Here we go again. Most rational people have no problem saving our trading partners from economic collapse as this would have a severely negative impact on the US economy as well. That said, in no way should a single cent be handed over if it's to rescue the ostentatious lifestyles of the bankers. Nobody is interested in doing that again and everyone now realizes that it was Tim Geithner and Hank Paulson who led that last bailout that maintained the lifestyle of bankers. We've had enough of the free rides for those least in need.
Estimates have run as high as $2 trillion for a liquidity fund, and Geithner said that whatever the figure is, it should leave no doubt that there will be more than enough.
"A basic rule of financial crises management is you want to make sure you have a level of resources that are larger than the potential need you face," he said. "If markets see that then they'll have the incentive to continue to lend, invest, to get more exposure to those countries."
By next week, IMF participants should have "a more comprehensive strategy" to solve the problem and put in place a plan at the G20 summit, which begins Nov. 3.
