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Conservatives who hoped the Bush team would leave a legacy of smaller government, freer markets and fewer regulations can officially kiss that hope goodbye. Government officials report that the President, whatever his ideological reservations about the Treasury's next move, cleared the way for the bailout in the face of what looked like certain economic meltdown...
...Asia's financial systems "are not expected to face a crisis situation," according to a Standard & Poor's report released this month. The primary reason is that the region's banks had little need to dabble in high-risk U.S. mortgage investments. With economies roaring at home, they found ample opportunities for profit. "They had a lot better things to do with their money," says Deborah Schuler, group credit officer at Moody's in Singapore. "There is real growth in Asia and they were financing...
...Your report on Sasol got me thinking about racism and democracy. Barack Obama's selection of Joe Biden as running mate shows wisdom in balancing his own weaknesses (political and governing experience and foreign policy). Aging and angry John McCain picks young Sarah Palin, ambitious but inexperienced and not remotely qualified for a position that demands brave yet sensible world leadership. In South Africa, our precious 15-year-old democracy is dominated by a single party that has chosen a leader with no governing track record, intent on quashing a state case against him for fraud. This same government, notes...
...purpose of this report is to try to stimulate discussion and to try to reach consensus,” he said. “And any time you try to reach consensus, you’re not going to really stir things up, you’re not going to make waves, you’re not going to do something really bold...
...Afghani village of Azizabad was an exception. Working under the information that a Taliban commander was in the area, bombs were dropped in the village as a large crowd milled the streets mourning the death of a local leader. Devastation resulted—though an initial U.S. investigation reported five to seven civilian casualties, a later U.N. probe revealed that the number was closer to 92, a number that included the mutilated remains of many women and children. As this sobering report makes clear, the United States still has much work to do in Afghanistan, where the number of terrorist...