Word: fates
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...punish those guilty of corruption. The message from the Palestinian legislature, and from the streets, is that they want Arafat, but not the Arafat they've had until now. They don't want his hands on all the levers that will determine Palestinian national life and the national fate, and they don't want his cronies anywhere near those levers. But Arafat has an unhappy history of ignoring his legislature...
...fate of Palestinian reform depends on three factors: Arafat's willingness to relinquish his almost monarchical grip on Palestinian institutions and accept constitutional limits on his role; Israel's willingness to end its de-facto reoccupation of PA territory in the West Bank; and the willingness of the international community to apply pressure in pursuit of the first...
...everyone is so gloomy. Barton Biggs, chief global strategist and longtime bear at Morgan Stanley, says the "lows should hold, but it will be scary." Richard Bernstein, market analyst at Merrill Lynch, expects the NASDAQ to drop to new lows. He sees the broader market avoiding that fate yet delivering subpar returns for the next few years. He and others are concerned that many stocks remain expensive relative to earnings. The S&P 500 trades at 28 times last year's earnings. A multiple of 18 to 20 would be normal coming out of a recession. Investors normally focus...
...preclude the two-state solution being pursued by Washington. And while Secretary of State Colin Powell is calling for an end to settlement activities in the West Bank and Gaza, Sharon continues to insist that the settlements are sacrosanct. A little over a week ago, he proclaimed that the fate of Netzarim (a remote settlement in Gaza where hundreds of soldiers guard a few dozen families) is the fate of Tel Aviv...
...deal with Arafat, and that the Palestinian Authority needs to be reconstituted in a form more palatable to Israel and the U.S. But while the Bush administration is sympathetic to Sharon's loathing of Arafat, it is also aware that there are no alternative interlocutors with whom the fate of the Palestinians can be credibly negotiated...