By Sean O'Grady

Sometimes even I feel sorry for the PM. yesterday he flew in with what sounded like a great idea to reform the IMF: turn it into an "early warning system" for the world economy, alerting us to impending bubbles bursting and market crashes. Today though some senior public figures in the field of international finance and regulation made clear his idea was a non-runner: predicting market crashes is simply not feasible they say. They may be right. Poor Gordon.