Word: reformations
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...historical basis for creating a Read/Write culture: Lessig resurrects the testimony of American composer John Phillip Sousa, who went before Congress in 1906 to discuss copyright reform: "When I was a boy ... in front of every house in the summer evenings you would find young people together singing the songs of the day or the old songs. Today you hear these infernal machines going night and day. We will not have a vocal chord left.'" As Lessig explains, "Sousa was not offering a prediction about the evolution of the human voice box. He was describing how a technology ... would change...
...Restore confidence through regulatory reform. Underlying the problems are banks' bad decisions and regulatory failures. These must be addressed if confidence in our financial system is to be restored. Corporate-governance structures that lead to flawed incentive structures designed to generously reward ceos should be changed and so should many of the incentive systems themselves. It is not just the level of compensation; it is also the form - nontransparent stock options that provide incentives for bad accounting to bloat up reported returns...
...even if the E.U. can still honor the spirit of its climate change commitments, they might have to be scaled down, according to Simon Tilford, chief economist at the London-based Centre for European Reform (CER). "It was always going to be tough, but it is now much, much harder," he says. "It would be too pessimistic to say the whole agenda will be derailed. But it is difficult to see how it can be kept on track in its current form...
...monitoring, baffled regulators and investors alike and raised hob with markets worldwide. What is now manifestly needed is a round of creative institutional invention like what the New Deal gave us. Then history will have repeated itself neither as tragedy nor as farce but as common sense and consequential reform...
...miles today.) McCain - henpecked by an incumbent he never liked, a dire economy he can't control and a newcomer with less baggage than the Tooth Fairy - suddenly seemed free from worry. He remembered his years as a leading man in those dramatic episodes of yesteryear - campaign-finance reform, the Gang of 14 - and he was glad to reprise his role as The Fighter. For the first time since the Republican convention (just six weeks ago, though to him it must feel like years), John McCain was in control of the narrative...