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Gregory S. Gordon

I am an alumnus of Rochester Institute of Technology where I achieved a bachelors of science in both Economics and Finance. During my time at the university I worked briefly at both a renowned full-service brokerage and a proprietary trading firm. This combination of university education and professional experience has subsequently created a deductive, independent, and rational mental framework as it applies to the intersection of these fields. In my continued analysis and research into Economics and Finance I have been driven in the attempt to publish and distribute works of original thought in pursuit of enriching individuals' decision-making process.

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IMF Requests $500B For Bail-Out Loans

Posted by Gregory on 2012/01/18

It comes to me as no surprise that the financial socialization in Europe has been working so well that the managing director of the International Monetary Fund (IMF), Christine Lagarde who is also the Finance Minister of France has requested an additional one-half trillion dollars. This in her own words according to the Financial Times is, “…ensuring adequate fund firepower to help defuse the current global economic weaknesses and regional challenges.” Evidently, almost two years of solutions is not enough or they were just poorly constructed solutions. Perhaps, this could this have something to do with the recent downgrade of the European Financial Stability Facility on Monday?

Europe seems to be only creating further layers of financial bureaucracy after its previous layer failed to achieve its purpose with no perspective on the issue. The European Union (EU), through the IMF is furthering not a closer fiscal union but a system of sovereign transfer payments and re-distribution of capital. It is akin to parents paying for their children’s credit spending instead of telling them to cut their liabilities and increase their revenue. I think it continues to be a more divisive manner within the EU rather than the intended effect. This is the result of privatizing gains (i.e. EU membership benefits) and socializing the risk (i.e. sovereign fiscal default) by those weaker member countries like Greece, Italy, Spain, and Portugal.

Beattie, Alan (2012, January 18th). IMF requests $500bn for bail-out loans. Financial Times. Retrieved from http://www.ft.com

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