Is It Time to Bust the Trusts Again?
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Is It Time to Bust the Trusts Again?

Big name economists, including Alan Greenspan, are saying it's time to break up financial institutions that are "too big to fail." Is it too late even to regulate the banks and brokerages that caused the financial meltdown?  Does a new agency for consumer finance protection have a chance? Also, a UN-backed commission says that Afghan President Hamid Karzai failed to win re-election, and the Obama Administration finally agrees on a new policy toward Sudan and its humanitarian crisis.

Banner image: Justin Sullivan/Getty Images

Making News

UN-Backed Commission Says Karzai Failed to Win Re-election ()

A United Nations-backed commission says Afghanistan's President Hamid Karzai failed to win re-election, but Karzai himself is reportedly furious over the prospect of a run-off election. President Obama's Chief of Staff, Rahm Emanuel says a credible government is key to any increase in American troops. Matthew Green is Afghanistan and Pakistan correspondent for the Financial Times.

  • Matthew Green: Afghanistan and Pakistan Correspondent, Financial Times

Main Topic

Is It Time to Bust the Trusts Again? ()

In a major shift from his days as head of the Federal Reserve, even Alan Greenspan said last week that it's time to break up those banks and brokerages that are "too big to fail."  The financial giants are handing out billions in bonuses again, and they've spent $224 million lobbying against efforts to regulate excessive risk. But their critics insist they're the ones who brought the global financial system to the brink of collapse. Ninety-nine smaller banks have failed during this year alone. Citibank and Bank of America aren't doing so well. If the financial system isn't repaired, will it be taxpayer-bailout time all over again?


Reporter's Notebook

US to Pursue Greater Engagement with Sudan ()

After months of internal debate, the Obama Administration announced a policy for Sudan today, designed to promote peace between the north and south and to end the humanitarian crisis in Darfur that Colin Powell labeled "genocide." US special envoy for Sudan, General Scott Gration, had argued that sanctions against Sudan would be counterproductive, but humanitarian groups and prominent members of Congress disagreed. The new policy includes carrots as well as sticks. Jennifer Cooke is Director of the Africa Program at the Center for Strategic and International Studies.

  • Jennifer Cooke: Director of the Africa Program, Center for Strategic and International Studies

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