Finance Latest News: IMF's Lagarde May Be Called as Bankia Probe Witness

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Finance Latest News: IMF's Lagarde May Be Called as Bankia Probe Witness

Finance Latest News: IMF's Lagarde May Be Called as Bankia Probe Witness
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Finance Latest News: IMF's Lagarde May Be Called as Bankia Probe Witness

by Wochit 1:21 mins

A Spanish political party that triggered a high profile court investigation into the near collapse of bailed-out bank Bankia has asked for Christine Lagarde, the head of the International Monetary Fund, to testify as a witness. The Union for Progress and Democracy which last year persuaded the high court to open an investigation into the bank's listing and near demise, asked the judge leading the case to call Lagarde and another IMF official to be questioned. Fox Business senior correspondent Charlie Gasparino said insider trading cases have been used politically to show we're cracking down on Wall Street, but they have nothing to do with the mortgage crisis, that started the call for a crackdown. Nearly 20 North American retailers including Wal-Mart Stores and Gap Incorporated unveiled a 5-year safety plan for Bangladesh garment factories that would include inspecting every factory within a year. The announcement in Washington by the Alliance for Bangladesh Worker Safety on Wednesday comes after 1,129 workers were killed in the collapse of a Bangladesh garment plant in April and another 112 people perished in November fire at a Bangladesh factory.

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