'Overconfident' IMF downplayed risks in run-up to financial crisis

International Monetary Fund failed to spot looming crash and praised US and UK financial regulation, says damning report A damning report on the International Monetary Fund's failings in the run-up to the global financial crisis has blamed "groupthink" and "intellectual capture" for the inability of the Washington-based organisation to spot Britain's looming banking crash. The body set up to ...