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New York Times (May 22)

2010/ 05/ 23 by jd in Global News

“Weak regulation is a recipe for disaster,” so the New York Times applauds the senate for finally passing a financial regulations bill. The work of Congress is not yet done. The House and the Senate must now work out the differences between their bills. Then, the joint version will require passage by both bodies. During the reconciliation process, revisions should be made to better protect investors, restore confidence in financial markets and avoid another meltdown.

“Weak regulation is a recipe for disaster,” so the New York Times applauds the senate for finally passing a financial regulations bill. The work of Congress is not yet done. The House and the Senate must now work out the differences between their bills. Then, the joint version will require passage by both bodies. During the reconciliation process, revisions should be made to better protect investors, restore confidence in financial markets and avoid another meltdown.

 

The Times (May 21)

2010/ 05/ 21 by jd in Global News

North Korea is “evil.” The Times condemns the “gangster regime” for sinking the South Korean navy ship, the Cheonan, and the deaths of 46 sailors. “The unprovoked firing of a torpedo in South Korean waters was an act of aggression that fits a pattern of state terrorism and fanatical xenophobia.” The Times calls for “strong, wide and unified” international condemnation. Moreover, there should be no negotiating with North Korea as “the violence and duplicity of the North Korean regime are notorious,” making negotiation “worse than useless.”

North Korea is “evil.” The Times condemns the “gangster regime” for sinking the South Korean navy ship, the Cheonan, and the deaths of 46 sailors. “The unprovoked firing of a torpedo in South Korean waters was an act of aggression that fits a pattern of state terrorism and fanatical xenophobia.” The Times calls for “strong, wide and unified” international condemnation. Moreover, there should be no negotiating with North Korea as “the violence and duplicity of the North Korean regime are notorious,” making negotiation “worse than useless.”

 

The Economist (May 20, 2010)

2010/ 05/ 21 by jd in Global News

Despite a massive $950 billion rescue plan, investors “remain nervous” about the euro. More worryingly, European leaders remain confused. Major changes are necessary to save the euro: “How sad that most euro-zone governments still do not seem to get it; how pathetic that they cover their ignorance by blaming hedge-fund managers in London.”

Despite a massive $950 billion rescue plan, investors “remain nervous” about the euro. More worryingly, European leaders remain confused. Major changes are necessary to save the euro: “How sad that most euro-zone governments still do not seem to get it; how pathetic that they cover their ignorance by blaming hedge-fund managers in London.”

 

Washington Post (May 19)

2010/ 05/ 20 by jd in Global News

In America, climate change legislation took a backseat to health care reform and financial regulation. The Post says that Senators John Kerry and Joseph Lieberman “have provided Congress with an opportunity.” The Post calls their climate bill “imperfect,” but a good start “in the right direction” and urges legislators to seize this opportunity. Waiting to pass a climate bill will simply make global warming more difficult (and expensive) to address.

In America, climate change legislation took a backseat to health care reform and financial regulation. The Post says that Senators John Kerry and Joseph Lieberman “have provided Congress with an opportunity.” The Post calls their climate bill “imperfect,” but a good start “in the right direction” and urges legislators to seize this opportunity. Waiting to pass a climate bill will simply make global warming more difficult (and expensive) to address.

 

Forbes (May 17) Forbes (May 17)

2010/ 05/ 18 by jd in Global News

The sinking of South Korea’s Cheonan naval vessel killing 46 sailors was “the entirely predictable outcome of an abrupt shift in North-South relations.” Since election, South Korean President Lee has reversed agreements reached by his predecessor Roh Moo-hyun and North Korean leader Kim Jong II. A cycle of claims and counterclaims ensued, with each country blaming the other for violating its maritime zone. On November 10, Kim Jong-II visited a naval base and called for heroes “for do-or-die squads at sea.” The editorial suggests that “the only way to fix things is to try negotiating.” Threats and punishments are unlikely to work. North Korea will simply take bigger risks.

The sinking of South Korea’s Cheonan naval vessel killing 46 sailors was “the entirely predictable outcome of an abrupt shift in North-South relations.” Since election, South Korean President Lee has reversed agreements reached by his predecessor Roh Moo-hyun and North Korean leader Kim Jong II. A cycle of claims and counterclaims ensued, with each country blaming the other for violating its maritime zone. On November 10, Kim Jong-II visited a naval base and called for heroes “for do-or-die squads at sea.” The editorial suggests that “the only way to fix things is to try negotiating.” Threats and punishments are unlikely to work. North Korea will simply take bigger risks.

