Sunday, June 12, 2011

Dang it Stan...

Oh, Stan, Stan, Stan. By which I mean, "With all due respect Professor Fischer (have I said recently how much I liked your book?)..."

As stated in a previous post, I am all for Stanley Fischer as the new head of the IMF. There is no "but" there. There is however, a "however".

HOWEVER, I'm worried about the timing and the admission of "indecision" on his part. Lagarde and her competitor (my respect again to Carstens for chasing this windmill) have been making foreign visits already. The Europeans have thrown their hat in, and some one is dangling the World Bank post in front of Obama/Clinton "a la Blagojevich" ("I've got this valuable thing here...").

Things have certainly gotten more interesting, and my vote is for the qualified economist over the French spray-tan lawyer, but I've been feeling pessimistic these days. I really do not think there is anyone more qualified now in the running than Stanley Fischer. But I think he has lost valuable time sitting on his decision, when he should have been convincing heads of state that he's their man.

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