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IMF Head: On Brink Of Financial Meltdown

From a joyous Reuters:

Global financial system on brink of meltdown: IMF

WASHINGTON (Reuters) – Concerns about the solvency of international banks has pushed the global financial system to the brink of a systemic meltdown, the head of the International Monetary Fund said on Saturday.

Even with unprecedented actions, including a coordinated rate cut by major central banks, to stop the financial hemorrhaging in the U.S. and Europe, additional steps will likely be needed until markets were stabilized, IMF Managing Director Dominique Strauss-Kahn said.

“Looking ahead, financial conditions are expected to remain very difficult, restraining global growth prospects,” Strauss-Kahn told the IMF’s policy-steering committee, the International Monetary and Financial Committee.

Wasn’t that helpful of Messeiur Strauss-Kahn?

And also how perfectly… European.

Do nothing to help. Just panic.

And wait for the US to solve everything.

By the way, Messeiur Strauss-Kahn is a raving socialist.

So what is he doing in such a position in the first place?

This article was posted by Steve on Saturday, October 11th, 2008. Comments are currently closed.

One Response to “IMF Head: On Brink Of Financial Meltdown”

  1. Reality Bytes says:

    You have to wonder, who is it that spikes the volume in the final hour of daily trading. Have you any idea who would want a total collapse of the free market? Hmmm, could it be Satan?!

    Well yes, but for now let’s just say, EU types, Soros included, et al, would like the Eagle caged into capitulation – a kind of hostile take over without a shot. And, who is helping them?

    You say Obama,

    And I say Osama, Same ol’ tune.

    America better get this election right. No biggie, just America as we (and the world) knows it. Good for them. Bad for U.S.

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