Twofish's Blog

October 9, 2008

The IMF looking silly

Filed under: finance — twofish @ 2:43 am

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.


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