U.S. Endorses Lagarde for IMF

The U.S. government has weighed in on who should replace Dominique Strauss-Kahn as head of the International Monetary Fund, endorsing French Finance Minister Christine Lagarde for the position early on Tuesday. With the U.S. behind her, Lagarde is now backed by nations who represent more than half the IMF's votes and is likely a shoo-in for the role. "Minister Lagarde's exceptional talent and broad experience will provide invaluable leadership for this indispensible institution at a critical time for the global economy," said Treasury Secretary Tim Geithner. Her competitor, Mexican banker Agustin Carstens, only has  support from countries that represent 12 percent of board seats.