Bush held the summit but, Obama will cut the deals
source: http://www.truthout.org/111608B
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- wlwatkins
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**** For Mr. Bush, the upheaval delivered a final blow to an administration staggering under an unpopular war in Iraq and a weakening economy. With Mr. Obama watching from Chicago, Mr. Bush was not even the most sought-after American at the meeting. Instead, leaders from Mexico to Turkey lined up to meet two emissaries sent by Mr. Obama.
Washington - Facing the gravest global economic crisis in many decades, the leaders of 20 countries agreed Saturday to work more closely to reinvigorate their economies, but put off the thornier questions of how to overhaul regulation until next year, effectively giving a major assignment to the Obama administration.
In a five-page communiqué that mixed broad principles with specific steps to be tackled in the next three months, the Group of 20 pledged to bolster supervision of banks and credit-rating agencies, to scrutinize executive pay at firms, and to use fiscal and monetary policies to cushion the blow of a downturn that is hitting countries around the world.
But the statement also laid blame for the crisis at the doorstep of the United States, saying governments "in some advanced countries" had taken inadequate steps to prevent a buildup of risk.
The meeting laid out a roadmap for overhauling financial regulations that would postpone most of the difficult decisions until Mr. Obama is in office.
The leaders planned their next meeting for April 30, 101 days after President-elect Barack Obama takes office.
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SDLN
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"With Mr. Obama watching from Chicago, Mr. Bush was not even the most sought-after American at the meeting. Instead, leaders from Mexico to Turkey lined up to meet two emissaries sent by Mr. Obama."
That's about how things are going in the US as well. :)
- 3 years ago
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SDLN
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Katmai512
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The New World Order was just born from the G20 meeting. Although its mostly lip service, there's more behind the scenes than we'd ever know; and I'm sure
there's a lot of cards being traded right now.Since the start of the economic meltdown, the most logical solution is to create a world bank capable of saving big institutions from collapsing, and one that can dictate a lot of oversight. The way I see it, this downturn just might be an opportunistic banker's dream to roll out a universal currency under THEIR terms.
Only time will tell on this development though. They'll be meeting again next March so I guess we can only wait and see.
- 3 years ago
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Katmai512
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wlwatkins
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Truthout cont....
The Russian president, Dmitri A. Medvedev, also came with arguably reduced influence, partly for economic reasons: as the price of oil has plummeted, so has Russia's economy, its foreign exchange reserves and perhaps some of its political muscle.
None of this has stopped Mr. Medvedev from striking a combative tone toward the United States.
"They let this currency bubble grow in the interests of stimulating domestic growth," he declared in a recent speech. "They did not listen to the numerous warnings from their partners, including from us. As a result they have caused damage to themselves and to others."
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Ghee...and no one knew about the crisis possibly happening.....what did Bush gain from this enough to try to sink the entire world....a final step in his and his Father's attempt in "The New World Order"???? - 3 years ago
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wlwatkins
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wlwatkins
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Bush hopefully will not try to pull any more rabbits out of his hat.....
because Puff....and he will be gone! - 3 years ago
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wlwatkins
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