“Every day along the world’s busiest border, an expensive and time-consuming pantomime is acted out.” So begins the Economist’s coverage of the trucking agreement recently announced between Mexico and the United States. From that smart opening line the paper slips into an uncharacteristic fit of naïveté, arguing that Mexico stands to chalk major gains from […]
We know that the global banking system is riddled with corruption (‘vulnerable’ to corruption may be more polite), some authored by its own principals, some embraced opportunistically by financial insiders to snatch sudden profits, a great deal ushered into the world’s financial system by bankers in search of the commissions and corporate profits that ‘high net-worth customers’ (in many cases, money launderers) bring in. And sometimes the bad guys exploit legitimate financial service providers. But the question remains, and it turns on the distinction between deregulation and irregularity, between fair play and laissez-faire, between the right of the ‘haves’ to have still more, and the right of the people to real economic protection under the law.
At what point does financial entrepreneurship turn criminal, and how blind an eye is the US prepared to turn toward banking practices that clearly prosper the powerful and imperil the growing ranks of the poor, in the United States and across the world?
Here are some updates on the carbon-intensive Alberta tar sands projects. First, the FT’s “Energy Source” blog reports on recent analysis from Citigroup that says, among other things, “It is not a fuel source that sits naturally within a low carbon economy and is unlikely to be a strategic winner as climate regulation tightens, albeit […]
Let’s peel our eyes off of today’s Dow Jones Average for just a few minutes… March has marked a rather curious point in US-Mexican relations, causing many to raise a speculative eyebrow toward our new direction in international trade policy. Is President Obama beginning to draw a dangerously protectionist “line-in-the-sand” in an attempt […]
With the global economic crisis still dominating headlines following inconclusive results from Davos, I’d like to focus on two effects on Mexico’s economy. One indicator is remittances. Worldwide, remittances bring in several times more money than foriegn aid. In Mexico, these bring in the second-largest amount of foreign money after oil. In 2008, remittances slowed […]