International- Iraq's Kurdish Leader snubs Rice
Summary: Kurdish regional President Massoud Barzani was scheduled to meet with Condoleeza Rice and other Iraqi officials in Baghdad, but he will not be making the trip out of protest against alleged American support of Turkish bombing and incursions against PKK rebels in Northern Iraq. On Dec. 16 as many as 50 Turkish warplanes bombed PKK positions, which was followed by a ground incursion of around 300 lightly armed Turkish soldiers into Northern Iraq. The troops have since withdrawn but Iraq has condemned the attacks and expressed outrage at US support for the attacks. The PKK is the Kurdistan's Workers Party it's goal is to create an independent Kurdish state. As many as 3,000 PKK guerrillas are believed to be in the mountains of Northern Iraq.
Opinion: There are growing signs of tension in Northern Iraq, a region which until lately had been held up as an example and success story. Stability was bringing foreign investment and making the Kurdish reason prosperous. However Turkey is taking the PKK seriously and has amassed 100,000 soldiers on the border. The ruling parties of semi-autonomous northern Iraq have shown no willingness to root out PKK fighters leaving the United States in between a rock and a hard place. We obviously need to keep Kurdish leaders happy as it is essential to Iraqi integrity and northern Iraq can not be allowed to turn into a war zone a fate which it has so far managed to escape. The US must also keep Turkey happy because it is a crucial ally in that region and is the main US supply line to Iraq. I believe the US must tread carefully and lightly or risk massive regional conflict.
Opinion: There are growing signs of tension in Northern Iraq, a region which until lately had been held up as an example and success story. Stability was bringing foreign investment and making the Kurdish reason prosperous. However Turkey is taking the PKK seriously and has amassed 100,000 soldiers on the border. The ruling parties of semi-autonomous northern Iraq have shown no willingness to root out PKK fighters leaving the United States in between a rock and a hard place. We obviously need to keep Kurdish leaders happy as it is essential to Iraqi integrity and northern Iraq can not be allowed to turn into a war zone a fate which it has so far managed to escape. The US must also keep Turkey happy because it is a crucial ally in that region and is the main US supply line to Iraq. I believe the US must tread carefully and lightly or risk massive regional conflict.
National: The House Approves $516 Billion budget
Summary: Democrats were forced to compromise by President Bush's threat of vetoing a budget that exceeded what he wanted to spend. The measure includes 11 appropriations bills into a 1,482 "omnibus" which funds every dep. except Defense. Democrats had sought to add 22 billion or 2.3% more than Bush wanted for domestic programs. In all the budget raised spending by 7% but kept non-security increases below 1%.
Opinion: Bush still manages to keep a semblance of control over congress with his veto threats and just enough Republican members staying loyal to his policies to make them feasible. Since taking both houses Democrats have been continuously frustrated in efforts to end the war in Iraq and implement other bills and measures by a stubborn Republican minority and a president who has been a lame duck since he was sworn in for his first term. Public opinion polls show disapproval for the President and Congress and the lack of teamwork between the two. It's fairly certain that not much will be gotten done this coming year and unless either side gains a large majority and the White House I do not think much will change.
Summary: Democrats were forced to compromise by President Bush's threat of vetoing a budget that exceeded what he wanted to spend. The measure includes 11 appropriations bills into a 1,482 "omnibus" which funds every dep. except Defense. Democrats had sought to add 22 billion or 2.3% more than Bush wanted for domestic programs. In all the budget raised spending by 7% but kept non-security increases below 1%.
Opinion: Bush still manages to keep a semblance of control over congress with his veto threats and just enough Republican members staying loyal to his policies to make them feasible. Since taking both houses Democrats have been continuously frustrated in efforts to end the war in Iraq and implement other bills and measures by a stubborn Republican minority and a president who has been a lame duck since he was sworn in for his first term. Public opinion polls show disapproval for the President and Congress and the lack of teamwork between the two. It's fairly certain that not much will be gotten done this coming year and unless either side gains a large majority and the White House I do not think much will change.
International- ECB lends $500 Billion to lower rates
Summary: The European Central Bank has allocated 348.7 euros to banks at a bellow market rate in a move aimed to cut cost of lending between retail and commercial banks. Currently as more banks are losing money they are more reluctant to loan money to other banks and companies. By injecting money central banks hope to ease fears of credit meltdown due to losses in the US mortgage industry. Analysts say that until Banks reveal the true extent of their losses central banks will not be able to much to ease the credit crunch.
Opinion: It is impossible to know the true extent of the damage that will be caused by the sub-prime loan crisis until all banks reveal the extents of their losses. But it is well known that many large banks have lost billions of dollars coupled with a slowing housing industry in the US has triggered fears of a global recession. Internationally many central banks have cooperated in a unprecedented move to inject money into their banking systems to ease fears but it is unclear whether this strategy will work in the long run. The world economy needs to be watched closely and more measures might be needed if a global recession is to be avoided.
Opinion: It is impossible to know the true extent of the damage that will be caused by the sub-prime loan crisis until all banks reveal the extents of their losses. But it is well known that many large banks have lost billions of dollars coupled with a slowing housing industry in the US has triggered fears of a global recession. Internationally many central banks have cooperated in a unprecedented move to inject money into their banking systems to ease fears but it is unclear whether this strategy will work in the long run. The world economy needs to be watched closely and more measures might be needed if a global recession is to be avoided.
National- Judge Orders Hearing on CIA Videos
Summary: A federal judge on Tuesday has ordered the Bush administration to defend it's decision to destroy videotapes of CIA interrogations of two al-Qaida suspects. U.S. District Judge Henry H. Kennedy rejected calls from the Justice Department to stay out of the matter and told lawyers to appear before him in court Friday at 11 a.m. In 2005 Kennedy ordered the administration to safeguard "all evidence and information regarding the torture, mistreatment, and abuse of detainees at the United States Naval Base at Guantanamo Bay." 5 months later the CIA destroyed interrogation videos, with the Justice Dep. arguing the videos were not covered because the prisoners were being held in secret overseas locations.
Opinion: It is part of the ongoing question of the treatment of detainees, interrogation techniques, and secret prisons. The administration has made it clear that it will not cooperate on the issue and the Justice Dep. has told Congress not to launch an inquiry saying it would be subject to political "pressure". This is just another example of the ludicrousness of the Bush administration, even Congressional Republicans are peeved at what is being perceived as another attempt by the White House to cover it's tail by using gov. agencies to block congressional oversight on the grounds that congress is playing politics.
Opinion: It is part of the ongoing question of the treatment of detainees, interrogation techniques, and secret prisons. The administration has made it clear that it will not cooperate on the issue and the Justice Dep. has told Congress not to launch an inquiry saying it would be subject to political "pressure". This is just another example of the ludicrousness of the Bush administration, even Congressional Republicans are peeved at what is being perceived as another attempt by the White House to cover it's tail by using gov. agencies to block congressional oversight on the grounds that congress is playing politics.
1 comment:
Very tough situation. When you free people they mights want to finally separate permanently.
Forced to compromise??? Are the Dems in charge of BOTH HOUSES??? Stand up for what you believe in.
The sub-prime lending scandal is another example of why capitalism must be regulated sometimes. Like Hobbes, people will take advantage of a good thing at the expense of others.
It wasn't the Bush administration who ordered the destruction. It was roague CIA agents. CIA agents can't take it upon themselves to destroy tapes, but we must realized that we have to be able to retrieve information to protect our interests.
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