Comments on: Lagarde’s employment contract http://blogs.reuters.com/felix-salmon/2011/07/06/lagardes-employment-contract/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: paintcan http://blogs.reuters.com/felix-salmon/2011/07/06/lagardes-employment-contract/comment-page-1/#comment-28246 Wed, 06 Jul 2011 20:08:14 +0000 http://blogs.reuters.com/felix-salmon/?p=8873#comment-28246 The per diem and the expense account are intended
“to enable you to maintain, in the interests of the Fund, a scale of living appropriate to your position as Managing Director and to the Fund’s need for representation.”

It sounds like the logic that was used in pre-revolutionary France that demanded that a nobleman spend lavishly to maintain a life style befitting his rank. In other words, compulsory conspicuous consumption is part of her job description.

If Ms. Lagarde is expected to live in a gilded cage does that also imply that the IMF expects those who don’t occupy such lofty and specialized positions to retreat to garbage cans and filth as appropriate for their low value in society?

Those conditions make that tight fisted Hattie Green of Wall Street lore look like she was no nonsense and all business by comparison. I suppose no one love’s Warren Buffet’s choice of modest living standards anymore? He was always fighting a head wind.

It is obvious that modern society cannot make up it’s mind about what it expects from wealth or poverty but I’ve never heard of a built in dress for success clause. I always thought it was assumed.

As a self employed person I don’t need a lavish dress code as part of my job description and so many would like those allowance to maintain appearances – my sister for one, who is a glutton for money , that I wonder if it is usually a part of corporate contracts in general?

It seems a surprising allowance among other allowances, for a person who is otherwise taking a position that recently was nearly anonymous. It also stinks that people in her position are being paid to set lifestyle standards that so many others will ape yet can’t afford. That’s been a constant complaint in these comment pages for the past few years.

You can drape a rattle trap in brocade and it will still eventually collapse from it’s own slipshod carpentry.

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By: tmc http://blogs.reuters.com/felix-salmon/2011/07/06/lagardes-employment-contract/comment-page-1/#comment-28243 Wed, 06 Jul 2011 19:57:09 +0000 http://blogs.reuters.com/felix-salmon/?p=8873#comment-28243 OK Felix, why was DSK ousted and LaGarde brought in? The rape case is a farse and we all knew it the day it was announced. I just couldn’t figure out why they wanted him out? Was he not going to support Greece? Turkey? Was he going to let them default? There has to be a resaon that he was destroyed like this.
So Felix, why was he ousted?

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By: dsfan http://blogs.reuters.com/felix-salmon/2011/07/06/lagardes-employment-contract/comment-page-1/#comment-28228 Wed, 06 Jul 2011 17:15:11 +0000 http://blogs.reuters.com/felix-salmon/?p=8873#comment-28228 “…she’s still being paid substantially more than any elected head of state in the world. If the job of IMF managing director is a public-service one, one wonders why her salary needs to be so high.”

I believe in Singapore both the head of state (http://en.wikipedia.org/wiki/President_ of_Singapore) and high-level government officials (http://en.wikipedia.org/wiki/Cabinet_of _Singapore) make substantially more than Lagarde. It’s also a famously competent government, which is probably not unrelated to this.

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By: PBelenky http://blogs.reuters.com/felix-salmon/2011/07/06/lagardes-employment-contract/comment-page-1/#comment-28217 Wed, 06 Jul 2011 15:09:00 +0000 http://blogs.reuters.com/felix-salmon/?p=8873#comment-28217 If you click on “For journalists,” the press release page comes up, leading you right here. No secrecy.

http://www.imf.org/external/np/sec/pr/20 11/pr11270.htm

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