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...News of plans by the U.S. and European governments to inject cash into troubled banks helped propel stock markets worldwide to record gains Monday and Tuesday. For the first time in weeks investors dared to hope that the financial meltdown may be abating. But budding optimism in Europe and the U.S. may not travel far. Emerging countries lacking the financial muscle to prop up their economies still face troubles ranging from slowing trade to food shortages. "In many developing countries, the most urgent crisis is not what is happening in financial markets but what has happened in commodity markets," says...
...nearly 25% of value off indices around the globe, formerly freaked traders scurried to buy back stocks as slow-moving political leaders responded in union to address the credit crisis. Outdoing Wall Street's 11% romp on Monday, the Nikkei shot up 14.2% Tuesday - an all-time record - making up for lost time after Monday's national holiday. But other Asian indices continued their previous climbs as well. Hong Kong's Hang Seng was up 3.2% over its 10.5% push Monday, while trading in Australia nudged 3.3% higher after a previous 5.1% jump...
...without dispute that Obama is pro-choice; he has a long record of opposing efforts that might limit legal access to abortion. To suggest, however, that Obama supported the death of children born alive after abortions is misleading. State law in Illinois, which Obama supported, has always protected the life of a child born alive after abortions, if doctors believed the child had a reasonable chance of survival...
...West by the day. Al-Qaeda has so far failed to replicate the devastating attacks of 9/11, and low-intensity efforts to keep Osama bin Laden on the run appear to have been effective. With the ebbing of public support for the war, and with casualties and costs reaching record levels, world leaders and military commanders are now clutching for solutions and exits, including possible power-sharing deals with Afghanistan's Taliban insurgents. Kai Eide, the U.N. special envoy to Afghanistan, said on Oct. 6 that "if you want to have relevant results, you must speak to those...
...nation's banking system. That was when President Francois Mitterrand nationalized banks in the 1980s. In fact, for a good part of the 1990s, the French budget was knocked sideways because of the losses incurred at just one state-run bank, Credit Lyonnais. The German state's track record in banking isn't much better. Regional governments own some of the dogs of the industry, like WestLB, and even the federal government isn't a brilliant manager. Last month, on the very day Lehman Brothers filed for bankruptcy, state-owned KfW sent a check to Lehman in New York...