We’re getting a lot of good feedback on our special report on cozy ties between Wall Street and the Fed. As one Wall Street economist put it: “I’ve never seen the ‘Fed Alumni Association’ used more extensively for back-channel communications with the Street than has been the case since June.”
Some assignments are tough in this business. Getting embedded in a U.S. tank in an Iraqi desert. Gulping tear gas during a riot. Spending hours at an APEC conference desperately seeking news in the snooze-fest.
We went behind the scenes of Dubai’s debt debacle last November and found a much more sober city-state starting to rebuild itself from the $59 billion hole that was dug by the whizz kids who had powered its transformation. Loans don’t come as easy — particularly the nod and the wink of association with the royal family isn’t cutting it like it used to.
Here in Europe, as spending cuts bite ever deeper, you might expect people to have taken to the streets in their thousands and be up in arms, in defence of the hard-won rights that this round of austerity is threatening. Some are, but not in anything like the numbers they have been in the past. With a Europe-wide day of action coming up on Sept 29 that may change…
The results of Venezuela’s parliamentary election are in and, as we said in last week’s special report, it’s not enough to win the popular vote. The opposition to President Hugo Chavez say they have won 52 percent of the vote, but that gives them only a third of the seats in parliament. Read our latest story here.