Should the US Accept IMF intervention?
During the Asian Financial Crisis in the 1990's, the International Monetary Fund injected $20 billion into the South Korean financial market with the expressed warning not to bailout failing banks or businesses. With IMF oversight and financial backing South Korea was able to emerge from its financial crisis, but not without some major overhaul of their government-backed business model. The US now is in deep financial trouble, and what it once told South Korea to do, it is doing the opposite. The US is also running out of money. The IMF and the World Bank, usually assisting Third World Nations and Developing Nations, stand by ready to help, though they will make it clear, bailing out ailing companies is not the long-term solution to problems. Should the US accept IMF and World Bank intervention? If so, will it have to allow certain businesses to fail? Can the new USSRA (United States Socialist Republic of America) afford to privatize profits and socialize losses? http://www.iht.com/articles/2008/09/17/business/rescue.php http://www.latimes.com/news/opinion/commentary/la-oe-brooks18-2008sep18,0,7282720.column
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We may have no choice. The money is running out. The government only has so much cash, and has borrowed so much money, it many never be able to pay it back.
