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...says Raymond Baker, executive director of Global Financial Integrity, the capital-flight argument is similar to the businesses' objection to the 1977 Foreign Corrupt Practices Act, which outlawed overseas bribery. U.S. businesses would be at a competitive disadvantage, it was warned. Over time, though, America's example set a new global standard. Argues Baker: "There would be no net loss to the U.S. economy by eliminating secrecy. On the contrary, the more we can do to make the U.S. economy transparent, the more we can strengthen [it], and the more we will attract money from overseas...
...individual, a business owner or an entire state and you build your debt level to 70%, 80%, 90% of your revenues, you soon won't be able to pay the interest on your borrowing - much less the principle - and you'll default," says economist Marc Touati, deputy director of the Paris-based financial-services group Global Equities. "We're not there yet, especially for all the nations of Europe. But there are several, including France, that simply must cut spending, deficit and debt dramatically, and soon - or things will get very ugly." (See the worst business deals...
Taken at face value, the accord pledges demonstrate an international will to act on global warming and energy, even in the absence of a true international treaty. "All the major economies are off and running," says Keya Chatterjee, acting director of the U.S. World Wildlife Fund's climate-change program. (See the World Future Energy Summit...
...sticky tack is one Obama has repeatedly said he'd rather not use. "There's increasing concern that if we don't get it together in the U.S., we will lose the clean-energy markets and jobs and growth that come with [a carbon cap]," says David Doniger, policy director at the Natural Resources Defense Council's climate center...
Harvard College Director of Financial Aid Sally C. Donahue noted that the College does not participate in the Family Federal Education Loan program, the bank-subsidizing program Obama has proposed ending. She added that the College’s financial aid consists of grants rather than loans. However, she said that many Harvard graduate students receive federal loans and stand to benefit from the new policies...