Twofish's Blog

October 9, 2008

The IMF looking silly

Filed under: finance — twofish @ 2:43 am

http://www.imf.org/external/pubs/ft/survey/so/2008/new100708A.htm

There’s something funny and sad about the IMF writing a report that talks about the necessity for “decisive policy action” three weeks into a major crisis. Right now anything that the IMF writes is pretty useless. What would have been useful is to teleport that report back in time six months. This is a really pompous quote

The time for piecemeal solutions is over. I therefore call on policymakers to urgently address the crisis at a national level with comprehensive measures to restore confidence in the financial sector. At the same time, national governments must closely coordinate these efforts to bring about a return to stability in the international financial system

Geeze. I call on the moon to rise and the sun to shine.

Advertisements

Leave a Comment »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Blog at WordPress.com.

%d bloggers like this: