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When earlier this year Harper unveiled his 2009 budget, he agreed to purchase an additional $50 billion in government-insured mortgages from Canada's major banks, bringing the total since the program was announced late last year to C$125 billion. Indeed the country's minority Conservative government has staked its political fortunes on the so-called Extraordinary Financing Framework (EFF), intended to counter the credit crunch by providing up to C$200 billion in credit for consumers and businesses. (Read "Canada Faces Recession - and a Political Crisis...
...banker, played a major role in deals between airlines and unions in the early 1990s - facilitating employee givebacks in exchange for stock, for example...
...country for the past 30 years since the Soviets invaded, Afghans have become adept at accommodating themselves with the likely winner at any given moment. Right now, the trends are not moving in Washington's favor, and that fact is recognized by the Afghan citizenry. "There's been a major shift towards acceptance of the Taliban," military scholar Anthony Cordesman told a congressional panel last week. He noted that polling in Afghanistan shows "the number of people who feel the United States has performed well in Afghanistan has been cut in half in the last three years," from...
...thing, it's a good idea for the U.S. to have a better rapport with one of its major oil suppliers. Chávez, who said last weekend he's willing to meet with Obama, likewise seems to realize that his favorite Yanqui enemy, George W. Bush, is gone, and that a new relationship might be possible with his major oil customer. And as the Castro example demonstrates, it's hard to isolate a Latin American head of state when the rest of Latin America doesn't sign on - and most nations in the region are not willing to freeze...
Real change won't come easy. Two major players in restructuring the industry - major bondholders and the United Auto Workers (UAW) - have thus far shown little interest in renegotiating their agreements. Union locals in Michigan and New York have rejected proposals for contract concessions, and UAW chief Ron Gettelfinger has sensed the mood of his membership. He's not buying the claim that union costs are sinking the industry. Other labor leaders are watching Obama's reaction to the UAW to see whether the new President will stick up for his union friends. Meanwhile, business continues to tumble. Forecasters predict...