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IMF's Lagarde Flat Raided Over French 'Payout' Probe

Tyler Durden's picture


In a follow-up to investigations over alleged wrongdoing surrounding a EUR285mm payout by the then French finance minister and now IMF head, The Telegraph reports, Christine Lagarde's Paris flat has been raided. The fresh (if you're an orange) faced IMF Chief, of course, denies any wrongdoing in the case of a huge 2008 compensation payment to businessman supporter of ex-President Sarkozy. On the bright side, at least there were no indiscretions in hotel rooms involved (yet it seems she is following in the strong footsteps of her predecessor DSK - how can we not trust these people?)


Via RT,

The Court of Justice of the Republic ordered a probe into the case under the suspicion that Lagarde had committed an abuse of power by releasing the funds to Tapie. The then socialist opposition alleged that Nicolas Sarkozy’s government was rewarding the businessman Tapie for his support during the 2007 elections.


Via The Telegraph,

French police raid IMF chief Christine Lagarde's flat in Bernard Tapie probe


French authorities have searched the Paris flat of IMF chief Christine Lagarde as part of an investigation into her handling of a 2008 compensation payment to a businessman supporter of ex-president Nicolas Sarkozy, her lawyer said.


Police are investigating claims that Lagarde, when French Finance Minister under Nicolas Sarkozy, acted illegally in approving the €285m arbitration payout to Bernard Tapie.


Lagarde denies any wrongdoing.


"This search will help uncover the truth, which will contribute to exonerating my client from any criminal wrongdoing," Lagarde's lawyer, Yves Repiquet, told Reuters.

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Wed, 03/20/2013 - 09:20 | 3351804 SeverinSlade
SeverinSlade's picture

Rumor is that the Cyprus bank levy wasn't Socialist enough. 

Wed, 03/20/2013 - 09:21 | 3351809 Pladizow
Pladizow's picture

Perhaps Domonic Stauss-Kahn is being hid beneath her bed?

Wed, 03/20/2013 - 09:24 | 3351818 The Juggernaut
The Juggernaut's picture

Sadly, they only found double sided dildos and anal beads.  Oh and of course receipts and weird black and white aerial pictures of countries with red "X"'s through them...

Wed, 03/20/2013 - 09:29 | 3351858 azzhatter
azzhatter's picture

and those belong to Sarko

Wed, 03/20/2013 - 10:03 | 3351973 Popo
Popo's picture

Oh come on.  It's pretty clear that Christine Lagarde hangs out with Angelo Mozillo.  

...there's an Orange Crush joke in there somewhere...

Wed, 03/20/2013 - 10:05 | 3351985 Pinto Currency
Pinto Currency's picture


The IMF coercing Cyprus was a Euro take-down move.

That's a no-no.

Guaranteed to have visitors after that.

Wed, 03/20/2013 - 10:09 | 3352003 Bastiat
Bastiat's picture

Intriguing comment-please expand.

Wed, 03/20/2013 - 10:21 | 3352028 Pinto Currency
Pinto Currency's picture


See ZH and other websites.

The IMF was prime driver of the take from Cyprus bank accounts.

You have fractional reserve banking in the Euro zone - short equation from there.

Also affront to KGB/Russia by attempt to take Russian funds; destabilizing action by IMF.

Wed, 03/20/2013 - 10:25 | 3352069 Bastiat
Bastiat's picture

What was the IMF up to?  Desperate and dumb?

Wed, 03/20/2013 - 12:06 | 3352443 blu
blu's picture

Why would the Eurogroup members go along with an IMF gambit to blow up Eurozone fractional reserve banking? Interesting, but I'm not ready to buy.

The explanation that Germany is after a pound of flesh makes more sense, given that Cyprus is essentially a Russian mafia tax haven and base of operations and everyone knows it. I think they were willing to risk a bank run to force Cyprus to go to their Russian masters for operating funds.

Sleep with dogs, wake up with fleas, as they say in the old country.

Wed, 03/20/2013 - 12:46 | 3352644 Pinto Currency
Pinto Currency's picture


Interesting theory.

Why are the French police going through Christine's dirty panties?

Wed, 03/20/2013 - 13:16 | 3352814 blu
blu's picture

The timing is indeed suspicious.

Let us assume that contrary to expectations the IMF is not welcome at this party.

