Stories Economy & Trade from September, 2008
In Japan, people have seen the election of four Prime Ministers in the past two years. The process has been described as â€œremarkably well-governedâ€ because the professionalism of the so-called professional class, the bureaucrats who actually run the country. What would people say about the United States? Have the regulators, these so-called professional bureaucrats who work above the political fray handled the economy better than the political class?
With a little over two hours to go before the two US presidential candidates flex their muscles at their first televised debate, bloggers from around the world are busy registering their impressions on the candidates. Here's a reflection on Republican nominee John McCain. Is McCain totally 'out of control' or is he portraying 'cynical, dirty and politics at its best'?
Itâ€™s been 19 days since the Federal Housing Finance Agency became conservators of GSEâ€™s Fannie Mae and Freddie Mac; Eleven days since Bank of America purchased Merrill Lynch for the â€œbargainâ€ price of $50 million dollars and holding company Lehman Brothers had to file for bankruptcy; Ten days since the Federal Reserve spent $85 billion to rescue insurance corporation American International Group; Less than 24 hours since the FDIC seized bank Washington Mutual Inc., and sold its assets to JPMorgan Chase for $1.9bn; and nine days since the U.S. administration first proposed a Wall Street bailout of nearly $700bn. Following are some blog reactions from around the world.
In what U.S. Treasury Secretary admitted was a â€œhumbling, humbling timeâ€ for the country, Congressional members of Americaâ€™s two major political parties spent the weekend hammering out a rescue package for the nationâ€™s financial beleaguered system. The plan, if ratified as expected by Congress, calls on the U.S. government to spend up to $700 billion purchasing â€œtroubled mortgage assets of crippled financial firms.â€
With pessimistic views abounding on the economy, the two presidential candidates are pressured to each provide their strategy for exiting the crisis. Lova Rakotomalala brings us reactions from French speaking blogs.
The death of a postmodern novelist. Teetering Wall Street Banks. A hurricane wreaking havoc in Texas. Yet, the Jewish blogger PatriotMissive points out that the top five stories E-mailed from the New York Times this weekend are either accounts about Sarah Palin (who earns the top spots) or her running mate, John McCain. Is America â€” and the rest of the world â€” going election mad? Inquiring minds want know.
The Washington Post‘s PostGlobal is an effort to bring global issues to the mainstream. Calling itself an “experiment in global, collaborative journalism” the site, moderated by David Ignatius and Fareed...
Ernesto Cardenas, a Peruvian blogger who resides in Spain wrote a post [es] with some reflections on internet and religion and their role in the U.S. elections. He also makes a comparison of how this issue of religion was also present in recent Peruvian elections and concludes by saying that separation between church and state is maybe not as clear as we are used to in the U.S. Juan Arellano translates.