The IMF should provide emergency finance to help countries ward off global financial contagion.

BBC: Clinton urges global reform

American investors need to be aware that problems in the Eurozone will lead to global financial contagion, a worldwide recession and a possible repeat of a crisis like the one that followed the 2008 Lehman bankruptcy.

FORBES: Euro Crisis Will Only Get Worse And Do Serious Damage To Investors

During his time at the Fed, McDonough helped rewrite capital rules for banks and helped guide bankers' response to several global financial crises, including the Asian contagion of 1997 and the aftermath of the Sept. 11, 2001, terrorist attacks.

FORBES: Magazine Article

"We are still certainly worried about the risk of contagion from a further deterioration in global financial conditions, " Mr. Singh told a briefing that was webcast to Asia.

WSJ: IMF Says Asia Has Room for Stimulus

And if the financial crisis taught us anything, it is that contagion is endemic to the global market system.

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