Possible IMF trajectory

ARTICLE: A Bigger, Bolder Role Is Imagined For the IMF, By Anthony Faiola, Washington Post, Monday, April 20, 2009

A fascinating glimpse at how the IMF may be reborn through this crisis into a financial equivalent of the UN or the WTO, just not with the same punitive powers of either (which are always weaker than they appear to be). The big thing is, we're looking at the rise of repository of new rules for the global financial system. The crisis, as always, revealed huge gaps in rules, and while the major economies are in no hurry to make new ones happen that might restrict their sovereignty, they are acknowledging the need for some process and institutional center of gravity for such rules.

To me, this is a good thing, especially since the key decision-making locus is the G-20.