Word: baracks
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President Barack Obama is in Ottawa today for a private lunch with Prime Minister Stephen Harper, and the North-American economy is sure to be front and center. A softer "Buy American" provision in Obama's stimulus package that honors existing trade agreements such as NAFTA is sure to be discussed, as is the ongoing bailout of the North-American auto industry, which has deep roots in southern Ontario...
...sectors were also sharp decliners, with home construction stocks falling 9%. Both sectors, finance and housing, are at the heart of the goverment's efforts to address the financial crisis. On February 10 Treasury Secretary Timothy Geithner unveiled a multi-pronged plan for troubled banks, and on Wednesday President Barack Obama announced a $275 billion program to stem foreclosures and support the housing market. Today's stock market action suggests investors are still in doubt about the potential efficacy of both plans. Defensive stocks showed modest relative strength on Thursday: shares of consumer staple companies were...
...embattled PM may yet have one last hurrah. As the Nakagawa fiasco was playing out in Rome, Hillary Clinton was visiting Tokyo on her first overseas tour as U.S. Secretary of State. Clinton announced that Aso on Feb. 24 will visit Washington to meet with U.S. President Barack Obama. That Aso was selected as the first foreign leader to visit Obama's White House offers a ray of hope that the world's two largest economies are cooperating to solve the economic crisis. But the honor was hardly an unvarnished vote of confidence. During her Japan stopover, Clinton took...
...denying the grimness of newspaper arithmetic. But, like editor Nijenhuis and his colleagues at NRC Handelsblad, some are fighting back with clever reinventions of the format. Take NRC Next, which editorially is a mixed bag of analysis and fun. You may get a recycled profile of Barack Obama; if it's good on Tuesday, why shouldn't it be just as good on Wednesday? During a big soccer championship you might find a daily photo of a hunky player with an appraisal of his physique by Next's female staffers. What you won't find much of is news...
...Illinois A New Burris-Blago Brouhaha The U.S. Senate Ethics Committee and a local Illinois prosecutor have launched investigations into Senator Roland Burris' inconsistent descriptions of his contact with Rod Blagojevich before being tapped by the then governor to fill Barack Obama's Senate seat. Burris recently admitted attempting to raise money for Blagojevich months earlier--a fact he neglected to mention while testifying in Blago's January impeachment hearing. Though Burris has denied any wrongdoing, lawmakers of both parties have called for his resignation...