Word: nationalizes
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Democratic sources say President-elect Barack Obama will name former University President Lawrence H. Summers director of the National Economic Council—essentially the president’s senior economic advisor—according to news reports this weekend. Once a top contender to be Obama’s Treasury secretary, Summers, who led the Treasury under President Clinton from 1999 to 2001, will be advising the president on both domestic and foreign economic policy. He will likely be working closely with Obama’s nominee for Treasury secretary, Federal Bank of New York President Timothy F. Geithner...
...Thomas Jefferson once noted that a nation that expects to be ignorant and free expects what never was and never will be. Then again, he didn’t have Google...
...Furthermore, aid and increased immigration are not necessarily substitutes: They can be coeval. More immigration coupled with aid—albeit less than the $70 billion currently spent—would bring even more gains to the Southern Hemisphere without hurting the OECD. In any case, citizens of developed nations should grasp the economic benefits. Some, like Sachs, might say that allowing people from destitute places to migrate doesn’t help them where it counts: at home. This Washington Consensus logic asserts that immigration-friendly policies prevent poor states from developing their own economic infrastructure. But perhaps...
...Mexico's police forces. So deep, broad and brazen is cop corruption south of the border that removing it makes eradicating rats from landfills look easy. Mexico stages quasi-annual purges of officers high and low - last year it was 284 federal police commanders - and yet every year the nation seems to find itself with an even more criminal constabulary. This year's scandals, however, are especially appalling...
Mexico's real carnage, meanwhile, gets ghastlier by the day. This year the nation has logged some 4,300 drug-related murders, and analysts fear that Mexico could double last year's record of 2,500. The spike in killing is largely due to the war Calderón declared last year on the drug cartels. He has deployed more than 25,000 federal army troops in the campaign, but the narcos have lashed out with insurrection-style violence against a harrowing number of law-enforcement officials, from beat cops to top cops like Millan, as well as prosecutors...