US calls for tripling of IMF firepower (need $500bn for IMF)

FT ^ | 03/11/09 | Alan Beattie

[TigerLikesRooster]

US calls for tripling of IMF firepower

By Alan Beattie in Washington

Published: March 11 2009 18:12 | Last updated: March 11 2009 21:42

The US raised the stakes in its drive for an aggressive response to the global financial crisis on Wednesday, calling for a tripling of the International Monetary Fund’s firepower and bigger fiscal stimulus measures worldwide.

Tim Geithner, US Treasury secretary, called for the radical changes ahead of the Group of 20 finance ministers’ meeting in the UK this weekend.

“Lots of things that did not seem realistic in the past are not just realistic but compelling,” he told reporters. “Forceful financial sector actions are critical to rebuild confidence, restore market functioning, get credit flowing again and bring stability to the global financial system.”

[TigerLikesRooster]

Another mind-boggling amount to disappear into thin air.

[TigerLikesRooster]

Ping!

[DemforBush]

For a second, I thought the headline was "US calls for tripling IDF firepower"

No such luck.

[Alter Kaker]

For a second, I thought the headline was "US calls for tripling IDF firepower"

The good news: So did President Achmedinejad, who had a heart attack while reading FR this morning.

[donmeaker]

And where would they get the money?

From the US.

[Wisconsinlady]

Is Geithner on crack?

[KoRn]

"For a second, I thought the headline was "US calls for tripling IDF firepower"

LOL!! That's how I read it too.

[dennisw]

Lets create some mo’ 0-money