 

Financial Times (May 16)

2010/ 05/ 17 by jd in Global News

The euro has touched an 18-month low against the dollar. Mourning this weakness, some Europeans hope the euro rapidly regains strength. The Financial Times calls this thinking wrongheaded. “A weaker euro would now be a blessing for the eurozone.” By making the region’s exports cheaper, a weak euro actually boosts the eurozone’s competitiveness.

The euro has touched an 18-month low against the dollar. Mourning this weakness, some Europeans hope the euro rapidly regains strength. The Financial Times calls this thinking wrongheaded. “A weaker euro would now be a blessing for the eurozone.” By making the region’s exports cheaper, a weak euro actually boosts the eurozone’s competitiveness.

 

Wall Street Journal (May 14)

2010/ 05/ 14 by jd in Global News

The WSJ hopes Nationally Recognized Statistical Ratings Organizations (NRSROs) will be eliminated. NRSROs include organizations such as S&P, Moody’s and Fitch which “put triple-A seals of approval on dubious securities at the heart of the financial panic.” In a promising development, a Senate amendment, which would eliminate NRSROs from U.S. laws and regulations, passed by 61-38.

The WSJ hopes Nationally Recognized Statistical Ratings Organizations (NRSROs) will be eliminated. NRSROs include organizations such as S&P, Moody’s and Fitch which “put triple-A seals of approval on dubious securities at the heart of the financial panic.” In a promising development, a Senate amendment, which would eliminate NRSROs from U.S. laws and regulations, passed by 61-38.

 

The New York Times (May 12)

2010/ 05/ 13 by jd in Global News

“What could be worse than a 20-minute, 1,000-point drop in the stock market?” The newspaper answers “a 20-minute, 1,000-point drop that defies explanation.” Neither regulators nor stock exchange officials have been able to identify what caused the “Crash of 2:45.” The New York Times urges Congress to keep looking for answers and strengthen the regulatory framework in light of high-speed automated trading, which now accounts for the majority of trades.

“What could be worse than a 20-minute, 1,000-point drop in the stock market?” The newspaper answers “a 20-minute, 1,000-point drop that defies explanation.” Neither regulators nor stock exchange officials have been able to identify what caused the “Crash of 2:45.” The New York Times urges Congress to keep looking for answers and strengthen the regulatory framework in light of high-speed automated trading, which now accounts for the majority of trades.

 

The Times (May 10)

2010/ 05/ 10 by jd in Global News

Borrowing Nike’s slogan, The Times urges David Cameron and Nick Clegg to “just do it.” Creating a coalition government will bring risks, but these are far outweighed by the benefits. The two leaders “have a rare opportunity to reinvigorate their parties, to reset the terms of trade in British politics and to bring reformist zeal to the government of this country.”

Borrowing Nike’s slogan, The Times urges David Cameron and Nick Clegg to “just do it.” Creating a coalition government will bring risks, but these are far outweighed by the benefits. The two leaders “have a rare opportunity to reinvigorate their parties, to reset the terms of trade in British politics and to bring reformist zeal to the government of this country.”

 

Wall Street Journal (May 10)

2010/ 05/ 10 by jd in Global News

Both the U.S. and South Korea “responded prudently and calmly” in the wake of the March sinking of a South Korean ship, which killed 46 sailors. With the investigation uncovering evidence of North Korean wrongdoing, a firm response is in order. A military strike is too risky, but the two countries can hold more vigorous joint military exercises, delay transfer of an operational command from the U.S. to South Korea, and pull out of the Six Party Talks. In addition, Seoul should suspend all economic cooperation and the U.N. Security Council should pass a resolution condemning North Korea. “Now is the time to demonstrate the strength of joint resolve, not weakness.”

Both the U.S. and South Korea “responded prudently and calmly” in the wake of the March sinking of a South Korean ship, which killed 46 sailors. With the investigation uncovering evidence of North Korean wrongdoing, a firm response is in order. A military strike is too risky, but the two countries can hold more vigorous joint military exercises, delay transfer of an operational command from the U.S. to South Korea, and pull out of the Six Party Talks. In addition, Seoul should suspend all economic cooperation and the U.N. Security Council should pass a resolution condemning North Korea. “Now is the time to demonstrate the strength of joint resolve, not weakness.”

 

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