The Kensington Review

18 July 2008

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Latest Commentary: Volume VII, Number 86
Bush May Be Changing Stance on Iran -- Since its beginning, it has been the policy of the Bush administration to avoid talking to regimes it doesnít like, the Ostrich Doctrine as it were. As the president plays out his lame duckery, one can see indications that this foolish and inept approach to global affairs is giving way to something approximating common sense. In the case of relations with Iran, the White House appears to be willing to have direct diplomatic contact. That this can even resemble a great leap forward says much about the atrophying of American diplomacy under the Crawford Crew.

Argentine VP Shoots Down Farm Export Tax -- The Argentine government found itself in a very interesting position this week. The administration of Cristina Fernandez decreed in March a tax on farm exports, which the legislature has been debating after farmers protested so vehemently that the president couldnít rely on her powers of decree alone. The Senate in Buenos Aires discussed the proposal for 17 hours on Wednesday. In the end the government lost 37-36, and the deciding vote came from Vice President Julio Cobos, theoretically Ms. Fernandezís ally.

SEC Subpoenas Hedge Fundsí Records -- The Securities and Exchange Commission has subpoenaed records from 50 hedge funds in an investigation into stock price manipulation. This should put the fear of God into some of the money managers because of the number of funds involved. If the SEC uncovers evidence of shady trading in the stocks of Bear Stearns, Lehman Brothers, Fannie Mae and/or Freddy Mac, the next Congress will slap severe restraints on the hedge fund industry.

EU Royalty Plan May Save Aging British Rockers -- The European Union has recently announced plans to provide copyright protection to all recordings for 95 years. The EU member governments and the EU Parliament have yet to approved it, but such a plan would benefit a great many British rockers whose copyright lasts under British law for only 50 years. After that, the recordings are free to everyone as part of the public domain, which is a lousy retirement package.

© Copyright 2008 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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