Stan is still the Man.

Disqualified for being too old. I must admit, I fully expected the IMF to go ahead and consider his candidacy after a review and a vote. I like Dr. Fischer for the job, but "thems the rules" and it was the call of the board and they made it (right or wrong).

I do see this as a signal though that certain governments have already decided how this is going to go. Lagarde will be head of the IMF, and the Euro zone can continue to use it as their piggy bank for as long as their currency is in crisis. An American will become the president of the World Bank (90% certain it will be Clinton- I smell a deal, and let's face the facts that Blagobamavich is just another corrupt Chicago deal maker), and the US will continue to treat the World Bank in much the same way USAID is a "development" institution.

I am curious what Dr. Carstens is doing. The man describes his position as having to try to win a soccer match when your opponent has 5 and you have 0. That does not sound like a man who expects to win this fight. Is this a maneuver for more power and influence in the board? Is he vying for some kind of popularity at home? Or is he really ready to smash face first into this windmill on principle alone?

Parting though: why do people waste time on 9/11 or Area 51 conspiracy theories, when one is unfolding right in front of us and has unsettling and long term implications for the world economy? Ask yourself this one question, think about it, then Google it: Where does the IMF funding come from? Now think about where the IMF funding goes.