Tag Archives | International Monetary Fund

IMF Hacked Suffering ‘Very Major Breach’

IMFhackedDavid E. Sanger and John Markoff write in the NY Times:

WASHINGTON — The International Monetary Fund, still struggling to find a new leader after the arrest of its managing director last month in New York, was hit recently by what computer experts describe as a large and sophisticated cyberattack whose dimensions are still unknown.

The fund, which manages financial crises around the world and is the repository of highly confidential information about the fiscal condition of many nations, told its staff and its board of directors about the attack on Wednesday. But it did not make a public announcement.

Several senior officials with knowledge of the attack said it was both sophisticated and serious. “This was a very major breach,” said one official, who said that it had occurred over the last several months, even before Dominique Strauss-Kahn, the French politician who ran the fund, was arrested on charges of sexually assaulting a chamber maid in a New York hotel.

Read the rest

Continue Reading · 6

French Press Publishes Dominique Strauss-Kahn Accuser’s Name & ‘Photos’

Flag of FranceVive la France! Wait, what? David Case writes on globalpost:

Here’s a story that illustrates the chasm between how France and America handle men, women and rape.

The French elite are outraged over what they see as American vulgarities surrounding the treatment of Dominique Strauss-Kahn, the former IMF chief and putative 2012 presidential frontrunner, accused of raping a 32-year-old Sofitel chambermaid in Manhattan last weekend.

Among the “barbaric” American practices under critique by Parisians: showing photos of the accused in handcuffs; marching him through a scrum of photographers on the way to court; and pillorying him tabloid style — the NY Post called him “a horny toad,” for example. As GlobalPost has reported, French law restricts some media coverage of alleged perpetrators prior to conviction, including publication of images showing the accused in handcuffs, to preserve the dignity of the innocent.

Continue Reading · 6

IMF Prepares For “Threat To International Monetary System”

IMFTyler Durden writes on Zero Hedge:

There is a new threat to the international monetary system which means Europe May 2010 redux is imminent. US taxpayers: our condolences.

Back in April 2010, before Waddell and Reed sold a few shares of ES, effectively destroying the market on news that Europe was insolvent, we made the following observation: “The IMF has just announced that it is expanding its New Arrangement to Borrow (NAB) multilateral facility from its existing $50 billion by a whopping $500 billion (SDR333.5 billion), to $550 billion.” Little did we know that our conclusion “something big must be coming” would prove spot on just a month later after Greece, then Ireland, then Portugal, and soon Spain, Italy, Belgium, and pretty much all other European countries would topple like dominoes tethered together by a flawed monetary regime. Well, based on news from Dow Jones we can now safely predict the following: “something bigger must be coming.”…

For more information, see original article.… Read the rest

Continue Reading · 8