The IMF is the US and TheFed, afterall, and can be expected to broadly represent US strategic interests abroad. I wonder if the US would have looked with extreme disfavor on the Germans turning petty (in the run-up to German general elections) and going at it hammer-and-tongs with the Cypriots when the Russians are lurking around. We get the sense now that going after savings has forced Cyprus into negotiating with the Russians, who certainly have some interest in Cypriot mineral rights and naval bases. The US State Department is probably having an aneurysm about now.

If the IMF has been behind the scenes the last few days hitting the Germans and French with the idiot stick, then I can see the IMF head having her panties raided as a return favor.

So much conjecture, so little substance.

Wed, 03/20/2013 - 14:15 | 3353146 Pinto Currency
Pinto Currency's picture


A bit to much of Occam's rubber mallet for me.

Wed, 03/20/2013 - 14:16 | 3353154 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

More like a rubber chicken at this point.

Wed, 03/20/2013 - 16:44 | 3353929 OpenThePodBayDoorHAL
OpenThePodBayDoorHAL's picture

It's fun to pretend that there is some kind of uber-conspiracy behind all this. More likely is that the EU and IMF had no friggin' clue that the actual people might mind having their bank accounts confiscated. I mean these are just absolutely clueless bureaucrats, just take a look at Von Rompoy for example. Do you think he has ANY chance of understanding any of this? Just bumbling bureaucrats just like BenB, sitting there with their textbooks and formulas.

Wed, 03/20/2013 - 20:15 | 3354647 Pinto Currency
Pinto Currency's picture


Yes that's the MSM story.

And Lagarde had her flat raided because she's a bumbler.

Or she could be an interloper.

Wed, 03/20/2013 - 11:27 | 3352281 Agent P
Agent P's picture

I heard they had a baby together and they named him John Boehner.

Wed, 03/20/2013 - 17:07 | 3354029 waterhorse
waterhorse's picture

lol on the orange crush - I was thinking more along the lines of "Agent Orange".  These two lizards and their other good buddies obliterated the economy.

Wed, 03/20/2013 - 09:31 | 3351864 GetZeeGold
GetZeeGold's picture



They sent a couple investigators down into the dungeon.....no word from them yet.

Wed, 03/20/2013 - 10:10 | 3352007 resurger
resurger's picture


Wed, 03/20/2013 - 09:40 | 3351888 aint no fortuna...
aint no fortunate son's picture

Larry Mother Fucking Fink is bullish on her, that's all you need to know

Wed, 03/20/2013 - 11:46 | 3352357 Buck Johnson
Buck Johnson's picture

No kidding, also it goes to show you that most if not all the EU is a big operation to fleece the countries.

Wed, 03/20/2013 - 09:23 | 3351825 magpie
magpie's picture

does this also mean she is secretly running for president

Wed, 03/20/2013 - 09:26 | 3351844 GolfHatesMe
GolfHatesMe's picture

Isnt she speaker of the House?  Can't tell the difference

Wed, 03/20/2013 - 09:30 | 3351860 azzhatter
azzhatter's picture

you mean that's a woman?

Wed, 03/20/2013 - 09:56 | 3351940 BandGap
BandGap's picture

Queen of the Oooompa Looompas

Wed, 03/20/2013 - 10:03 | 3351976 Freewheelin Franklin
Freewheelin Franklin's picture

No. She's Palpatine in drag.

Wed, 03/20/2013 - 10:19 | 3352041 xtop23
xtop23's picture

That was the first thing that came to my mind as well..... TPTB just Strauss-Kahn'd her. Interesting.

Wed, 03/20/2013 - 10:50 | 3352149 JOYFUL
JOYFUL's picture

Non. DSK was in the closet....

that's Inspector Closeau under the bed. Tale of two tails...

it was the best of times, then the worst of times. Dickens, what?

Wed, 03/20/2013 - 09:41 | 3351894 Jayda1850
Jayda1850's picture

Isnt this the same bitch who excoriated all the greeks for not paying taxes? All are equal, except some are more equal than others.

Wed, 03/20/2013 - 10:04 | 3351980 machineh
machineh's picture

Yeah, I'd recognize Timmie anywhere.

Wed, 03/20/2013 - 10:07 | 3351997 myptofvu
myptofvu's picture

Yep she gave the ole fair share speech and all the while her contract excludes her from having to pay income taxes to any Country.

