Worst of Crisis May Be Yet to Come: IMF Chief

The IMF took a tough line against the globe's biggest financial firms Tuesday, advising its members to eliminate the risks they pose to the system after the worst financial crisis in a generation.In report which comes as key members of the International Monetary Fund ponder tougher financial rules for "too-big-to-fail" institutions, the fund said current proposals do not go far enough to prevent a repeat of the crisis."There was a flood of regulatory proposals that sprung from the financial crisis," according to IMF economist Juan Sole.

By Robert Guttmann, Professor of Economics at Hofstra University and a visiting Professor at University of Paris, Nord. Cross posted from Triple Crisis