This Ex-IMF Economist Probably Won’t Be Asking Christine Lagarde For A Recommendation

 

Christine Lagarde

flickr / MEDEF

Christine Lagarde

“After twenty years of service, I am ashamed to have had any association with the Fund at all,” wrote Peter Doyle an ex-economist for the International Monetary Fund.

 

The line comes from a letter that Doyle wrote to the IMF’s executive board last week.

Here’s what he had to say about IMF head Christine Lagarde: “Even the current incumbent is tainted, as neither her gender, integrity or élan can make up for the fundamental illegitimacy of the selection process.”

Doyle goes on to criticize the IMF’s handling of the euro crisis.

Dennis Gartman pointed us to the letter in this morning’s Gartman Letter.

“We have long said that the Fund’s client states were always and everywhere the worse for having had the Fund involved in their fiscal and monetary circumstances,” wrote Gartman who clearly isn’t a fan of the IMF either.

Read more: http://www.businessinsider.com/imf-economist-peter-doyle-letter-christine-lagarde-2012-7?op=1#ixzz21VcP36Yy

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