IMF advisor: 'In The Absence Of A Credible Plan We Will Have A Global Financial Meltdown In Two To Three Weeks'

If this statement had come from some hedge fund flunkie or cable business news jock, it could safely be dismissed as an attempt to get attention and ratings. Instead, it comes from bail out expert Robert Shapiro who works as an advisor to the International Monetary Fund. Shapiro, according to Business Insider, is no financial gadfly: Aside from being an advisor to the IMF, Shapiro is the co-founder and chairman of Sonecon, LLC, and was formerly the U.S. Undersecretary of Commerce. He has a Ph.D. from Harvard, among other degrees, oversaw the Census Bureau, and has been a Fellow at Harvard, Brookings, and the National Bureau of Economic Research. If you've been reading a lot of business news from Europe lately, you have probably learned to read between the lines of what officials the European Central Bank, principles in government, and other experts have been hinting at. And that is, we are heading for a major league meltdown unless the euro states can come up with a plan to settle...(Read Full Post)