To the list of institutions and individuals who totally screwed up the global economy — and the lives of tens of millions of people — let us now read the mea culpa of the International Monetary Fund. But, this isn’t a mea culpa in the sense of “we didn’t understand”. It’s an admission of “we didn’t care what other people said, we didn’t listen, we did what we wanted and none of us will pay the price”. The fucking arrogance.

So you goofed, huh?

The International Monetary Fund released an internal report on Wednesday that sharply criticizes its first bailout program for Greece, the latest in a series of partial mea culpas as the fund reassesses the austerity that it has insisted on for ailing, debt-plagued economies.

The 50-page report, titled “Greece: Ex Post Evaluation of Exceptional Access Under the 2010 Stand-By Arrangement,” acknowledges major mistakes in Greece’s first bailout, which totaled about $143 billion and came into effect in 2010. The fund bent or broke three out of four of its own rules with the lending program, the report concludes. It also seriously underestimated the severity of Greece’s downturn.

The only thing new here is that it underscores the sheer arrogance of the elites. If you had any inclination to stop for a moment and question entirely foolish ideas — the main one being that a government should gut public spending in the middle of a full-blown financial collapse — this should never have happened.

But, the IMF and the entire gang is just hell-bent on believing its own blind ideology.

The big question now: how does the IMF compensate all the Greeks who paid a very harsh price for this mistake?