Wed, 03/20/2013 - 10:12 | 3352015 helping_friendl...
helping_friendly_book's picture

IMF is a branch under the UN thus LaGarde is not subject to ANY INCOME TAX WHATSOEVER. She has the nerve to complain others are not payin?

I hate that Satanic bitch.

I say we start making holes in people in Congress today!

When will the people in the USA go on strike and start fucking the economy just like they have been by enriching themselves.

No revolution. Just stay home. Everyone stay home for a week in protest and see how the gov't reacts!!!!

No violence! Just don't go to work.

Wed, 03/20/2013 - 12:11 | 3352463 MS7
MS7's picture

Yes, Lagarde basically expressed the view that Greeks were unworthy of sympathy for being unable to obtain life-saving drugs because "they" didn't pay their taxes. That the ones who didn't pay taxes were probably not the ones unable to afford medical care didn't seem to faze her.

From The Guardian, May 25, 2012:

"Asked if she is essentially saying to the Greeks and others in Europe that they have had a nice time and it is now payback time, she responds: 'That's right.'"

Now the powers that be say its your time for payback time, Lagarde, ha, ha, ha!

Wed, 03/20/2013 - 09:47 | 3351900 TWSceptic
TWSceptic's picture

A smart fascist knows that you never just take the depositos. You tax, inflate, borrow, lobby, bailout, steal when no one is looking, but you NEVER make it obvious enough so that the people can see the actual theft. This is just too 'honest theft' for the people's own good.

Wed, 03/20/2013 - 10:08 | 3351929 kridkrid
kridkrid's picture

wrong spot.  carry on.

Wed, 03/20/2013 - 09:21 | 3351805 insanelysane
insanelysane's picture

another Rich Socialist.

Wed, 03/20/2013 - 09:21 | 3351807 bank guy in Brussels
bank guy in Brussels's picture

And then there is the sudden 'suiciding' of the lawyer for the famous 'rogue trader' Jérôme Kerviel and defendants in other corporate scandals, lawyer Olivier Metzner, suddenly found dead:

«  His body was found floating off his private island in Brittany.

A note was found at his home and an investigation has been opened, with police treating the case as suicide.

He made his name in a series of high-profile cases, defending the rogue trader Jerome Kerviel, former Prime Minister Dominique de Villepin, and Vivendi chief Jean-Marie Messier. »


Wed, 03/20/2013 - 09:21 | 3351808 Yellowhoard
Yellowhoard's picture

I just peed myself .

Wed, 03/20/2013 - 09:21 | 3351810 Hulk
Hulk's picture

never trust Orange people. Orange people are the real enemy...

Wed, 03/20/2013 - 09:26 | 3351839 Ljoot
Ljoot's picture

If she and Boehner had a kid, it could get a job as a living traffic cone.


Wed, 03/20/2013 - 09:33 | 3351870 GetZeeGold
GetZeeGold's picture



Could go to work for Willy Wonka.

Wed, 03/20/2013 - 09:40 | 3351887 fuu
fuu's picture

<golf clap>

Wed, 03/20/2013 - 09:22 | 3351814 Frastric
Frastric's picture

Hang the wrench!

Wed, 03/20/2013 - 09:52 | 3351926 Banksters
Banksters's picture

By the beef flaps.

Wed, 03/20/2013 - 09:22 | 3351821 Dr. No
Dr. No's picture

Is there a house keeper who claims inappropriate behavior?  It is predictable because it works.

Wed, 03/20/2013 - 09:22 | 3351822 Shizzmoney
Shizzmoney's picture

Our countries are run by Champagne Socialists and Fascists.

We deserve what we get.

Wed, 03/20/2013 - 09:53 | 3351931 NotApplicable
NotApplicable's picture

Maybe stop supporting the mass delusion d.b.a. "collectivism," and you'll soon discover there's no such thing as "our" countries.

Criminal cartels well engaged in PR does not a healthy society make. But hey, I guess you deserve what you get for holding such incoherent beliefs.

Good luck with that. (you're gonna need it)

Wed, 03/20/2013 - 09:23 | 3351828 Lost Wages
Lost Wages's picture

All they found was an old leather handbag with eyes and a mouth holding an IMF paycheck in its hand.

Wed, 03/20/2013 - 11:32 | 3352303 LuckoftheIrish
LuckoftheIrish's picture

Was it her famous Louis Vuitton handbag. I hate that evil bitch.

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