Scandal At The IMF: Senior Economist Resigns, Says “Ashamed To Have Had Any Association With Fund At All”

The rats everywhere are now jumping furiously off the titanic, but few had taken the time to write a letter explaining in detail just how cracked and broken the hull really was. This has now changed, with the departure of Peter Doyle, formerly a division chief in the IMF’s European Department responsible for non-crisis countries and currently an adviser to the Fund. Not content with quietly slinking off the scandal ridden organization which has become the butt of all jokes in the international community, where humor about Lagarde’s Louis Vuitton panhandling bag is as pervasive as punchlines about just how incompetent the organization is at actually doing its duty, Doyle has penned the following scathing letter which tears down every myth about the IMF: from its impartiality, to the selection process of its head, to its effectiveness. The letter also contains the following gem:

After twenty years of service, I am ashamed to have had any association with the Fund at all.

Pretty much says it all. This is a scandal in the making, and one which may shake to the core the credibility of the IMF in the context of international organization.

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2 Responses to Scandal At The IMF: Senior Economist Resigns, Says “Ashamed To Have Had Any Association With Fund At All”

  1. Betty Jackson says:

    After 20 years? I wonder if he’s being genuine. I suppose he’s fully vested in a retirement package and it’s time for him to move on. Perhaps.

    • David says:

      People want to believe. They want to believe that good people will be able to fix the problems in a company, organization or government. At some point, we have to come to understand that these efforts have not worked and will not work. At that point, we understand that participating in a system doomed to fail, is not logical. Ayn Rand outlined this effectively in Atlas Shrugged.

      I think the analogy is obvious: politicians are the problem, not the solution. I look forward to the next Great Awakening.

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