President George W. Bush is in New York Thursday, discussing financial markets and the world economy ahead of this weekend’s G20 summit on managing the global economic crisis. Bush also speaks at an interfaith debate at the United Nations and meets with Saudi King Abdullah.
Vice President Dick Cheney will host Vice President-elect Joe Biden and his wife at the Naval Observatory Thursday evening. They will have a private meeting and then tour the vice president’s official residence.
Biden famously called Cheney “the most dangerous vice president we’ve had probably in American history” during his debate with Republican rival Sarah Palin.
A Cheney spokeswoman said the vice president took the insults with a grain of salt, ABC’s “Good Morning America” reported.
“The vice president has been in politics for nearly 40 years. Campaign rhetoric is not new to him. He looks forward to having the Bidens visit the Naval Observatory and give them a tour of the residence,” she said.
Palin, seemingly press-shy during her run for the vice presidency, continued a spate of post-election interviews. She told CNN she wasn’t ruling out a run for the presidency in 2012.
“My life is in God’s hands. If he’s got doors open for me that I believe are in our state’s best interest, the nation’s best interests, i’m going to go through those doors,” she said.
Morning television shows focused on Treasury Secretary Henry Paulson’s change of direction for the government’s financial bailout plan.
Paulson announced Wednesday that he was abandoning his original plan to buy troubled mortgage assets from financial institutions. Instead, he will focus on flooding institutions with cash in order to ease consumer lending.
The mortgage crisis continues to hit homeowners, networks noted, citing a report out Thursday showing home foreclosures in October were up 25 percent over the previous year.
If you want a job in the administration of President-elect Barack Obama, you’d better be prepared to tell all, The New York Times reported.
The job application includes a seven-page questionnaire that may be the most intrusive ever, seeking personal and professional records, information about the candidates’ grown children and links to Facebook pages and blog posts.
Obama wants to know if any of his high level appointees own guns, have sent emails that might embarrass the president-elect or have paid traffic fines over $50.
Israeli Deputy Prime Minister Tzipi Livni told CBS’s “Early Show” she was confident Obama would maintain close ties with Israel. A day after Iran announced it had test-fired a new generation of missiles that could reach Israel, she noted that Obama had said “clearly that nobody can afford Iran with a nuclear weapon.”
Stock futures were down, pointing to a lower opening on Wall Street after Wednesday’s 400-point slide.
For more Reuters political news, click here.
Photo credit: Reuters/Larry Downing (Bush and Cheney at White House on Nov. 6)
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It is good to note that there is a shift on how the 700 Billion is going to be used to stimulate the US and world economy. As the root causes of the collapse were failed mortgages, these answers must be found there. Not only money are to be made available but the requirement of more responsible criteria for loans and mortgages must look into to ensure those who have the ability to pay must be helped to feed the consumers market.
The needed capital for viable projects have to be made available. Credits for reliable businesses have to be supported so that the employees are not thrown out of work giving rise to unemployment and the vicious circle of failed credit payment and mortgages.
It should be like “WAR time” where men and women have to be put back to work so they can earn a living. Instead of wasting more money into the War Department for Iraq and proxy War which cannot be won, the money can best be shifted to strengthen the US economy first before world recession leaves millions more to die of hunger.
A new chapter for a World Economic Order has to be discussed and implemented to stop a repeat of what has happened. Maybe there is a need for a world currency for world trade where every nation who wants to trade must meet certain minimal qualifications as used in the European currency, the EURO.
It is time for UN to look into these and for the World Bank to issue such currency.
- Posted by siburpati come from europe, and its a true statement when america gets a cold, europe gets the flu.all these socialist anti american, anti capitalist, low productive countries,with their six weeks holidays, double digit unemployment,and high taxes can pontificate to us when they have the luzury of living off our prosperity.but like opec who seem to have become invisible since the price of oil collapsed, they secretely hope that good old america will bounce back, which we will.and thankfully the dems inspite of all their bravado will do what they always do, nothing.the american engine is only ticking over but shortly it will firing on all cylinders.and the UN which has a resemblance to the school harry potter attended,will become even more irreverent.
- Posted by brian lee