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What the world's big guns say about the meltdown
October 17, 2008
For the poor, the costs of the crisis could be lifelong. The poorest and most vulnerable groups risk the most serious -- and in some cases permanent -- damage. 100 million people have already been driven into poverty this year and that number will grow: Robert Zoellick, president, World Bank
Wall Street had it coming. . . The nature of America's financial crisis is the failure of Wall Street's business model in and of itself: Japanese columnist Hideo Tamura
We live in an interdependent world and the fate of all countries is related to the international financial system. Our value markets are opened to the world and, if they are affected, this will affect our capacity to finance our development. If the financial crisis causes a recession in the main economies, this will compromise our exports: Manmohan Singh, Prime Minister, India
The age of Reaganism is over. The no-regulation, low-taxes philosophy has broken the back of our economy: Former Harvard University economist Jeffrey Sachs, now special adviser to the UN Secretary-General Ban Ki-moon
Where was the IMF? This is the sort of crisis that should be at the heart of what the IMF was set up to do, but no one in the U.S. or in other G-7 countries seems to turn to the IMF for advice: Mohamed El-Erian, co-CEO, investment firm PIMCO, and a former IMF economist who was in the running to head the fund four years ago.
Image: World Bank President Robert Zoellick. | Photograph: Alex Wong/Getty Images
Also read: Financial tsunami swamps the world
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