FROM Brad Setser
What's Next for International Capitalism? President Obama and Britain's Prime Minister Brown today renewed “ the special relationship .” But will they get the cooperation they want from the rest of the world? We get a preview of the G-20 summit and the likelihood of resolving the global financial crisis.
What's Next for International Capitalism? Barack Obama met Queen Elizabeth today, as protests turned violent on the streets of London. The leaders of 20 countries are preparing to meet on the global financial meltdown, and the eyes of the world are on the new President of the United States. Obama and Britain's Prime Minister Gordon Brown are calling for unified action , but France and Germany, Eastern Europe and the nations of Asia all have their own ideas. Can they agree on the need for economic stimulus, increased regulation or more money for the International Monetary Fund ? Can Obama lead the way out of a crisis that started here and infected the rest of the world?
The Global Consequences of America's Financial Crisis The Wall Street rescue failed in the House. Now the Senate will take up a similar bill tonight, with support from John McCain , Barack Obama and Joe Biden . Some advocates are saying the pros and cons of specific provisions are not what matters. The real issue is restoration of confidence in the financial system. Meantime, banks are in trouble in Britain, France, Belgium, the Netherlands—Ireland and Iceland, and leaders are saying the US has a special responsibility to act and act now. Would foreign banks get part of the bailout money? What about countries which buy American debt, including Russia and China? Is America's financial leadership what's really at stake?
Trump's Russia ties intensify with Comey firing Acting FBI Director Andrew McCabe contradicted the Trump White House today, insisting the Bureau had not lost faith in former Director James Comey. He promised to notify the committee of any interference into investigation of the Trump campaign's contacts with Vladimir Putin's Russia. What do we know about those contacts… and how they relate to Trump's business interests and those of his family?
Trump, the GOP and the rule of law Conservatives — and some Republicans — are criticizing the President for "the mess he made" in firing FBI Director James Comey. We hear about a potential successor, the possibility of "obstruction of justice" and the constitutional separation of powers.