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wcaseym (84.59)

Knock! Knock!

Recs

6

July 03, 2008 – Comments (3)

Who is there?

IMF

IMF who?

Just open up the phlunkin' door!  This is no joke, ...

Under its bylaws, the IMF is charged with the supervision of the international monetary system. Roughly two-thirds of IMF members -- but never the United States -- have already endured this painful procedure.

For seven years, US President George W. Bush refused to allow the IMF to conduct its assessment. Even now, he has only given the IMF board his consent under one important condition. The review can begin in Bush's last year in office, but it may not be completed until he has left the White House. This is bad news for the Fed chairman.

When the final report on the risks of the US financial system is released in 2010 -- and it is likely to cause a stir internationally -- only one of the people in positions of responsiblity today will still be in office: Ben Bernanke.

The Shrinking Influence of the US Federal Reserve

http://www.spiegel.de/international/world/0,1518,562291,00.html

C.

3 Comments – Post Your Own

#1) On July 03, 2008 at 5:46 PM, GS751 (27.36) wrote:

Big suprise that bush dosent want them sniffing around....

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#2) On July 03, 2008 at 6:35 PM, abitare (36.90) wrote:

I am reminded of Caddyshack scene, not sure if I can get it to apply:

 

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#3) On July 03, 2008 at 7:01 PM, EScroogeJr (< 20) wrote:

The IMF was always meant to be a foreign policy tool for destroying thirld-world country economies. A real-life analogy: when a poisonous snake gets whipped by the man it's trying to attack, it turns back to bite its master.

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