Text size [+][-] Monday January 5 2009GLOBAL EDITION
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The alleged mother of all Ponzi schemes happened under the dilapidated US regulator’s nose. Its mishandling of the case, excoriated today in Congressional hearings, is the ultimate morale-buster. To rebuild the SEC will require political backing and more industry expertise.
Devoting 40% of his stimulus package to tax cuts is smart, bipartisan and should reduce the plan’s unproductive public spending element. With money supply zooming, it may result in a short-term economic boost. But the inflation and deficit hangover may be nasty nonetheless.
Mumbai's Taj hotel may have reopened after November's terror attacks, but tension in the subcontinent remains dangerously high. India blames Pakistani militants for the atrocity. Leaders of both nations say they don’t want a war. In different ways, neither can afford one.
Third-generation mobile ticks many Chinese government boxes: it will create jobs, boost spending and advance China's technical standing. With 600m users and $40bn of investment at stake, foreign firms want in - but the state may have other ideas.
Meltdown avoidance plan
Punchy, incisive comment
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Even when you don't agree, it still makes you think. Charles Sherwood, partner and member of the board, Permira
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