U.S. has history of intervention

NEW YORK: If the U.S. government moves ahead with a plan to take ownership stakes in American banks, as seems likely, it would be an exceptional step - but not an unprecedented one.

BBC News Talking America - Road rage

AKRON, OH: Rows of shiny, all-American automobiles glimmered in the sun. I marvelled as their owners diligently polished all these lovingly-preserved Chevys, Fords and Plymouths.

They'd picked a glorious October morning for this classic car fair. But I couldn't help thinking there was something poignant about celebrating America's industrial past here, right in the heart of the rust belt.

All that money you've lost — where did it go?

NEW YORK - Trillions in stock market value — gone. Trillions in retirement savings — gone. A huge chunk of the money you paid for your house, the money you're saving for college, the money your boss needs to make payroll — gone, gone, gone.

Morgan Stanley hangs on Mitsubishi's $9bn pledge

The American bank Morgan Stanley faces a critical weekend as it awaits a crucial $9bn investment from Japan's Mitsubishi bank to fend off a crisis of confidence among investors which is threatening its survival.

Credit Default Swaps: The Next Crisis?

As Bear Stearns careened toward its eventual fire sale to JPMorgan Chase last weekend, the cost of protecting its debt, through an instrument called a credit default swap, began to rise rapidly as investors feared that Bear would not be good for the money it promised on its bonds. Not familiar with credit default swaps?

"we're not going to win this war."

Decisive military victory in Afghanistan is impossible and the Taliban may well be part of a long-term solution for the country, the senior British commander in Afghanistan was quoted as saying Sunday. The Sunday Times newspaper quoted Brig. Mark Carleton-Smith as saying that "we're not going to win this war."

The end of arrogance

While Americans are wrapped up in the banking crisis, the long-range, international effects of what is happening are being ignored here at home. Der Spiegel has an interesting commentary on what the crisis means to our position in the world that could entail the end of the American world as we all know it today.

Russia engages in 'gangland' diplomacy as it sends warship to the Caribbean

Are you scared yet?

Singapore's Former PM Lew Kuan Yew

I watched an interview by Fareed Zakaria with Lew Kuan Yew, the former PM of Singapore on CNN's GPS program at 1:00 PM today. I have to admit I was impressed with the man. Especially at the end when Zakaria asked him about what he attributed his longevity to. Some people just choose their parents wisely.

Shiver me timbers!

September 19th (every year)
is International Talk Like A Pirate Day

Bush says government role essential to ease crisis

"This is a pivotal moment for America's economy," Bush said. He said that a financial contagion that began with low-quality home mortgages had "spread throughout our financial system."

"This has led to an erosion of confidence that has frozen many financial transactions including loans to consumers and to businesses seeking to expand and create jobs," Bush said.

Pakistan orders troops to open fire if US raids

ISLAMABAD, Pakistan - Pakistan's military has ordered its forces to open fire if U.S. troops launch another air or ground raid across the Afghan border, an army spokesman said Tuesday.

The orders, which come in response to a highly unusual Sept. 3 ground attack by U.S. commandos, are certain to heighten tension between Washington and a key ally against terrorism.

World stock markets sink on Wall Street crisis

The declines came as Wall Street and the U.S. government took a series of steps aimed at bringing an end to the credit crisis that has roiled the global financial system for more than a year.

No victory in Iraq, says Petraeus

The outgoing commander of US troops in Iraq, Gen David Petraeus, has said that he will never declare victory there.

In a BBC interview, Gen Petraeus said that recent security gains were "not irreversible" and that the US still faced a "long struggle".

When asked if US troops could withdraw from Iraqi cities by the middle of next year, he said that would be "doable".

9/11 seven years later: U.S. 'safe,' South Asia in turmoil

ISLAMABAD, Pakistan — Seven years after 9/11, al Qaida and its allies are gaining ground across the region where the plot was hatched, staging their most lethal attacks yet against NATO forces and posing a growing threat to the U.S.-backed governments in Afghanistan and nuclear-armed Pakistan .

Alaska Native speaks out on Palin, Oil, and Alaska

My name is Evon Peter; I am a former Chief of the Neetsaii Gwich’in tribe from Arctic Village, Alaska and the current Executive Director of Native Movement. My organization provides culturally based leadership development through offices in Alaska and Arizona.

Sarah Palin Defends Experience, Takes Hard Line Approach on National Security

On the anniversary of the worst terrorist attack in U.S. history, Gov. Sarah Palin took a hard-line approach on national security and said that war with Russia may be necessary if Georgia were to join NATO and be invaded by Russia.

When asked whether the United States should be able to invade Pakistan in pursuit of terrorists along the Afghanistan border, Palin demured.

How dangerous is Al Qaida?

Der Spiegel has interviewed seven experts about the threat Al Qaida poses today. Here is a synoposis of each person's view.

1) Reuven Paz, Israel: Al Qaida is a worldwide model for both terrorism and insurgency.
2) Rohan Gunaratna, Singapore: Current American strategy is oriented toward lethal and kinetic force. It is not suitable to fight the jihadism.

Death of OPEC

Saudi Arabia walked out on OPEC yesterday. It said it would not honor the cartel's production cut. It was tired of rants from Hugo Chavez of Venezuela and the well-dressed oil minister from Iran. As the Saudis left the building the message was shockingly clear. According to The New York Times, “Saudi Arabia will meet the market’s demand,” a senior OPEC delegate said.

Former official: Bush OK'd US raids in Pakistan

WASHINGTON – President Bush secretly approved U.S. military raids inside Pakistan against alleged terrorist targets, according to a former intelligence official with recent access to the Bush administration's debate about how to fight al-Qaida and the Taliban inside the lawless tribal border area.

The official spoke on condition of anonymity to describe the classified order.

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