The Kensington Review

1 December 2004

Latest Commentary:

Bush Visits Canada to Mend Fences, Expectations Kept Low -- Appalling as it may seem, Mr. Bush’s trip to Canada this week is the first visit by an American president in ten years. He’s been to Britain, Mexico, Chile, Colombia, Indonesia and China, but Mr. Clinton’s trip in 1995 was the last time America’s biggest trading partner saw the top man from the States. Part of the reason was the general distaste that former Prime Minister Jean Chrétien has for the 43rd president and vice versa – the two go together like freedom fries and maple syrup. But with Mr. Martin as the new Canadian-in-Chief, there won’t be any change anytime soon, no matter how hard Washington and Ottawa try.

UN Secretary-General Annan Must Resign -- This journal firmly believes that politicians of whatever stripe and responsibility owe it to their constituents to resign gracefully when they have failed to discharge their duties. In earlier editions, the Kensington Review has said that numerous members of the American cabinet, the British Prime Minister, and the President of Venezuela should all hand in their papers. To this company one must now add the Secretary-General of the United Nations, Kofi Annan. He has become an obstacle to maintaining the institution’s credibility and value, and the last service he can perform for those who believe in the efficacy of international organizations is to depart.

Fidelity Asks SEC to Review Regulation NMS on “Trade Through” -- Economists in general and market theorists in particular have a habit of oversimplifying things. When it comes to determining what an investor’s interest is, they always default to “getting the best possible price.” As a result, regulators who rely on such theories often provide rules that, while logical and well-intentioned, cause more harm than good. One such is the “trade-through” rule that the SEC is proposing to broaden. Fidelity has asked it to reopen debate on the new plan, but investors would be better served by scrapping the rule altogether.

“Top of the Pops” Moves to BBC2 -- First, John Peel left for the big studio in the sky, and now, “Top of the Pops” has lost its spot on BBC 1 after 40 years. A revamped TOTP will show up on Sundays on BBC 2 according to the Beeb’s bosses. With viewership at 20% of what it was in the golden age of the 1970s, perhaps the show has simply outlived its usefulness. Who can really be bothered when music channels abound on TV and what’s in the charts isn’t really all that interesting?



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