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...More Things Change ... Re "How the Taliban Thrives" [Sept. 7]: Our involvement in Iraq and Afghanistan is comparable to placing one's hand in a pail of water. When you stick your hand into the water, you create an effect. When you pull it out, the water returns to its original state. While we occupy those countries, we suffer casualties and financial disaster. Once we leave, everything will return to the way it was before: tribal wars, traditions and culture. We will have accomplished nothing. You cannot change thousand-year-old cultures into democratic states in a few years...
Coup de Glace Re "The French for Entrepreneur" [Sept. 7]: I live in France and I hold one of the government's new auto-entrepreneur licenses to sell cold drinks and ice cream from a tricycle. While I congratulate the government on its new initiative, once you clear away the "jungle of administrative red tape" there are still the local traditions to deal with. Permission to trade has to be sought from each mairie. I applied to 11 and got permission to trade from only one. Even my local village has refused me. France may have rediscovered the word entrepreneur...
...After months of behind-the-scenes debate, these issues will be the elephants in the room at the G-20 summit meeting of major economic powers due to take place in Pittsburgh, Pa., on Sept. 24-25. Diplomats and analysts say that a growing convergence among nations on the technical details surrounding greater industry oversight may paper over a divisive philosophical gulf. The U.S. and Britain, with their instinctive support and dependence on free-market finance, are increasingly at odds with France and Germany, who are more skeptical about the benefits of unfettered capitalism and hope to win votes...
...operations so heavily that they would turn into low-risk utilities. No, said Jean-Claude Trichet, the president of the European Central Bank, that wouldn't solve the problem. What's needed, he argued, "are air bags, cushions and shock absorbers." Trichet has now detailed what he means. On Sept. 6, a group of central-bank governors and regulators from 27 countries that is chaired by Trichet published specific proposals that he said would "set new standards for banking supervision and regulation at a global level...
...head of the Association of German Banks, says "it's not up to the state to decide what banks pay their employees or managers." But like other issues on the table in Pittsburgh, this is a battle bankers are likely to lose. In a speech on Wall Street on Sept. 14, the anniversary of the failure of Lehman Brothers, President Barack Obama warned the banking industry not to fight reform. "We will not go back to the days of reckless behavior and unchecked excess at the heart of this crisis, where too many were motivated only by the appetite...