Friday, February 11, 2011

Labour put pressure on IMF

Labour ministers 'leant on IMF' to disguise devastating truth of pre-credit crunch economy

Labour ministers put pressure on international inspectors to ‘tone down’ warnings about the precarious state of the economy before the financial crisis, according to a devastating report. The findings came in a report from the International Monetary Fund’s Independent Evaluation Office which exposed a series of astonishing failures in the run-up to the crisis. The report found that information was withheld from the IMF and the public by the British authorities, Fund officials were intimidated, and regulators at home and abroad failed to spot serious risks in the banking system and the economy.

Posted by wanderinman @ 09:03 PM (956 views)
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2 thoughts on “Labour put pressure on IMF

  • I told you the FSA was a sham and an eventual scapegoat.

    The proof is overwhelming. But no, it can’t be possible.

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  • The last government obviously had, a vested interest in the strategy of delaying reacting to bad economic news. Organisations with vested interests often try and orchestrate such things to suit their own purposes.

    Estate agents have been doing similar things with the housing market. Its time someone blew the whistle on them too.

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