The Kensington Review

13 December 2006

Latest Commentary: Volume V, Number 147
Congress Extends Current Spending, Halts Earmarks -- The 109th Congress adjourned early Saturday having passed only 2 of 11 spending bills needed to fund the government in fiscal 2007, which started October 1. This fiscal irresponsibility alone was sufficient cause to throw out the GOP. To give the 110th Congress some breathing room, lawmakers have extended current spending levels to February 15, 2007. However, the Democrats have said they’ll extend things to September 30 to avoid big fights. And earmarks are officially banned until lobbying changes are passed.

Kofi Annan Bids UN Adieu with Four Lessons -- The tenure of Kofi Annan as Secretary-General of the UN ends with a whimper rather than a bang. However, that is how diplomats function, and he is probably satisfied that things on his watch weren’t worse. After all, he was faced with a unilateralist American administration, the Darfur genocide (which is still going on), and the continuing realignment of power after the Cold War. In his farewell speech, he offered four lessons that bear reiteration.

NASDAQ Bids for London Stock Exchange, Again -- The NASDAQ has made a hostile bid for the London Stock Exchange worth £2.7 billion, or US$5.3 billion. The price per share is now £12.43. On March 30, 2006, NASDAQ withdrew a 950p per share offer. The cost to NASDAQ is now more than a quarter higher than if it had pursued the purchase back then. NASDAQ has borrowed $5.1 billion to fund the takeover, so perhaps this time, it’s serious.

SeaTac Airport Takes Down, Puts Up Christmas Trees -- This is the time of year when the more sensitive of North America’s millions of Christians announce that there is a war on Christmas. Whether it’s being wished “Happy Holidays” or having a nativity scene removed from city hall, these folks are convinced that they are being persecuted. The latest episode comes from Seattle-Tacoma International Airport, and it proves that the holiday spirit is sometimes more in keeping with April 1 than December 25.

© Copyright 2006 by The Kensington Review, Jeff Myhre, PhD, Editor. No part of this publication may be reproduced without written consent. Produced using Fedora Linux.

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