Word: congression
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...lawmaking. From outside the U.S., the prism through which American politics is viewed is normally that of the presidency. But that can be misleading. Article I of the Constitution is not concerned with the presidency at all (that's covered in Article II), but the legislature. In constitutional terms, Congress is a "co-equal" branch of government; it has real power, and so do its most significant members. Just as the wise men - Averell Harriman, Dean Acheson and the like - who remade international institutions at the end of World War II would not have been able to do what they...
...roughly equivalent to that of former President George H.W. Bush in 1991. Both speeches focused on themes of personal responsibility and controlling one’s own destiny. Few people seem to remember, however, that immediately after President Bush’s speech was given, a Democrat-controlled Congress ordered a General Accounting Office investigation, convened hearings, and summoned senior Bush officials to Capitol Hill to testify...
...track record as a mediator includes facilitating peace between South Africa's Zulus and Xhosa in 1994 and between warring factions in Burundi in 2005, has a blunter style. As Zuma prepared to depart for Zimbabwe last month, his aide (and secretary-general of his party, the African National Congress) Gwede Mantashe said Zuma "will be more vocal in terms of what we see as deviant behavior," adding all sides in Zimbabwe must understand they did not have the "luxury of adolescent behavior. You must be more mature. You must engage." (See pictures of South Africa, Fifteen Years...
...conglomerate. Before they found themselves under the same big tent, Wackenhut and ArmorGroup had competed for the U.S. embassy contract, which ArmorGroup won with a substantially lower bid. Now, Wackenhut has found itself managing the Kabul embassy contract anyway. In June, Wackenhut vice president Samuel Brinkley admitted to Congress, "We feel we can safely say that adequate guard services for the Kabul embassy cannot be provided for the contract price." Instead of making a profit, he said, the firm was losing $1 million a month. "We would welcome any help that the [Senate] Subcommittee [on Contracting Oversight, of the Committee...
...disappointing results follow a strong rebound by the market since May, after a decisive general-election victory by India's Congress Party boosted investors' hopes that the ruling coalition government would have the votes to push through key financial sector reforms and privatization. From May through Sept. 9, the Bombay Stock Exchange's benchmark Sensex index rose 42%, bouncing back from a 52% decline in 2008. As stocks revived, so did India's moribund IPO market. Since May, eight companies have raised about $2.5 billion in initial offerings; there was just one IPO in the first five months...