Open Left

Good points. However, trying this unilaterally is still doomed. (0.00 / 0)

No argument about that the IMF could use an overhaul. But it's an organisation of 185 countries now,all of which have a say in the IMF's Board of Governors. And even it's more powerful Executive Board consists of 24 members. Of course, the creditors sure have a lot kore weight than others, but the US isn't the only one. At the recent G20 meeting, the IMF was a topic, and there have been agreements on financing it in order to effectively fight global recession. And then, some reforms are already under way since 2006 and 2007.

But here you are, the US progressives, boldly pursuiting a plan to UNILATERALLY reform an organisation belonging to 185 nations! Excuse me pls, doesn't this smell like failed Bush policy to you, too? Isn't this another try of the tail wagging the dog? And is this initiative, which will be very difficult to implement regarding all those other nations who have a say, and whose impact on the US economy will be miniscule, really the most urgent topic now? D'oh.

Really, I'm flabbergasted. What about president Obama's plan to overhaul the US financial regulation agencies? That's all over the headlines in international media right now, even in Germany it's the #1 story on Der Spiegel! It's THE big showdown between Wallstreet and White House. Now, where's that story here? Instead, we have that lot of brouhaha about the IMF! Goddamit, fuck the IMF, who cares!

Let it be said by our children's children that when we were tested, we refused to let this journey end, that we did not turn back, nor did we falter

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by: Gray @ Wed Jun 17, 2009 at 04:35:19 AM CDT

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