Founder says IMF system should work

November 13, 2008

The last known surviving member of the architects of the global financial system says poor supervision of banks is behind today's crisis. Jacques Polak, one of the 700 delegates to the 1944 Bretton Woods conference that led to the creation of the World Bank and International Monetary Fund, says calls for a shake-up of the global system are politically appealing but not the solution.