Is Capitalism in for a Change at Home and Abroad?
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The leaders of Europe have persuaded President Bush to review the rules of international capitalism. Does that mean global regulation of the global economy? Does the US still have the authority to preserve its models of free markets, free enterprise and free trade? Also, early voting starts in the key battleground state of Florida, and the Tampa Bay Rays keep faith against the Boston Red Sox. We preview the World Series.
Banner image: President George Bush and French President Nicolas Sarkozy (R) listen as Jose Manuel Barroso, President of the European Commission addresses the media at Camp David to discuss the need for a coordinated global response to the economic crisis. White House photo: Chris Greenberg
Early Voting Starts in Key Battleground State of Florida ()
The latest poll by ABC News and the Washington Post says John McCain's focus on 60's radical William Ayers is not working. Sixty percent say it's not a legitimate issue. It was one of the problems cited yesterday by Collin Powell when he endorsed Barack Obama. Chris Cillizza writes The Fix, a blog on the Washington's website.
Europe Pushes to Rework the Global Financial System ()
In this weekend's meeting with the Presidents of France and the European Commission, President Bush agreed to a series of summit meetings that could change the way capitalism is practiced internationally. The countries of Europe are pushing hard for more regulation of the global economy. Heads of state will begin meeting right after the US election. The goal is curbing the reckless excesses that led to the current crisis, which could mean restraints on tax havens, hedge funds and executive compensation. The Bush White House and American business interests are warning against over-reaction, asserting that risk-taking is the keystone to prosperity. Do the Europeans want an international super-regulator? Since the crisis began here, will the US have to make some concessions? What's at stake for individual Americans and the credit-card economy?
- Markus Brunnermeier: Professor of Economics, Princeton University
- Tom Donlan: Editorial Page Editor, Barron's National Business and Financial Weekly, @barronsonline
- Kevin Phillips: former political strategist, Republican Party
- Tamara Draut: Director of the Economic Opportunity Program, Demos
Tampa Bay Rays Beat Defending Champion Red Sox ()
The Boston Red Sox have come back from the almost-dead to win American League pennants and go on to World Championships, but not this year. While they did not go quietly, the Tampa Bay Rays refused to fade, and they'll play the National League's Philadelphia Phillies. Bob Ryan is a sports columnist for the Boston Globe.
- Bob Ryan: Sports Columnist, Boston Globe
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