The Great Debate UK

from The Great Debate:

Obama, Moses and exaggerated expectations

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

President Barack Obama is close to the half-way mark of his presidential mandate, a good time for a brief look at health care, unemployment, war, the level of the oceans, the health of the planet, and America's image. They all featured in a 2008 Obama speech whose rhetoric soared to stratospheric heights.

"If...we are willing to work for it, and fight for it, and believe in it, then I'm absolutely certain that generations from now, we will be able to look back and tell our children that this was the moment when we began to provide care for the sick and good jobs for the jobless; this was the moment when the rise of the oceans began to slow and our planet began to heal; this was the moment when we ended a war and secured our nation and restored our image as the last best hope on earth."

The date was June 3, 2008. Obama had just won the Democratic Party's nomination as presidential candidate. He was also winning the adulation of the majority of the American people, who shrugged off mockery from curmudgeonly Republicans who pointed out that the last historical figure to affect ocean levels was Moses and he had divine help when he parted the Red Sea.

Obama took to the campaign trail again this month to help Democratic candidates for the mid-term elections on November 2 and he would need divine intervention to prevent his party from losing control of the House and possibly the Senate.

from Afghan Journal:

How many al Qaeda can you live with ?

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(A box of  'Super Osama bin Laden" candles bought at a bazaar in Kandahar)

(A box of 'Super Osama bin Laden" candles bought at a bazaar in Kandahar)

A furious debate has raged for several months now whether it makes sense for the United States to throw tens of thousands of  soldiers at a handful of al Qaeda that remain in the Afghanistan-Pakistan theatre, nine years after launching the global war on terrorism.

CIA director Leon Panetta  told ABC News in June thatal-Qaeda’s presencein Afghanistan was now “relatively small … I think at most, we’re looking at maybe 50 to 100.” And in nextdoor Pakistan, arguably the more  dangerous long-term threat, there were about 300  al Qaeda leaders and fighters, officials separately estimated.

from The Great Debate:

The U.S. war in Iraq is over. Who won?

The end of America's combat mission, after seven and a half costly years, has raised questions that will provide fodder for argument for a long time to come: Was it worth it? And who, if anyone, won?

It's too early to answer the first question, according to U.S. Secretary of Defense Robert Gates, a man of sober judgment. "It really requires a historian's perspective in terms of what happens here in the long run ... How it all weighs in the balance over time remains to be seen."

from The Great Debate:

U.S. aid, Israel and wishful thinking

In June 1980, when an American president, Jimmy Carter, objected to Jewish settlements in Israeli-occupied territories, the Israeli government responded by announcing plans for new settlements. At the time, settlers numbered fewer than 50,000.

In 2010, another American president, Barack Obama, is calling for an end to settlements he considers obstacles to peace between Israel and the Palestinians. Israeli authorities responded by announcing new ones, illegal under international law. Settlers now number close to half a million.

from The Great Debate:

Islam, terror and political correctness

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

The Islamic terrorists of the Bush era are gone. They have been replaced by violent extremists in a purge of the American government's political lexicon. Smart move in the propaganda war between al Qaeda and the West? Or evidence of political correctness taken to extremes?

from Tales from the Trail:

If healthcare wasn’t enough, Obama just picked another fight

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One thing is clear. President Barack Obama is not afraid of a fight.

He battled all last year with Republicans and some of his own Democrats trying to get healthcare reform through the political headwinds. OBAMA/

Now he's going to take on Republicans with trying to repeal the "Don't Ask, Don't Tell" policy on gays serving in the military.

from The Great Debate:

Lowering risks from large, complex financial institutions

-- Robert R. Bench, a former deputy Comptroller of the Currency, is a senior fellow at the Boston University School of Law Morin Center for Banking and Financial Law. The views expressed are his own. --

Financial institutions inherently are fragile.

As intermediaries, they are exposed to both exogenous and endogenous threats. The 2007-2008 financial crisis was caused by endogenous forces.  Simply, financial institutions were poorly governed, taking-on extreme liabilities and gambling them into high risk activities.  The meltdown of the financial system fed contractionary forces into the real economy, causing our "great recession," creating negative exogenous loops back into financial institutions.

The 2010 general election and new media

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parliamentMatthew McGregor is the Director Blue State Digital’s London office. The opinions expressed are his own.

The 2010 general election will be the first closely British election in which the internet will be an important factor. The last truly close election in 1992 was fought in a way unrecognisable to campaigners today. In 1997, most of us had yet to use email. In 2005, YouTube was barely three months into its existence.

from The Great Debate:

America, terrorists and Nelson Mandela

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

Woe betide the organization or individual who lands on America's terrorist list. The consequences are dire and it's easier to get on the list than off it even if you turn to peaceful politics. Just ask Nelson Mandela.

One of the great statesmen of our time, Mandela stayed on the American terrorist blacklist for 15 years after winning the Nobel Prize prior to becoming South Africa's first post-Apartheid president. He was removed from the list after then president George W. Bush signed into law a bill that took the label "terrorist" off members of the African National Congress (ANC), the group that used sabotage, bombings and armed attacks against the white minority regime.

from Breakingviews:

Europe’s banks will suffer less from U.S. tax

-- Margaret Doyle and George Hay are Reuters Breakingview columnists. The opinions expressed are their own. --

European banks should suffer less than their American counterparts from the Obama administration’s proposed bank tax. The president’s proposed levy on banks’ wholesale funding requirements will hit all banks with a big presence on Wall Street. But assuming that U.S. banks will be taxed on their worldwide operations, the levy will hurt them more. This could be a major bonus for European investment banks -- as long as their own governments don’t follow suit.

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