IMF tells world to plan for the worst

Public funds? Taxpayers’ money? As if the people of the US and other countries don’t already have enough coming out of their dwindling salaries — now the IMF tells governments to dip in for more? Lovely. — PID

Mar 14, 2008 (FINANCIAL TIMES) — Governments might have to intervene with taxpayers’ money to shore up the financial system and prevent a “downward credit spiral” from taking hold, the International Monetary Fund said yesterday. John Lipsky, the IMF’s first deputy managing director, said: “We must keep all options on the table, including the potential use of public funds to safeguard the financial system.” Full Report