The substantive difficulties in these crises, as with others, were identified well in advance but were suppressed here. Timely sustained warnings were of the essence. So the failure of the Fund to issue them is a failing of the first order, even if such warnings may not have been heeded.
More:
http://www.dewereldmorgen.be/sites/default/files/attachments/2012/07/24/doyle_letter.pdf
