The Kensington Review

9 March 2007

Latest Commentary: Volume VI, Number 30
Cheney Needs to Serve out His Term -- The former chief of staff of America’s vice president is now a convicted felon. I. Lewis “Scooter” Libby faces a couple decades in the slammer and a million bucks in fines, but the sense among those Americans paying attention is that he is the fall guy for Vice President Cheney. Hopeful speculation in Washington suggests the Veep is going to resign soon for “health” reasons. Oddly, for the good of the Republican Party and of the nation, Dick Cheney needs to remain in office until January 2009 when his term expires.

British MPs Vote for All-Elected House of Lords -- Tony Blair’s New Labour government has altered the British constitution more than any other since the Reform Bill of 1832 and wants to do more. It has devolved power in Scotland and Wales, and it tried to create regional government in England. It tried, and failed, to replace the Law Lords with a Supreme Court. It has removed most of the hereditary peers from the House of Lords. Yet there has been no consensus about its composition for 96 years. That changed this week when the House of Commons voted for a 100% elected House of Lords.

New European Hedge Funds Set $37.7 Billion Record -- In 2006, European fund managers launched 423 new hedge funds, 250 of which were created in the second half. Altogether, they had $37.7 billion under management on the day they started to trade. This in itself is a significant result, suggesting that people aren't too worried about putting their money to work. At the same time, an analysis of the types of hedge funds established provide insight into what managers and their clients expect in the year ahead.

US Mint Error Keeps “In God We Trust” off Dollar Coin -- In recent years, the US Mint has done a pretty good job at giving beginning numismatists something to collect. The quarter program is perhaps the most successful, replacing the customary eagle on the reverse with a design from each state (meaning there will be 50 new quarters to snatch up at the end of it). The most recent move was to create a dollar coin that Americans would actually use. The Mint has put the first president on a gold-ish colored coin. However, an error omitted the writing on the edge, making it an instant collectors item. Some error.

© Copyright 2007 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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