"Dire consequences", head of IMF

ninky_2

http://www.metro.co.uk/news/article.html?Global_money_crisis_is_so_dire_war_may_erupt&in_article_id=593290&in_page_id=34

http://www.imf.org/external/pubs/ft/survey/so/2009/new020709a.htm

The head of the IMF is warning of war and catastophe if we don't get it together and blaming "the opacity of markets, the greed of some bankers and the complacency of regulators and policymakers" for the global financial crisis.

Given that we can't stop individual greed, what should we be doing to reduce market opacity and reduce regulatory complacency?

Is the head of the IMF right?

Rochdale_Pioneers

He appears to be agreeing with Gordon Brown. According to some that makes him automatically wrong.

Generali

Rochdale_Pioneers wrote: »

He appears to be agreeing with Gordon Brown. According to some that makes him automatically wrong.

Not automatically wrong just more likely to be.

[Deleted User]

War is great for fiscal stimulus!

dervish

ninky wrote: »

http://www.metro.co.uk/news/article.html?Global_money_crisis_is_so_dire_war_may_erupt&in_article_id=593290&in_page_id=34

http://www.imf.org/external/pubs/ft/survey/so/2009/new020709a.htm

The head of the IMF is warning of war and catastophe if we don't get it together and blaming "the opacity of markets, the greed of some bankers and the complacency of regulators and policymakers" for the global financial crisis.

Given that we can't stop individual greed, what should we be doing to reduce market opacity and reduce regulatory complacency?

Is the head of the IMF right?

I think Lamont and Mandleson are the LAST people that can talk.

ad9898_3

Generali wrote: »

Not automatically wrong just more likely to be.

Your comment as got me thinking Gen, has he been right on anything that might have a good impact in the medium to long term for 'hard working families' ? I have to say, I'm struggling.

CLAPTON

It would seem to me that we haven't been free from wars for some time and catastophes occur quite often too.

dervish

dervish wrote: »

I think Lamont and Mandleson are the LAST people that can talk.

what Gordon "Green Shoots" Lamont??

The chap that got us into Black Wednesday? He is the last one to be talknig!

Generali

ad9898 wrote: »

Your comment as got me thinking Gen, has he been right on anything that might have a good impact in the medium to long term for 'hard working families' ? I have to say, I'm struggling.

Tax credits were a good effort at relieving the poverty trap (where people on benefits returning to work face effective marginal tax rates close to or even above 100%). I'm not sure it did much to reduce unemployment but it's hard to say as there are so many confounding factors.

I can see where he's coming from with that one even if I disagree with the actual policy.

All this chucking around of GBP x,000,000,000s of quid of borrowed money isn't going to help anyone long term.

Wookster

Generali wrote: »

Tax credits were a good effort at relieving the poverty trap (where people on benefits returning to work face effective marginal tax rates close to or even above 100%). I'm not sure it did much to reduce unemployment but it's hard to say as there are so many confounding factors.

They couldn't even get that right.

How many stories have I heard of f@cked up tax credit calculations costing the taxpayer billions of pounds.

Goodbye Labour thieves.

LisbonLaura

ninky wrote: »

Given that we can't stop individual greed,

One bullet can do that; or if your nature is milder sequestration of all wealth & enforced street cleaning for life.

Unthinkable in the UK of course.
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Lamont was just doing as he was told; look at the employer he returned to