Read the passage and answer the question: The United States of America, the European countries and the world are facing an unprecedented financial crisis. Big banks and financial institutions are collapsing one after another. The World Bank (WB) and the International Monetary Fund (IMF) pressurize developing countries to go for economic development and financial reforms. Both the institutions spend a lot of money to implement their suggestions. But what is the result? It is difficult to understand how the banking system in the developed countries is crumbling. The US government had to pump billions to bail out the banks, insurance companies, and financial institutions. The market economy is not working. Why should the developing countries listen to the WB and IMF when the prescriptions of the developed countries are not working in their own countries? These two multinational institutions have done great harm to the world. The US has spent billions of dollars on unwanted wars in Iraq and Afghanistan. The US has spent billions of dollars of tax payers' money for destructive purposes. Do the US people endorse such unjust work? Do they approve such wastage of the tax payers' money? Who will fund the staggering bailout? The recession has slowed down everything in the US. Americans now earn less, and they can afford less. Many have lost their jobs. The US, a traditional donor for the poor and developing countries, will not be able to help them in a big way. Due to less contribution from the US, the capacity of the WB and IMF to the developing countries will shrink. The fall in employment and production could take long to solve. How far the prescriptions of the World Bank and IMF consulting teams to switch over to private sector banking provide good results to Bangladesh and other countries is an open question. — All of the following statements about the present state of the US economy are true except: