As the news comes in from the House of Reps rejection of the bail I can’t help but feel that the IMF is an institution that has been ignored too long. They have been warning Gordon Brown for a long time and if they had been allowed to, they would have criticised what was happening in the US as well.  Mr Brraaawck Obama, the great Democrat messiah, needs to do his homework a bit and read this report by the IMF:

In brief, Merrill Lynch’s economists suggest that the United States should move quickly to declare certain banks “survivors” and put the others out of their misery.