FROM Krishna Guha
Obama's Plan for Creating Jobs The President is on his way to Europe to pick up his Nobel Peace Prize , but early today he met with leaders of both parties to talk about jobs. Afterward, he repeated the outline of a plan proposed yesterday in a speech in Washington.
Obama's Plan for Creating Jobs Today, before leaving for Europe to pick up his Nobel Prize, the President met with leaders of both parties to talk about jobs. During the meeting, he acknowledged the "less than full bi-partisan support for the Recovery Act and other steps that have broken the free-fall of our economy." Afterward, he repeated the outline of a plan proposed yesterday in a speech in Washington. Saying that the TARP bailout won't cost as much as predicted , the President wants part of the windfall to help create jobs. With the employment picture improving, what's the rush? Should the unexpected money all go to pay down the deficit?
China Authorizes 'Massive' Stimulus Package, AIG Gets Revised Bailout No country's being left out of the global financial crisis. Now China has announced an economic stimulus plan of its own. Krishna Guha is US economic editor for the Financial Times .
EU Leaders Push for Sweeping Overhaul of Global Financial System At Camp David this coming weekend, President Bush will meet with French President Nicolas Sarkozy, who has a mandate from the other leaders of the European Union: reconstruct the global financial system for the 21st century. Krishna Guha is chief US economic correspondent for the Financial Times .
Robert Zoellick Nominated to Head the World Bank President Bush today announced his choice to replace World Bank President Paul Wolfowitz. He tapped his former trade chief, Robert Zoellick . Wolfowitz steps down June 30 after a scandal involving a compensation package for his girlfriend, a controversy that has left the bank in turmoil. Krishna Guha of Financial Times has the latest.
World Bank Board Meets to Determine Wolfowitz's Future Paul Wolfowitz 's attorney has said that his client "will not resign under a cloud," but even President Bush sounds resigned to his departure. During today's joint news conference with Prime Minister Blair, Bush was asked about Wolfowitz's fate as president of the World Bank . Top White House officials have lobbied the bank's main shareholders in Britain, Germany, France, Italy, Canada and Japan, but only Japan has stood by Wolfowitz. Krishna Guha has been following the story for the Financial Times .
The Wolfowitz Showdown at the World Bank The World Bank is a multilateral institution intended to rid the world of poverty. Big European donors have a powerful voice but the United States picks the Bank's president. Now they're at loggerheads over Paul Wolfowitz , chosen two years ago by President Bush after helping to plan the Iraq War as top aide to Donald Rumsfeld. Controversial from the start--Wolfowitz's polices and management style have alienated both the Bank's staff and donor countries, his downfall may be caused by a personal issue. He's accused of damaging the Bank's effectiveness and his own anti-corruption crusade by arranging special treatment for his girlfriend, Shaha Riza. Will there be a showdown between President Bush and the leaders of Europe? What's at stake the international effort to end poverty? We talk about a crisis unprecedented for the 60-year old international institution.
Wolfowitz's Tenure at World Bank in Jeopardy Paul Wolfowitz , President of the World Bank , is in trouble for personally ordering a generous promotion for his girlfriend. Shaha Riza was at the World Bank when Wolfowitz took over. Yesterday, Wolfowitz apologized , explaining the “painful personal dilemma” as one that happened early in his tenure at the institution when he was “trying to navigate in uncharted waters.” Krishna Guha is reporting the story for the Financial Times .
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