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aftershocks, japan enters recession for a third time in a decade. as industrial output freefalls and consumers hold on to their cash. and the crumbling foundations of a failed property market. we ll look at the wreckage left behind by ireland s housing crisis. facing multiple charges of sexual assault in the united states, the managing director of the international monetary fund has resigned. dominique strauss-kahn tendered his resignation just a few hours ago in a letter to the imf. in it he writes i want to protect this institution which i served with honor and devotion and especially, especially, i want to devote all my strength, all my time and energy to provingmy innocence. in his statement strauss-kahn strenuously denies the allegations against him that alleged he sexually assaulted a maid last saturday at a new york hotel. he s still in a new york jail, his lawyers are going to court later on thursday to ask for bail. he s offering to post $1 million to stay in man
about 40 minutes from now. we re taking a look at live pictures showing you there the flag set up, the podium set up, waiting for the president to be speaking. that will be happening momentarily. now, of course we re taking a look at how the events a world away impact your security, our standing in the world. we ve got a few details ahead of the speech. the president is expected to say that the post-bin laden area is a time to reject terror and extremist views. the president will emphasize that the united states doesn t take a one size fits all approach to change in the region. and he s going to announce $2 billion in aid to help egyptian democracy take root. a tape was released that is bin laden speaking just days after his death. the speaker expresses support for the revolutionary change in the arab world. if. former imf chief dominique strauss-kahn will ask a new york judge to release him on bail. that s happening today. he is offering $1 million cash to be confined at