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...Senate, and he was eager to cut a deal for the sake of his legacy. He knew he needed GOP votes, and he figured that after a catastrophic meltdown, financial reform would be less polarizing than health care. And Corker did seem to be negotiating in good faith, even if GOP leaders were clearly eager to pull the football away before Charlie Brown could kick. (See 25 people to blame for the financial crisis...
...line on Wall Street, which could end up striking a political chord and persuading recalcitrant Republicans and unenthusiastic Democrats that they have to support it if they don't want to look like Wall Street apologists. Again, this is not a likely scenario; the health care experience suggests that even preposterous attacks on complex legislation can provide cover for opponents, and Republicans are already starting to portray tougher financial rules as a new Wall Street bailout. But this is at least a plausible scenario; a Harris poll released yesterday found that 82% of Americans support reforms. (See "Republican Surprise...
...power of the financial industry would be arrayed against it. There would be so many arcane moving parts - How much authority for the Fed? Should end users be exempt from derivatives regulation? Should something be done about naked credit default swaps? - that reaching consensus by August would be challenging even if everyone wanted it. And it's not clear that anyone is desperate to have it; there probably won't be another meltdown this year, and Democratic leaders may be content to let Republicans block reform so they can blast them as Wall Street shills in November...
...While the relationship between Indonesia and Australia has improved dramatically since Australia's intervention in East Timor in 1999, even Yudhoyono admitted this week that it's still one of "love-hate." Since the 2002 Bali bombings, Australian travelers to Indonesia now receive a travel warning which Indonesia says promotes an overly negative image of the country. In 2006 several Australian drug smugglers - dubbed the Bali Nine - were sentenced to life imprisonment after being caught planning to smuggle heroin from Bali to Australia. Three are currently on death row in Indonesia. The next year, an Australian coroner ruled that...
...Rudd seemed pleased with the course of the dialogue, but Yudhoyono warned there were still issues the neighbors needed to iron out. "There are Australians who still see Indonesia as an authoritarian country or a military dictatorship or as a hotbed of Islamic extremism, or even as an expansionist power," the Indonesian president said in his address. In a latter speech, he tersely criticized Australia's enduring travel warning to Indonesia: "We only know that Indonesia is now one of the top 10 tourist destinations for Australia, in spite of your government's advice against traveling to Indonesia." (See "Asylum...