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Michael Stewart wrote:
Other than shareholders who cares if irresponsible lending by US and German
Banks gives up billions?
Principally, the US taxpayer, who funds a not insignificant, inordinately
large amount of the IMF.
On a practical level,the IMF serves as free hedge insurance to the
multi-national banks so they can make bets on high-yielding, risky paper &
know that, in the main, their behind is covered by taxpaying saps the world
over, in the event their bet doesn't work out.
As traders, wouldn't we like to have such a setup operating for us, rather
than being the forced contributors to the IMF scheme, who have no upside on
the "trade"?
FPI
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