Boy, this is really going to help the stock market...
<IMF going to allow nations to go "bankrupt."
Good news for Third World nations drowning in debt, bad news for banks, mostly in the U.S.
Can't say as I feel too much sympathy for the bankers, though. They were happy enough to take advantage of sweetheart IMF deals to make big bucks, not in a free market, but using a international government financial juggernaut to drag countries into the deals and the debt.
The IMF, like similar large governmental financial agencies, should never have been created. It would be nice if we could start dismantling it, and maybe if enough banks are hit hard enough, they won't back it any more.