Archive of category "World"
World Shares climbed in Europe and Asia, led by banks, after the U.S. Congress adopted a landmark financial regulation package on Friday, removing uncertainty, and the G20 dropped a 2012 deadline for more stringent risk-provisioning rules. “We welcome the fact that the G20 has stepped away from imposing an arbitrary timeline for the implementation of new measures and has instead agreed to phase-in requirements agreements as and when national economic conditions allow,” the International Banking Federation said in a statement.
Politics Obama wants to slap a 0.15 percent tax on the liabilities of the biggest U.S. financial institutions to recoup the costs to taxpayers of the financial bailout. “We need to impose a fee on the banks that were the biggest beneficiaries of taxpayer assistance at the height of our financial crisis — so we can recover every dime of taxpayer money,” Obama said in his weekly radio and Internet address.
Politics The decision is fraught with risk for Obama, who faces the difficult choice of shaking up command of an unpopular and costly war just six months after ordering 30,000 more troops into the fight against the Taliban. McChrystal, the U.S. and NATO commander in Afghanistan and architect of Obama’s war strategy, was summoned back to Washington to explain his “enormous mistake” to the president, the White House said.
