11 Jun 2009

“Funding the Fund”… or Not: Debunking WaPo’s Pro-Supplemental Editorial

Below are some comments on today’s plea from the Washington Post Editorial Board for more money for the International Monetary fund.

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08 Jun 2009

The Next Big Taxpayer Bailout? IMF Could Get Hundreds of Billions for European Banks

The bailout of private banks and financial institutions has become a touchy political issue in the United States, ever since President Bush’s Treasury Secretary and former Goldman Sachs CEO Hank Paulson asked Congress for a $700 billion dollar blank check last September.

Now the Obama administration is asking the Congress for $108 billion for the International Monetary Fund. What is all this money for? There is an answer staring us in the face from the financial press: European banks.

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