Dominique Strauss-Kahn, the embattled managing director of International Monetary Fund, resigned Wednesday, saying he wanted to devote "all his energy" to battle the sexual assault charges he faces in New York.
The IMF's executive board released a letter from the French executive Wednesday in which he denied the allegations lodged against him but said that with "sadness" he felt he must resign. He said that he was thinking of his family and that he wanted to protect the IMF.
Lawyers for the head of the International Monetary Fund say Dominique Strauss-Kahn will fight the charges that he sexually assaulted a housekeeper at a luxury Manhattan hotel. The Frenchman remains in custody after a judge denied his request for bail.
The head of the International Monetary Fund, Dominique Strauss-Kahn, was arrested over the weekend in New York on suspicion of attempted rape. The charges relate to an assault on a chamber maid at a New York hotel. Strauss-Kahn, who denies all the charges, had been expected to run for president of France.
President Obama will be in upstate New York today touring a General Electric factory and showcasing that company's successes. Mr. Obama just named GE's chief executive the head of a new panel on jobs and competitiveness. GE boss Jeff Immelt has been speaking about the need to focus on manufacturing and increase the country's exports.