Comments on: Funding the IMF: White House Should Honor Left’s Critique, Allow for Conditionality Review

By: bonzo1958

bonzo1958 — Thu, 11 Jun 2009 21:18:21 +0000

And on the picture issue–

Reid: Torture pix won’t be released

“The pictures are not going to be released,” an emphatic Reid told reporters at his weekly media availability. He refused to say if the White House has discussed a possible executive order with him, but Senate aides say the possibility is on the table.

http://www.politico.com/blogs/.....ml?showall

By: T-Bear

T-Bear — Thu, 11 Jun 2009 20:56:20 +0000

Should any bother to recall the crisis meeting of the “20″ shortly after Davos this year, the agreement reached was to beef up the IMF by €500B of which the US was contributing $100B as its share, the purpose of which was to support the financial viability of both weaker economies (primarily in eastern europe) as well as the impoverished economies worldwide that were being adversely affected by the economic collapse occurring in the leading economies. The IMF is fully regulated by international treaty, Congress has little standing to alter those existing treaties to assume command or control of the institution.
A separate issue is the rewarding of leading european banks out of TARP and treasury funds, remedying their exposure to the toxic assets pandered off to them by the financial charlatans of Wall St. Conspicuously these banks were major players in buying US treasuries from foreign investment sources. It makes utter sense to make right the losses these institutions had been handed by US institutions, Selling treasury bonds to overseas investors would have been crippled otherwise. That will become more apparent in the near-term future as US tries to sell its debt.
What can be done is beginning to isolate and neuter the acolytes and denizens of the Chicago School of Economic (Phrenology), Harvard Business School, and the London School of Economics from access and control of the IMF/WTO institutions until such time those places can demonstrate a workable theory of economics.

By: BooRadley

BooRadley — Thu, 11 Jun 2009 20:45:21 +0000

Prof. Galbraith, thanks so much.

By: selise

selise — Thu, 11 Jun 2009 20:07:52 +0000

i’m sure timmy geithner (doesn’t usa treasury still have the only veto on imf policy?) will make sure the money is put to good use to help those who’ve been most harmed.

oh, wait…..

By: Teddy Partridge

Teddy Partridge — Thu, 11 Jun 2009 20:04:33 +0000

More layers of international bureaucracy to evade responsibility for the IMF’s shocking practices? No thanks. De-fund it all. Wish you had done so in 1982!

By: ThingsComeUndone

ThingsComeUndone — Thu, 11 Jun 2009 19:59:26 +0000

Does the IMF even have a plan that we mortals can read up on about what they intend to do with the money and why it is in our best interest to give them this money?
Why and how the American people will benefit if the IMF gets the cash rather than National Healthcare.

By: alank

alank — Thu, 11 Jun 2009 19:42:56 +0000

Hungary used to have one of the most advanced planned economic systems, a sort of hybrid, but I think it went to the right after a point, glasnost, maybe.

By: alank

alank — Thu, 11 Jun 2009 19:40:29 +0000

It’s like a bulletin from the Brookings Institution. It’s terrible when the best and brightest choose to go this way, blasted.

By: ThingsComeUndone

ThingsComeUndone — Thu, 11 Jun 2009 19:38:49 +0000

I assume that this IMF cash for Eastern Europe will be used to control these countries isn’t Wolfiwitz part of the IMF?
Neocons hate Commies I bet IMF cash will have strings attached.

By: Hugh

Hugh — Thu, 11 Jun 2009 19:37:52 +0000

Also I should point out that it is the Western European banks that have a lot of exposure in Eastern Europe and AIG’s remaining CDS book has a lot of exposure to these same banks.