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Bold pledges from world leaders, but details missing

IHT - After a whirl of emergency meetings, government leaders on both sides of the Atlantic produced bold promises to rescue the global financial system, but were still racing to work out the details to calm battered stock markets before they opened on Monday morning.

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A Mandate for Spreading the Wealth

truthout.org - When President Franklin Roosevelt heard pleas for bold steps to counter extreme economic inequality, he replied: “Go out and make me do it.” Barack Obama won the presidency after clearly saying that he wants to spread the wealth. Let’s make him do it.

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Detroit tries to fool them again

Financial Times - Before the cash starts flowing to Detroit, here are three reasons this bail-out is a bad idea. First, it will reward failure. To read Mr Iacocca’s memoir is to realise that, while Detroit often pledges to change and periodically shows progress, one thing is unchanged in two decades. It is [...]

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Austria confronts a leader’s sexuality

IHT - There were rumors for years, but they were widely ignored in Austria, a conservative nation not much interested in prying into the private lives of its leaders. Now, grieving over the death of Jörg Haider, the charismatic far-right politician, the country has been forced to confront directly the question of his sexuality [...]

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