Word: crackdowns
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...week's events will cause a brain drain of salespeople, rank and file and middle management to non-TARP companies," said Scott Talbott, vice president of the Financial Services Roundtable, which represents Wall Street's interests in Washington. "The loss of these employees will weaken TARP companies." The compensation crackdown already has other private sector players thinking twice about partnering with the Administration to help unload the banks' toxic assets and get the credit markets moving. (Read "Freddie Mac: Government's New Black Hole...
...year's Beijing Olympics, and many western journalists saw scant sign of the Golden Shield, as the Internet was kept largely unfettered during the games. Restrictions have tightened again, however, especially since December, when democracy supporters used the Internet to circulate the "Charter 08" petition challenging the government. That crackdown, in part, has fed the grass-mud horse craze and similar online double entendres designed to flout the government's role as Big Brother. As one Chinese blogger told the Times, even with the most modern technology trying to hold them back, people will find a way to express themselves...
Despite a flurry of efforts to broker a truce, Pakistan's government and leading opposition politicians continue to stagger toward a head-on collision. As Washington and its allies watch with mounting anxiety, the government has broadened its crackdown, requisitioning troops and silencing a leading TV news channel. A senior government minister has resigned in protest over the media clampdown, but President Asif Ali Zardari appears unwilling to negotiate under pressure. And his chief rival, former Prime Minister Nawaz Sharif, is pressing ahead with preparations for a lawyer-led protest march due to arrive in the capital of Islamabad...
...members allege is an "orchestrated campaign" against them. In the lead-up to the long march, Geo and other channels endlessly taunted the government with footage of its election promises to restore Iftikhar Chaudhry, the chief justice sacked by Musharraf when he imposed the state of emergency. Once the crackdown began, there was blanket coverage of protesters being thrashed in the streets and hauled off to prison...
Analysts believe the crackdown will make Zardari even more unpopular, while boosting the standing of Sharif, a man once loathed for his own earlier attacks on the judiciary. "It's a very ominous turn of events," said Farzana Shaikh, a Pakistan expert at London's Royal Institute of International Affairs. "These are not actions that one normally associates with an elected government that has flaunted its democratic credentials." While she rules out a coup, Shaikh believes that Zardari's latest maneuvering will "create great consternation in the senior ranks of the army." General Ashfaq Kayani made a surprise visit...