Is China the New America?Source: foreignpolicy.com
In the Great Depression, as in the current economic crisis, the downturn was particularly severe because of a lack of leadership in the international order. The dominant financial power of the 19th century, Britain, was financially exhausted by the First World War.
Treasury says New York firm is a front for Iranian bankSource: McClatchy
WASHINGTON — In the latest and perhaps most unusual attempt by the Bush administration to choke off Iran's access to the global financial system, the Treasury Department on Wednesday designated a New York real-estate partnership as a front company for Bank Melli, one of Iran's …
World faces "total" financial meltdown: Bank of Spain chiefSource: Google
"Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world ..."
- Yeats
The global financial system is about to receive a shock. Every central bank is printing money like crazy providing bail out on top of bail out, the center cannot hold.
The Reckoning - Bush's Philosophy Stoked the Mortgage BonfireSource: The New York Times
The global financial system was teetering on the edge of collapse when President Bush and his economics team huddled in the Roosevelt Room of the White House for a briefing that, in the words of one participant, "scared the hell out of everybody."
Global Financial System - Europe's hollow four point proposalsSource: Times of India
Europe has put forward ... four principles. First, no financial institution or market segment should escape the jurisdiction of a proportionate and adequate regulation, or ... a monitoring system ... financial players such as credit rating agencies or leveraged funds ...
S.Korea seals $30 bln swap deal with Fed, markets surgeSource: Guardian Unlimited
By Seo Eun-kyung and Yoo Choonsik
SEOUL, Oct 30 (Reuters) - South Korea tied up a $30 billion currency swap deal with the U.S. Federal Reserve, sending its battered financial markets up sharply on Thursday on belief that the country's liquidity crisis may at last be easing.
India Signals Its PositionSource: financialexpress.com
India called on the world body to use its universality to coordinate an international response, which is crucial to overcoming the crisis.
Global Fears of a Recession GrowSource: The New York Times
When the White House brought out its $700 billion rescue plan two weeks ago, its sheer size was meant to soothe the global financial system, restoring trust and confidence. Three days after the plan was approved, it looks like a pebble tossed into a churning sea.
New Global Financial System - Kamal Nath Speaks Out Source: assamtribune.com
"The emerging new financial architecture is not confined to one country," Nath said at the summit hosted by the French business chamber MEDEF along with its Indian counterparts, FICCI and CII.

The Dollar-Oil Tango
From the Nixon Chop to the Bush Whack final months of Dubya's Presidency, the Bush Family has been in the Presidency for 12 years of the 37 years. And in positions of lesser power for the entire period. George Bush Sr.