International Monetary Fund

“The financial crisis may be enhanced by new losses for banks holding U.S. securities,” says a recent report by the International Monetary Fund (IMF). And it has been estimated that among subprime loans, falling home prices, rising delinquencies and losses that everything has transferred to another type of loan losses from the crisis amounted to 945 000 million. A capital fund fifteen or twenty Millennium Goals if he will. But solidarity is not capital, of course, are losses. Losses resulting from the negligence, excessive greed, bad management and the absolute lack of control of the financial world.

Now the IMF calls on governments to act now to “temper the risks of a more painful adjustment.” The IMF, the guardian of theological supremacy of the market (powerful deus ex machina that all monitors, controls and blends) and the absence of the state in the economy. And so there is no doubt, its managing director, Dominique Strauss-Kahn, said that “the need for public intervention has become more evident,” because “government intervention in the housing market or the banking sector may be a line of defense to support the financial and monetary policy.” And although the Secretary of the U.S. Treasury, Henry Paulson, will not be used to ensure that public money (the taxpayers, that of the state treasury) to rescue the U.S. financial system, such a statement is not credible, as writing the prestigious Princeton economics professor Paul Krugman.