| Very good article by Simon Johnson: The Quiet Coup
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23 Apr 09 |
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The crash has laid bare many unpleasant truths about the United States. One
of the most alarming, says a former chief economist of the International
Monetary Fund, is that the finance industry has effectively captured our
government-a state of affairs that more typically describes emerging
markets, and is at the center of many emerging-market crises. If the
IMF’s staff could speak freely about the U.S., it would tell us what
it tells all countries in this situation: recovery will fail unless we
break the financial oligarchy that is blocking essential reform. And if we
are to prevent a true depression, we’re running out of time.
www.theatlantic.com/doc/200905/imf-advice
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