The Foreign Desk
It may be easy to mock, but if you saw a tiger lying in front of your car, chances are you too would panic and call the police. The problem for the poor man that did so in Aachen, Germany – according to Spiegel Online – is that the animal in question was not an [...]
It was a beautiful sunny morning, in November 2008, the day I wandered around site of the Union Carbide site in Bhopal. For the past quarter of a century, the 11 acre factory site had been largely off-limits to members of the public and permission from a local magistrate was demanded for anyone to enter.
The ignominious nature of Helen Thomas’ retirement as a White House correspondent at 89, as reported by our US Editor David Usborne today, put a sad and strange cap on a long and storied career. It also drew wider attention to an oddity of the White House press room normally only noted by the geekiest [...]
I have a suspicion that the good people of Goldman Sachs think that the good people of the Financial Crisis Inquiry Commission are idiots.
The great Vampire Squid has gone and shot itself in the tentacle by dumping 2.5 billion pages of internal documents on the FCIC, such a stupidly large quantity of information that it [...]
A jaw-dropping moment on business television here last week. Citigroup's director of economics and market analysis, Steve Wieting, was asked what an investor with a 20-year time horizon should put in her portfolio. His response: not shares, or even bonds, but cash.
Cash? That investors should just put their money under the mattress for two decades is [...]
How ironic that the most laughable provision in the Wall Street reform bill going through Congress should have been proposed by a stand-up comedian.
Al Franken, satirist and former star of Saturday Night Live, now a Democrat Senator, won bipartisan support for an amendment that puts a government regulator in charge of the credit rating process. [...]
We don't know all the causes yet of Thursday's bout of insanity on the Dow Jones Industrial Average, but this much is clear: regulators have lost control of the equity market.
If you've been bewildered and frightened by the complexity of the credit markets, where untold dangers lurked, undetected, until they exploded into the credit crisis, [...]
It has become almost taboo to criticise Paul Volcker, the former chairman of the US Federal Reserve, whose sepia-tinted plan to break up the banks has unfortunately become a touchstone of the debate on financial reform. If you are against the "Volcker rule", you must be for Wall Street, so watch out for pitchforks.
The rule, [...]
It's been a shamefully long time since I voted in an election. Truth be told, the last time I actually crossed the ballot box with my pencil was 1997, the year of the Blair landslide, when I was living in Cardiff and working for a regional newspaper. During the last two previous elections I was [...]
Excellent. Someone is calling Ed Whitacre, chairman of General Motors, on the outrageous, deceptive ads he is running on national TV here at the moment.
In the commercial, he says:
I’m Ed Whitacre from General Motors. A lot of Americans didn’t agree with giving GM a second chance. Quite frankly, I can respect that. We want to [...]
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