IMF Top Job: Thank GOD Fischer was disqualified

If you could recall, the top IMF job was vacated by Frenchman Dominique Strauss-Kahn, who resigned after his arrest on 14 May on charges of attempting to rape a New York hotel maid, that news even prompted Malaysian politicians to draw parallel the case of Anwar Ibrahim, whereby they suggested that he should follow suit and resign from all his posts. That aside, I am more interested in the IMF. According to the Daily Telegraph, the IMF disqualified Bank of Israel governor Stanley Fischer because of his age, IMF rules state an age limit of 65 for a first-time managing director, but Fisher is 67 years old.There was indeed some pressure for the IMF to change the rules to accomodate Fisher, but thank GOD they didn't bow to those pressures, and the dignity of IMF seems to be more or less restored.With the disqualification,  IMF short-listed their final candidates for managing director position to French Minister of Finance Christine Lagarde and Agustín Carstens, Governor of the Bank of Mexico, but even Cartens have acknowledged that Lagarde is the front runner.

Fischer announced a formal bid to head the IMF at the weekend, saying his training as an economist would be an advantage to the candidacy. Who is this guy Fisher, and why am I rejoicing the news that he is disqualified? He is the former IMF deputy chief, on top of that, He has held several leading positions, including at the World Bank and Citigroup, and has headed the Bank of Israel for the past six years.Prior to taking up his position at the IMF, he was the Killian Professor and the Head of the Department of Economics at MIT (Massachusetts Institute of Technology).He has held visiting positions at the Hebrew University, Jerusalem, and at the Hoover Institution at Stanford.But he is not to be confused or related with Fisher Hypothesis, that is Irving Fisher.He has been widely credited with enabling the country to largely escape the global economic crisis. Unemployment in Israel is just over 6 percent, and the real estate sector is booming.

Whatever his credentials are, I wouldn't want an Israeli to head the IMF, ......sorry guys....the risk is just too high...I wouldn't want to even think about it.....ciao....a.h.baharom