IMF bolstered - topic of discussion during G20 talks

Coming from bloomberg -

" April 2 (Bloomberg) -- World leaders agreed on a regulatory blueprint for reining in the excesses that fed the worst financial crisis in six decades and pledged more than $1 trillion in emergency aid to cushion the economic fallout.

The Group of 20 policy makers, meeting in London, called for stricter limits on hedge funds, executive pay, credit-rating companies and risk-taking by banks. They also boosted the resources of the International Monetary Fund and offered cash to revive trade to help governments weather the economic and social turmoil. They sidestepped the question of whether to deliver more fiscal stimulus in their own economies.

The G-20 statement amounts to an effort to rewrite the rules of capitalism to address an integrated world economy that has outgrown the ability of individual governments to keep it in check. The group, which represents 85 percent of the world economy, devised a model for how finance should be regulated everywhere in a bid to prevent a repeat of the market turbulence which has roiled the world for almost two years. "

full article can be read here

Some pretty frightening quotes in my opinion. 'rewriting the rules of capitalism' in particular sends an eerie chill down my spine.

Apparently businesses arent equipped with the omniscience required to adapt to our new 'global economy' on their own because time has proven that entrepreneurial ingenuity cant keep up with emerging markets and technologies???

There is a very clear , almost glaring disconnect now between what our collective governments are planning for us (us as in the 'global' population) and what the people of each respective nation want. At least people in Europe still have the knackers to get out in the streets and make their distate known to the world.