IMF Audit -- Does anyone else remember a post on DU a few years ago about an

[JDPriestly]

IMF audit and a message being given to Bush about the audit?

I thought I saw that here and that there was a link to a news article on that, but I don't seem to be able to find anything.

Does anyone else remember?

Or was I dreaming? (I talk and walk in my sleep, so anything is possible.)

[Make7]

1. This?

 
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x4167585
 

[JDPriestly]

5. Thanks for the link. That is just what I was looking for.

[chalky]

2. Hey, thanks for the reminder.

"For seven years, US President George W. Bush refused to allow the IMF to conduct its assessment. Even now, he has only given the IMF board his consent under one important condition. The review can begin in Bush's last year in office, but it may not be completed until he has left the White House. This is bad news for the Fed chairman.

"When the final report on the risks of the US financial system is released in 2010 -- and it is likely to cause a stir internationally -- only one of the people in positions of responsiblity today will still be in office: Ben Bernanke."

2010? So where is it? All I got from googling was stories on the Strauss-Kahn rape charges and
stories about an IMF internal audit that concludes that the IMF, ahem "lacks credibility".
There's a huge gap in IMF mentions between 2008 and 2011.

[JDPriestly]

3. Thanks. I think that this is why we have such a push for austerity

right now. And our government is trying to fool us into thinking that this a goal that we the people are setting for ourselves.

I wonder.

Another problem for Mr. Dollar is that it will be several months before his actions take effect. Officials with the International Monetary Fund (IMF) have informed Bernanke about a plan that would have been unheard-of in the past: a general examination of the US financial system. The IMF's board of directors has ruled that a so-called Financial Sector Assessment Program (FSAP) is to be carried out in the United States. It is nothing less than an X-ray of the entire US financial system.

As part of the assessment, the Fed, the Securities and Exchange Commission (SEC), the major investment banks, mortgage banks and hedge funds will be asked to hand over confidential documents to the IMF team. They will be required to answer the questions they are asked during interviews. Their databases will be subjected to so-called stress tests -- worst-case scenarios designed to simulate the broader effects of failures of other major financial institutions or a continuing decline of the dollar.

. . . .
For seven years, US President George W. Bush refused to allow the IMF to conduct its assessment. Even now, he has only given the IMF board his consent under one important condition. The review can begin in Bush's last year in office, but it may not be completed until he has left the White House. This is bad news for the Fed chairman.

When the final report on the risks of the US financial system is released in 2010 -- and it is likely to cause a stir internationally -- only one of the people in positions of responsiblity today will still be in office: Ben Bernanke.

http://www.spiegel.de/international/world/0,1518,562291,00.html

[Waiting For Everyman]

4. Could this story about Soros getting out of hedge funds be related?

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x4937188#top

From your post:

As part of the assessment, the Fed, the Securities and Exchange Commission (SEC), the major investment banks, mortgage banks and hedge funds will be asked to hand over confidential documents to the IMF team. They will be required to answer the questions they are asked during interviews. Their databases will be subjected to so-called stress tests -- worst-case scenarios designed to simulate the broader effects of failures of other major financial institutions or a continuing decline of the dollar.