Brother, Can You Spare a Billion?

Conventional wisdom says that the International Monetary Fund (IMF) functions as the de facto international lender of last resort (ILLR) for the global financial system. However, that premise is incomplete. Brother, Can You Spare a Billion? explores how the U.S. has for decades regularly complemented the Fund''s ILLR role by selectively providing billions of dollars in emergency loans to foreign e...