The Foreign Desk
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 [...]
The dispute regarding Arizona’s new law cracking-down on illegal immigrants has seen endless allegations of racism thrown around, principally by opponents who fear that it will lead to police harassment of anyone who happens to have olive skin.
Behind the scenes, though, the ongoing controversy is also sparking an ugly and increasingly tribal clash between members [...]
Only one of the three main UK political parties had NOTHING positive to say about the contribution of immigrants to the UK in their manifestos this election.
Can you match the paragraph with the party?
“Britain has always been an open, welcoming country, and thousands of businesses, schools and hospitals in many parts of the country rely [...]
Fatima Bhutto, the smart, stylish and charming niece of the late Benazir Bhutto has been getting some pretty good press of late for her new memoir Songs of Blood and Sword. Much of the book is taken up with the by now well-known saga of the feud within the Bhutto clan and of the chilling [...]
Every way you look at it, the fraud charges laid against Goldman Sachs are devastating for the investment bank.
While the public took up pitchforks against the company, and the media labelled it a "vampire squid wrapped around the face of humanity", Goldman maintained that its reputation with clients – the reputation that really matters – has [...]
The chairman of the US commission of inquiry into the financial crisis complains that $8m is far too little money for an investigation of this size and scope. He's right – but thank goodness he wasn't given any more. On the evidence of the past few days, it is clear that $8m is going down [...]
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