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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jul-21-12 03:51 AM
Original message
International Monetary Fund economist accuses Fund of suppressing information
Edited on Sat Jul-21-12 04:03 AM by No Elephants
Tell the truth. Would you be the least bit shocked if the accusation of suppressing information turned out to be true?

When the hell is any bankster type going to jail?



IMF economist accuses Fund of suppressing information



By Lesley Wroughton

WASHINGTON | Sat Jul 21, 2012 12:34am EDT

(Reuters) - A veteran economist at the International Monetary Fund has accused the global lender of suppressing information on difficulties in dealing with the global financial meltdown and euro zone crisis.

In a resignation letter to the IMF's board and senior staff, dated June 18, Peter Doyle said the IMF's failures in issuing timely warnings for both the 2007-2009 global financial crisis and the euro zone crisis were a "failing in the first order" and "are, if anything, becoming more deeply entrenched."

<snip>

IMF insiders, who asked not to be identified, told Reuters the concerns are that the Fund has over-stretched by lending to Europe without exercising the same level of independence it would normally apply in bailouts to emerging economies.

Doyle, a division chief for Sweden, Denmark and Israel in the IMF's European Department when he resigned, also accused the Fund's leadership of being "tainted" by a selection process which always ensures that a European is at the helm.


Much more at: http://www.reuters.com/article/2012/07/21/us-imf-resign...


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