IN BRIEF

Soros Proposes Global CO2 Fund

DECEMBER 11, 2009 by MIKE VAN WINKLE

“Mr. Soros suggested that rich nations finance climate subsidies for developing nations by tapping into some of the $283 billion in special drawing rights that the IMF issued to respond to the global financial crisis earlier this year. More than $150 billion of those rights went to the 15 biggest developed economies, he said. Special drawing rights, or SDRs, are a form of composite currency issued by the IMF to its members.” (Wall Street Journal, Friday)

Just call it the Global CO2 Slush Fund.

FEE Timely Classic:
“The International Monetary Fund” by Kevin S. Ewert