The Great Debate UK

from The Great Debate:

Play by the rules, close failing banks

James Saft Great Debate -- James Saft is a Reuters columnist. The opinions expressed are his own --

Why not just play by the existing rules and rescue the economy, rather than the banks and their foolish shareholders and counterparties?

The choice for the Obama administration comes down to this: pay a subsidy to weak banks and reward failure and self-dealing or shut them down and start over again.

Because it doesn't want to run the banks, and who can blame it, my bet is that the U.S. government will go the subsidy route, but it would be wrong.

A better idea is nationalization of the banks that can't function combined with fresh capital for lending, perhaps in new institutions or newly managed ones built from the wreckage of the failed.
As Nobel prize winning economist Joseph Stiglitz points out, the United States has an existing process to deal with failed banks.

from For the Record:

After the warm glow, telling the cold, hard truths

dean-150Dean Wright is Global Editor, Ethics, Innovation and News Standards. Any opinions are his own.

The president was inaugurated in front of adoring crowds and positive reviews in the media. As the unpopular incumbent sat on the platform with him, the new Democratic chief executive took office as the nation faced a crippling economic crisis. The incoming president was a charismatic figure who had run a brilliant campaign and had handled the press with aplomb. The media were ready to give him a break.

from The Great Debate:

Obama and the Afghan narco-state

Bernd Debusmann - Great Debate-- Bernd Debusmann is a Reuters columnist. The opinions expressed are his own. --

To understand why the war in Afghanistan, now in its eighth year, is not going well for the United States and its NATO allies, take a look at two statistics.

from The Great Debate:

First 100 Days: Obama and trade

Sean West-- Sean West is a Comparative Analytics analyst at the political risk consulting firm Eurasia Group. The views expressed are his own. --

Fear that President Barack Obama will backslide on America’s free trade commitments is misplaced—in fact, he may eventually expand America’s commitment to liberalization. His pledge to revisit the North American Free Trade Agreement (NAFTA) amidst an economic slump was one of his most widely discussed policy positions of the campaign season.

from The Great Debate:

First 100 Days: Fix the banks

morici-- Peter Morici is a professor at the University of Maryland School of Business and former Chief Economist at the U.S. International Trade Commission. The views expressed are his own. --

For every new president, campaign promises and inaugural idealism must give way to the hard choices that measure the mettle of their leadership.

from The Great Debate:

First 100 Days: Obama’s first climate change target

Mary D. Nichols-- Mary D. Nichols is Chairman of the California Air Resources Board, the lead agency for implementing California’s landmark climate change law, the Global Warming Solutions Act of 2006. The views expressed are her own. --

After eight years of inaction on climate change by the federal government, we can now look forward to the Obama administration tackling global warming head on. With not a minute to lose, Lisa Jackson, the soon-to-be new head of the EPA, should move quickly to capitalize on the momentum of states that have so far been the leaders in fighting global warming. There is no better place to start than by establishing a national greenhouse gas emission standard for automobiles based on California’s landmark clean car law.

from The Great Debate:

First 100 Days: Obama, Iran and Richard Nixon

Bernd Debusmann - Great Debate- Bernd Debusmann is a Reuters columnist. The opinions expressed are his own -

Here is a piece of advice for Barack Obama for dealing with Iran, one of the countries that will loom large in his presidency. Forget the way five of your predecessors dealt with the place. Take your cue from Richard Nixon and his 1972 breakthrough with China.

Just as Nixon and his secretary of state, Henry Kissinger, realized that a quarter of a century of isolating and weakening China had not served America's interests, so Obama should acknowledge that 30 years of U.S. policy since the 1979 Iranian revolution has failed and that what is needed is a grand bargain, a shift as fundamental as the one Nixon achieved with China.

from The Great Debate:

Scoop! U.S. offers to cooperate with world

Paul Taylor Great Debate-- Paul Taylor is a Reuters columnist. The opinions expressed are his own --

An American president vowing to cooperate with the rest of the world would barely be news if it did not follow eight years' of George W. Bush's tenure in the White House.

Barack Obama's inauguration address was thin on foreign policy specifics, but his pledge to work with allies and adversaries on global problems from nuclear weapons to climate change was a message many have waited impatiently to hear.

from The Great Debate:

Obama: plus ça change?

Robin Shepherd is a senior research fellow at Chatham House in London. The opinions expressed are his own.

robinshepherd-cropped1Which part of the word “change” did Barack Obama not understand? A year from now it is a question that many outside America will be asking about his foreign policy.

from The Great Debate:

First 100 Days: Prioritize and take a hands-on approach

ram-charan-photo-- Ram Charan is the author several book, including "Leadership in the Era of Economic Uncertainty: The New Rules for Getting the Right Things Done in Difficult Times." A noted expert on business strategy, Charan has coached CEOs and helped companies like GE, Bank of America, Verizon, KLM, and Thomson shape and implement their strategic direction. The opinions expressed are his own. --

The first 100 days demand that President Barack Obama sort out his priorities and choose the ones that will help solve many others. With many constituencies and direct reports clamoring for his time and attention, he cannot attend to them all.  He has to decide which of the many complex and urgent issues that have accumulated must be resolved first.

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