Wednesday, May 25, 2011

Local congresswoman uses IMF scandal to her advantage

Posted on Wed, May 25, 2011 at 3:48 PM

U.S. Rep. Cathy McMorris Rodgers, R-Eastern Washington, said today that recent sexual assault charges against International Monetary Fund Managing Director Dominique Strauss-Kahn have "drawn renewed scrutiny to the powerful organization." 

A longtime foe of using American funds to help relieve the European debt crisis, McMorris Rodgers has renewed her call to avoid a TARP-style program in Europe.

"A ‘Euro-TARP’ is the wrong approach because it's creating a ‘moral hazard’ that will lead to larger counties — particularly Spain and Italy — standing in line for U.S. tax dollars tomorrow. America should have no part in it,” she said in a statement. As such, she announced that she's reintroducing legislation to prevent American contributions to the IMF that are intended for "European bailouts," according to The Hill newspaper.

Strauss-Kahn, who many expected would challenge French President Nicolas Sarkozy this year, is charged with assaulting a woman in New York City. He has been released on bail but is under house arrest in Manhattan. 

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