships

The US Coast Guard has re-opened a section of the swollen Mississippi River to shipping, after closing it to protect strained flood defences.

The authorities halted barge traffic at the port in Natchez, Mississippi, earlier on Tuesday, warning ship wakes could increase pressure on the levees.

An extended closure could have cost those who rely on the route to transport grain millions of dollars.
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