RSS

I. Ros-Lehtinen, Foreign Affairs Committee | Septemer 22, 2008 The EU's plan to reward Syria with an "Association Agreement" is worrisome for several reasons. ++ Damascus not only sponsors Hezbollah and Hamas, it also follows Iran's approach to nuclear weapons in spite of its commitment to the Nuclear Non-Proliferation Treaty. ++ "European leaders should cease all further action toward an Association Agreement." ++ If the ...More

Editorial, The New York Times | September 19, 2008 Immigration remains an open problem in the US and is now on the campaign agendas. ++ Obama still supports the three pillars of extensive reform: tougher enforcement, expanded legal immigration and a path to citizenship to illegal immigrants who are already in the US. ++ McCain, on the other hand, is leading a party whose members mainly oppose the path to ...More

John Eatwell, Queens' College | September, 19 2008 The G7 finance ministers endorsed an approach to regulation in April, which stipulated transparency, disclosure, and strict risk management, i.e., nothing new. ++ This hackneyed approach will fail again. ++ Regulation hasn’t kept up with the last 30 years of market changes and is not needed except to enforce best practice. ++ Regulators must begin to use ...More

Chris Cook, Asia Times | September 19, 2008 Oil prices spiked to US$147 per barrel and then dropped to $90, demonstrating their dangerous volatility. ++ The US approach to oil price regulation is ineffective. ++ Global oil price benchmarks are now largely based on Black Sea crude oil (Brent), a relatively small reserve. ++ With increasing amounts of money invested in the oil market, speculation bubbles ...More

Philip Stephens, Financial Times | September 19, 2008 This is not the end of capitalism, but “the global financial system will never be the same again.” ++ Those responsible for the mess are now entrusted with cleaning it up. ++ Politicians had little choice: socialize the debt or sit and watch as depositors are sucked into the maelstrom. ++ The primary task of politicians should be to establish a ...More

UN Report, Süddeutsche Zeitung | September 19, 2008 The UN reports that the number of individuals around the world who go hungry has increased by 75 million in the past year to 923 million. ++ The UN attributes this to the rising price of food, fuel, and fertilizers. ++ Hunger has increased despite the fact that the last year witnessed more food production and more global wealth. ++ In response, the UN has begun ...More

Annette Heuser is executive director of the Bertelsmann Foundation Washington DC, a private, nonpartisan operating foundation, working to promote and strengthen transatlantic cooperation. Before launching the Bertelsman Foundation in Washington DC, Ms. Heuser served in the corporate sector as Vice President of International Relations at Bertelsmann AG in ...More

Editorial, The Washington Post | September 18, 2008 The new political agreement in Zimbabwe is a boon to President Robert Mugabe; he will retain the presidency, command the armed forces, and head the cabinet. ++ His opponent – and victor in the March elections – Morgan Tsvangirai, will take control of the disastrous economy. ++ At best, violence will wane and the starving will receive foreign aid. ++ ...More

Timothy Garton Ash, The Guardian | September 18, 2008 Due to the financial crisis, the attack on the US embassy in Yemen, and the latest tropical storms, the tone of the US presidential campaign has become nervous and angst-ridden. ++ Even if people who consider the economy to be the most important reason to vote for Obama, there is a "deeper politics of fear that runs against Obama." ++ While Obama offers a dream ...More

Roger Altman, Evercore Partners | September 18, 2008 We are witnessing the worst economic conditions since the banking shutdown of 1932. ++ After rescuing Fannie Mae and Freddie Mac, and reluctantly doing so with AIG, the Fed declined to bail out Lehman Brothers or Merrill Lynch; the Fed had to draw the line. ++ Buying assets for US bonds is one method of stabilizing these failing institutions. ++ The collapse of ...More