Thursday, October 30, 2008

IMF Creates a $100 Billion Fund to Aid the "Crisis" Fight

Reports WSJ:
The new three-month loans, aimed at economies the IMF judges to be troubled but basically sound, wouldn't require countries to make the often severe changes in their policies that the IMF has demanded for decades... "Exceptional times call for an exceptional response," said IMF Managing Director Dominique Strauss-Kahn...

But the new plan also puts the IMF in the position of deciding who can have money with few strings attached, and who can't.

Bureaucrats obviously love the Paulson "Decider" formula of being in a position to determine who lives and who dies.

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