The latest from Davos: global bank regulators unite to urge large banks to embrace reform. Regulators also endorsed the more aggressive efforts by the U.S. (Obama) administration.
The latest from Davos: global bank regulators unite to urge large banks to embrace reform. Regulators also endorsed the more aggressive efforts by the U.S. (Obama) administration.
The deeply insidious influences of French, American and other European allies long history of imposing trade embargoes, economic isolation and financial dependence on Haiti after its 1791 slave revolt lies at the very center of why the island nation continues in its economic dysfunction to this day.
Daily update of talking points, central issues being discussed in Davos’ World Economic Forum 2010 by world leaders in politics, finance, central banks, corporate, energy, lobbyists and philanthropy.
The World’s leading banking and finance executives, industry regulators, and billionaire investors like Warren Buffet and George Soros – the Wall Street crowd writ large – will head to the annual World Economic Forum held in Davos, Switzerland this week. On the agenda will be efforts to challenge US President Barack Obama’s efforts to reform the financial industry.
Finally capitulating to voter outrage, and the very kind of “Change” he campaigned on last year, President Obama proposed tough new financial industry restrictions under what he called “the Volcker Rule” – named after Paul Volcker, the former Fed Chair.
Dr. Martin Luther King’s views on economic justice at home, and questions about U.S. relations abroad, raised important democratic and constitutional questions about whether or not U.S. foreign policy decisions that exclude the values, traditions and perspective of a large, important and influential segment of its society can truly ever reflect “American” national interests..?? In the context of an Obama presidency, and what it means for the future of our nation, this question is one that must be addressed.
Although most projections show a continuation of positive growth in 2010, questions about the strength and sustainability of the recovery remain. To provide an economic outlook for the new year, the Carnegie Endowment on 5 Jan, hosted a distinguished panel of the heads of the economic forecasting unit at their respective organizations.
While it appears that China’s success and emergence is unsettling to many and is becoming the source of American angst toward China, rather than resent the shift of economic power from West to East, we may have something to learn from their ancient civilization.
Following the lead of Europe’s approach to their financial industry reforms, the Obama Administration in coming weeks is poised to take a more aggressive stance with the financial industry. In response to the proposed measures, Edward Yingling, President & CEO of the American Bankers Association (ABA), the banking sectors powerful industry lobby, said “It is perplexing to us,” why taxpayers are outraged about the bailouts and other financial indsutry behaviors.
According to an interesting empirical study commissioned by Capitol Hill’s weekly newspaper and the leading publisher of the nation’s legislative record, Congressional Quarterly, President Obama has accummulated an impressive string of legislative accomplishments unrivaled by any previous POTUS.
Based on the most recently available information on foreign direct investment (FDI), by nation, the Palestinian state has experienced an unexpected surge in its economic growth in 2009, and a burdgeoning effort to attract foreign investors and entrepreneurs.
China sold more than 13.5 million vehicles in 2009, the official Xinhua news agency said on Friday, overtaking the United States to become the world’s largest auto market as China’s government stimulus policy initiatives spurred demand.
An arm of the Federal Reserve, then led by now-Treasury Secretary Timothy Geithner, told bailed-out insurance giant AIG to withhold key details from the public about overpayments that put billions of extra tax dollars in the coffers of major Wall Street firms, most notably Goldman Sachs. The sordid tale unfolds in a series of e-mails between the company and the New York Fed while Geithner was its president.
On Wall Street the past year was filled with one opportunity after another to fix the myriad fundamental structural deficiencies — revealed all too painfully by the financial crisis — that continue to plague the nation’s economic outlook. But as we enter 2010, not a single one of the “systemic failures” in the financial system has been adequately addressed, let alone resolved. This ongoing failure to act in the face of the worst economic downturn since the Great Depression is especially disappointing since President Barack Obama was elected, in part, on a promise to bring constructive and lasting change to the canyons of Wall Street.
WHEN CHINA RULES THE WORLD: The End of the Western World and the Birth of a New Global Order By Martin Jacques, Penguin Press (2010). Historians may someday debate whether the financial crisis that began a year ago is most notable for how much damage it did to the United States, or how little […]