Michael Collins: New IMF Director - The more things change...

Michael Collins

Seriously, is this the best the financial elite can do? The Money Party is running on fumes.

The Financial Times reported that French Finance minister Christine Lagarde was the leading candidate for Managing Director of the International Monetary Fund (IMF). She would replace Dominique Strauss-Kahn, now charged with sexual assault in New York City. (Images: Wiki Commons)

Christine Lagarde, France’s finance minister, has emerged as the leading contender to run the International Monetary Fund after being strongly endorsed by her German and British counterparts, eager to extend Europe’s 65-year grip on the global financial institution. Financial Times May 22

With the UK, Germany, and France supporting Lagarde, a favorable nod from the Obama Administration would assure her the job.

Since its creation in 1945, IMF has had an unbroken string of European managing directors.


Crimes of the Times

In the Business section of the New York Times on Nov. 10, Edward Hadas, Martin Hutchinson and Anthony Currie analysed the structure of US manufacturing wages and found them to be too low, American Wages Out of Balance, A more accurate title might have been Creative Ideas on How to Screw the American Middle Class

The piece speaks for itself, but first a hat tip to Massaccio on Firedog Lake for the find.