Reuters blog archive
from Photographers' Blog:
Bangui, Central African Republic
By Siegfried Modola
Decades of poor governance in Central African Republic followed by over a year of sectarian conﬂict and chronic insecurity has crippled even the most basic government services in the country.
A new interim government is faced with the mammoth task of resuscitating the nation's infrastructure while attempting to bring peace and stability, paving the way for presidential elections next year.
As the divide between Christians and Muslims in CAR grows ever deeper – with the U.N.’s head human rights ofﬁcial saying that atrocities are being committed with impunity – it is clear that the transitional government together with the African Union and French peacekeepers are struggling to enforce the rule of law.
Brutal acts of violence are committed nearly every day in the streets of Bangui and in other parts of the country. Most of them are left unpunished; there simply isn’t any government manpower to bring those who carry out such crimes to justice.
I dialed into a press conference today held by U.S. Congressman Brad Miller, a Democrat from North Carolina. He wanted to share his views on the suits filed by the Federal Housing Financing Agency (FHFA) against 17 banks over recovery on fraudulently misrepresented subprime mortgages. FHFA is seeking to cover losses on approximately $200 billion of mortgages purchased by Fannie and Freddie prior to their takeover by the government in the summer of 2008. Taxpayers have already covered $140 billion of FHFA losses from these bad mortgages and the amount is expected to go much higher.
The topic is pretty far afield from my regular Muniland content but I had met Congressman Miller several times on Capitol Hill when I lead Riski, the open source financial reform project, and I'd always been very impressed with his forward-looking efforts on the housing crisis. Once you are around Congress for a while it's easy to see what special interests various members of Congress are promoting. Congressman Miller seemed genuinely independent and interested in America as a well-governed and fair nation. Sad to say these are not common traits on the Hill.