September, 2008

Stories from September, 2008

To Bailout or not to Bailout?

It’s been 19 days since the Federal Housing Finance Agency became conservators of GSE’s Fannie Mae and Freddie Mac; Eleven days since Bank of America purchased Merrill Lynch for the “bargain” 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.

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Bloggers nod Biden and his comments

Democratic vice presidential nominee Joe Biden has further earned his nickname of “Foot-in-the-Mouth-Biden” as agreed by global bloggers. Here's a reflection from bloggers from Columbia, the Netherlands and Italy.

France: Understanding the Minorities’ Votes in Florida

It seems increasingly clear that Florida once again is going to be critical factor in the elections. Both Republican nominee Senator John McCain and Democratic nominee Senator Barack Obama know it. According to polls, the battle will again be very close. French blogger, Laure de Montalembert surveys the Floridian electoral landscape and tries to understand the factors that matter to Floridian voters.

Global: Scenes from a bailout

In what U.S. Treasury Secretary admitted was a “humbling, humbling time” for the country, Congressional members of America’s two major political parties spent the weekend hammering out a rescue package for the nation’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 “troubled mortgage assets of crippled financial firms.”

Chinese on China and the US Presidential Candidates

With about one-third of the world’s people and a growing economy, the presidential candidates cannot ignore the “middle kingdom” of China. Hoa Quach brings us the buzz from China.

Global: Support for Obama grows

Muslims for Obama. Asian Americans for Obama. Republicans for Obama. The World for Obama. And, the list of online supporters for the idealistic presidential nominee goes on and on. Hoa Quach highlights some of the conversations going on on those blogs.

Global: Hackers invade Palin's privacy

Republican vice presidential nominee Sarah Palin said “farewell” to much of her privacy yesterday, after a group called Anonymous hacked into her personal e-mail account. The invasion of privacy comes at a time when Palin and her husband are being questioned about the firing of Alaska’s former public safety commissioner Walt Monegan. Palin’s campaign manager released a statement saying: “This is a shocking invasion of the Governor’s privacy and a violation of law.” World bloggers agree.

Global: The Candidates on the Economic Crisis

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.

Yemen: Sixteen People Killed in US Embassy Attack

Sixteen people were killed when the US Embassy in Sana'a, Yemen, was attacked with a car bomb and rockets today. One blogger was minutes away from the explosions.