Strauss-Kahn Resigns IMF Post

Business Insider reports:

Dominique Strauss-Kahn will announce his resignation as Managing Director of the IMF in the next few hours, according to French blog Atlantico, citing a French diplomatic cable.

According to Atlantico, France's consul general in New York saw "DSK", as he is better known, in custody, as part of the diplomatic protection enjoyed by French citizens overseas, and cites a cable sent from the consulate as saying DSK will announce his resignation soon.

Even if the allegations of sexual assault against him are completely unfounded, it's likely that DSK will be dealing with them full time for several months, while the IMF is needed on many fronts, with bailouts in Europe and elsewhere proceeding apace.