Any increase in funding of the IMF, which is already under-funded, has to be approved by the U.S. Congress. Anyone think ‘Mericans are going to approve sending hundreds of billions over to Italy?
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No. Absolutely not.
Unless one assumes that the House is able to make a profit off the approval. (immune to insider trading laws.)
The majority of House members are not savy enough to know what to buy if it was approved or how to buy it.
(IMHO)
What would you buy?
I thought a similar rumor came out last week, with the same outcome (i.e. US won’t agree to it).
So when is the first judgement day for the Euro Crisis? I’m sick of the rumors and just want to know what their final date is before one member has to default.
Nothing is going to happen, band-aids or otherwise, until zero hour.
http://www.creditwritedowns.com/2011/11/imf-ecb-italy-600-billion-euro-bailout.html