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...tests suggest since macroeconomic conditions are bound to be worse than the consensus anticipates, making the adverse scenario of the stress tests look mild. At this point in time, banks are still facing well over $1 trillion in losses over the next couple of years, even if low short-term interest rates make new loans very profitable. Moreover, according to RGE Monitor, real U.S. GDP growth will inch back into positive rates only toward the end of 2009 rather than at the beginning of the second half the year. That spells ongoing problems among borrowers...
...international stage, Bush dismissed Colin Powell's disciplined approach to foreign policy in favor of one that guaranteed the ending of tyranny for all mankind. By Bush's second term, the GOP's foreign policy objectives were so utopian that even Woodrow Wilson would have been aghast...
...should erase the shabby standards of financial oversight that have weakened us all in the age of Bernie Madoff. Corporate bailouts need to end - but Republicans must be determined to never again adopt a laissez-faire approach to Wall Street. After Black Monday, the Asian crisis, Long-Term Capital Management's meltdown, the Internet bust, the Enron scandal, WorldCom's collapse and the subprime crisis, there is nothing conservative about turning a blind eye to reckless speculation and greed...
...government in the capital and in the regions. But it's a potentially messy fix. Just as in Vietnam, the U.S. in Afghanistan finds itself fighting an implacable guerrilla foe on behalf of an unpopular government. And Karzai knows, as do his enemies, that America's appetite for long-term entanglement in Afghanistan is limited. They're positioning themselves for a post...
...state solution being championed by the Obama Administration. The problem, however, is that Abbas is plainly no longer representative of those on whose behalf he negotiates - and that means he has precious little ability to deliver on any promises he makes to the Israelis or Americans. His term of office formally expired in January, and that month's Israeli offensive in Gaza reduced his popularity to an all-time low. Were a new Palestinian election to be held today, it's doubtful that Abbas would even win the nomination of his own Fatah party, much less be able to beat...