Strauss-Kahn (Finally) Resigns from IMF

A resignation letter written in a jail cell means the hunt is on for a replacement to lead the IMF.

Dominique Strauss-Kahn has tendered his resignation as managing director of the International Monetary Fund, five days after getting arrested on charges of sexual assault and unlawful confinement. The IMF released Strauss-Kahn's statement early Thursday morning, in which he said he doesn't want to bring any more grief to the IMF as he prepares for his upcoming trial. Strauss-Kahn has maintained his innocence in the alleged incident involving a 32-year-old chambermaid at an upscale New York hotel, as his defence team has suggested the French politician might claim the encounter was consensual. Strauss-Kahn's American deputy, John Lipsky, will lead the IMF in the interim while the institution searches for a new chief.