The Kensington Review

24 September 2008


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Latest Commentary: Volume VII, Number 114
Bush Bids Farewell to UN -- For the eighth and final time, George W. Bush addressed the opening of the General Assembly of the United Nations yesterday. He’s never liked the UN. When he said “jump,” the UN didn’t ask “how high” but rather “why?” His rambling speech should probably have been phoned in for all the difference it made, and it would have spared Mr. Bush a trip to New York.

Brown Addresses Labour Party Conference -- This year, the Labour Party Conference is in Manchester, and it is there that Gordon Brown, probably for the last time, addressed the multitude as Prime Minister. His government has struggled in the last 15 months, and the party is declining terribly in the polls. If he’s still PM at this time next year, it will be a miracle. In his speech, though, he gave the listeners glimpses of what might have been.

Goldman, Morgan Become Bank Holding Companies -- The current financial crisis has effectively wiped out the main investment banks on Wall Street. Bear Stearns and Merrill Lynch are no longer independent. Lehman Brothers is broke. Over the week-end, Goldman Sachs and Morgan Stanley were rechristened as bank holding companies, meaning they can now accept deposits, have accepted greater regulation, and have brought an end to an era.

Music Companies’ slotMusic is Desperation in Action -- The music industry is in worse shape than Wall Street, and it doesn’t deserve bail out. It isn’t expecting one either. Instead, Vivendi SA's Universal Music Group, Sony BMG Music Entertainment, Warner Music Group Corp. and EMI Group PLC are backing a new format called “slotMusic.” They hope it will replace the CD because it can be used on almost any player system. It’s a nice try, but the smell of desperation is all too apparent.

© 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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