News. The head of the IMF is today arguing the case to redefine and expand its role.
The Fund must better detect risks that individual economies pose to the rest of the world, as well as offering liquidity early during a financial crisis, Dominique Strauss-Kahn is saying. The institution should also better monitor large, interconnected financial firms to construct a “risk map”.
My point. These are the same people who were in power when the mess we are in started. Now they want even more power to solve the problems they created.
The outcome is that the bureaucracy will grow bigger and bigger and will control an enormously increasing amount of our money.
Do you see what I mean? Do you recognize the implications? Everybody is running to the trough!
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked Top Market Timer in 2009 and 2010 by Timer Digest
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