IMF Needs Real Reform

With a sexual assault scandal surrounding him, Frenchman Dominique Strauss-Kahn has stepped down as chief of the International Monetary Fund. And now a woman may be preparing to step into the post.

She is French finance minister Christine Lagarde. And one of her most noted public statements is one that she made in January when she publicly lectured a top international banker at the World Economic Forum about banks’ responsibilities.

She said to him: “The best way for the banking sector to say thank you would be to actually have, you know, good financing of the economy, sensible compensation systems in place and reinforcement of their capital.”

Of course there was wild applause after her statement because the World Economic Forum is a left-wing affair and private bankers are seen as evil capitalists.

Except there should have been no applause because Lagarde was lecturing the wrong person. She should have been lecturing tens of thousands of big-spending world government bureaucrats about their massive debts and about how they have forced private banks to make trillions in loans to people who can’t pay it back (i.e., in the US, the Community Reinvestment Act, Fannie Mae, Freddie Mac and the Democrat party).

Because these are the forces that have caused the world economic collapse. Private banks are just scapegoats for socialists who refuse to accept responsibility for ruining America’s economy and the world’s.

One commentator even said that Lagarde’s chances are improved because of the fact that Struass-Kahn is seen as another male chauvinist immersed in a sex scandal and that perhaps it is time for a woman to take the reins.

This is baloney. Because common sense tells us to forget the sex scandal, which is minor, and look at the financial scandal and collapse, which is infinitely more significant. Because the collapse shows that we should forget these silly gender games and install bottom-line capitalists – male or female – at IMF, the World Bank, and in every government office in the world. So that we can have financial stability, not more chaos and debt.

And we should put bottom-line capitalists in every bank in the world instead of the elite socialists who have commandeered some of the global finance system and the American banking system and turned them into a tool for social engineering.

As it turns out, Europeans prefer Lagarde because they are maneuvering to keep a Euro at the IMF helm since Europe has controlled IMF and the World Bank since they were created after World War II.

To which we conservatives say that we would prefer a capitalist Bangladeshi ahead of another socialist Euro.

Look at how Obama is handling his own health-care plan and you see how the world crisis evolved. This plan has been condemned for two years now by conservatives, and now Obama is handing out exemption after exemption for his cronies in labor unions and at favored companies because even he recognizes how unworkable the plan is. Swanky restaurants, cafes, clubs and hotels in former Democrat House speaker Nancy Pelosi’s San Francisco district are the latest to get exemptions.

And the health-care exemptions don’t stop with Pelosi. The whole state of Nevada, which is represented by Democrat Senate majority leader Harry Reid, also just received a partial exemption from a provision in the law.

Uh, Ms. Lagarde, have you noticed this corruption? Can you please lecture president Obama publicly about his lack of responsibility in offering a health plan for all of America that his own friends want to be exempted from? And about all his massive debt?

She never will. Because Obama is a free-spending, big-government socialist and the IMF and world bureaucrats never, ever put the blame at the feet of the left. Because that is where they all come from.

Obama’s policies are typical of the kind of fiscal double-dealing that has brought down the world economy. And if Christine Lagarde cared, she would not be lecturing private-sector bankers. She would call for a private meeting with the president of the United States and his minions and others like him around the globe.

Please visit my website at www.nikitas3.com for more. You can read excerpts from my book, ‘Right Is Right’, which explains why only conservatism can maintain our freedom and prosperity.