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IMF Plans Next Mega-Bailout Without National Authorizations

By Implode-Explode Heavy Industries

``... the énarque wants authority without legislative oversight, all in the public interest, of course. A current term for this in IMF-speak is ?automaticity?. As far as I can tell, with the limited understanding of a non-énarque, it means that when trillions of euros, dollars, or IMF Special Drawing Rights are needed to avert or stop an international crisis, no votes are required in Congress or the Bundestag... when the next crisis comes, the IMF?s contingency plans will almost certainly have been pre-approved, and quickly put into effect. ''

Full post as published by Mortgage Lender Implode-o-Meter on July 12, 2010 (boomark / email).