A cynical view of the 2009 IMF/ World Bank meetings
There are five main messages from the IMF/ World Bank meetings. They can be summed up very easily:
• We tried low interest rates to deal with the threats from the collapse of the dotcom bubble in 2001. These low rates produced the greatest financial crisis ever. So we want rates to be even lower in future and we promise to keep them low for a longer period.
• We used the very best and smartest regulation that our best and brightest experts could devise to keep banks safe. It failed. So what we
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