Elephant in the Room: Washington’s giant hedge fund.
| Feb 24th, 2010 | Filed under: Hedge Fund Industry Trends, Today's Post | By: AAA Staff |
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Most know that the International Monetary Fund isn’t a bank in the conventional sense – at least in theory, or in the way those who frequent these virtual pages think of them.
Yet headlines and anecdotal evidence over the past few weeks might suggest there is more bank – and even fund-like activity – going on than meets the eye. More…
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Personally, I believe the IMF has not done the 3rd world any good. It along with the world bank has supported far too many brutal dictators that effectively signed over those countries natural resources, national treasures, and economic future so that giant loans paid largely to said non democratic governments ruling elites. When things go wrong the ruling elite shift the entire burden of debt repayment back on to the backs of the citizens of the nation and the IMF takes the national treasure. Now they sell it to “raise money” for the poor countries. The create the problem and then act as if they are the heros comming to the rescue.
A program of person to person micro loans to women and small business and full support of liberty and democracy would be a far more honest and humane policy in my opinion.