Should the Government Compensate the Clients of TAT?

This, of course, is a political decision. There is no "right" thing to do. Even the IMF imperatives are not sacred. Sometimes, inflationary goals should be sacrifice to avoid the total collapse of the banking system and, with it, the economy as a whole.

Unfortunately, a lot of experience has been accumulated elsewhere in the world. No country was exempt, all suffered collapsing or near-collapsing banking systems. India had to nationalize the fourteen biggest banks - and, later on, tens of private, smaller ones - in 1969.

This was done to avert a major financial catastrophe. No one can enumerate all the banking crises in England. As late as 1991 it had a 10 billion USD collapse (the BCCI bank).

In 1973-4, during the "secondary banking crisis", the government had to launch operation "Lifeboat" to save 60 banks. They failed because the Bank of England deregulated the credit markets and freed it to competition.

As we review this scorched earth of ruined banks, six patterns emerge concerning the compensation offered by the state to the adversely affected clients.

The USA established a Federal Deposit Insurance Corporation (FDIC) as early as 1933.

Every depositor in every American bank is insured and the participation of the banks in the FDIC is obligatory. The FDIC covers deposits of up to 100,000 USD per person per bank.

The savings and loans associations (SLAs) were insured in a separate agency, the FSLIC.

When a wave of bankruptcies engulfed the SLAs in 1985-7, the FSLIC went bust and was unable to meet the demands of the panicky depositors.

The USA reorganized the whole system but it also decided to compensate the depositors and savers in the SLAs. To do that, it initially injected - using budget contingency funds - 10.8 billion USD. Then, a special agency was set up (the RTC). This agency established RefCorp, a corporation whose sole purpose was to issue bonds to the public and sell them in the various stock exchanges throughout the USA. The proceeds of the of the sale were used to beef up the failing SLAs and to make their balance sheets much healthier.

It is important to note that nothing explicit was promised to the depositors. The government made vague and late statements about its willingness to support the ailing institutions. This was enough to calm the panic and to re-establish trust between the depositors and the SLAs.

RefCorp bonds were not backed by a federal guarantee. Still, the fact that RefCorp was a federal entity, associated with the administration was enough to give it a federal credit rating.

People believed in the sincerity of the commitment of the government and in the long term repayment prospects of the bonds. They bought 300 billion worth and the money was immediately injected to heal the bankrupt institutions. Using long term debt - which was not even part of its obligations - the government was able to stabilize the financial system and to fully compensate depositors for their money.

A similar approach was adopted by Israel to cope with its 1983 banking crisis. The whole banking system collapsed as a result of a failure of a pyramid scheme involving the banks' shares. The government was faced with civil unrest and decided to compensate those who bought the shares in the stock exchange.

At first, the banks were nationalized and trading in their shares in the stock exchange was suspended to prevent panic selling. The government, having become the owner of the banks, declared a share buyback scheme. Owners of bank shares were permitted to sell them to the government in three specific dates over a period of 9 years (originally, the share buyback scheme was for a period of 6 years with two exit dates but it was prolonged). The price at which the government agreed to buy the shares back from the public was the price on the last day that the shares were traded prior to the collapse (5/10/83) and it was linked to the exchange rate of the Shekel-USD. The government used funds allocated within the national budget to buy the shares back. This means that it used taxpayers money to financially save a select group of shareholders. But there was no public outcry: so many people were involved in these pyramid schemes for so long that all the citizens stood to benefit from this generous handout. When the last shares were bought in 1992 the total damage became evident: no less than 6 billion USD (minus what the government could get when it were to sell the banks that it owned).

1994 was arguably the worst year for banks in South America since 1982. Banks collapsed all over that region.

It started with Venezuela in January 1994. One of the major banks there, Banco Latino, failed, dragging with it 7 others. The Government decided to fully compensate all the depositors and savers in these banks. It has created a special fund to which revenues from the sale of oil were transferred. Obviously, this money was taken away from the budget and was compensated for by extra taxation. The whole economy was horribly effected: inflation shot up uncontrollably, a credit crunch ensued and business bankruptcies proliferated. Venezuela entered one of the worst economic periods in its history with rampant unemployment and a virtual state of economic depression. It cost the country 12 billion USD to extract its banking system from the throes of imminent evaporation - an amount equal to 22% of its annual GDP.

And this was nothing compared to the Brazilian predicament. Brazil is divided to geographically huge states, each with its own development bank. These banks are really commercial banks. They have hundreds of branches spread across the states, they take deposits and make loans to business firms and to individuals. But their main debtors are the administrations of the states. When Banespa, the Sao Paolo state development bank collapsed, it was owed 19 billion USD by the state government, not to mention other bad loans. This bank had 1,500 branches and millions of depositors. It would have been political suicide to just let it die away. In December 1994, the Central Bank took over the day to day management of the bank and installed its own people in it. The bank was later completely nationalized. Moreover, the other state development banks began to wobble, together with a sizeable chunk of the private banking sector - 27 banks in total. This was really ominous and the government came up with a creative solution: instead of saving the banks - it saved the big clients of the banks. Sao Paolo received 66 billion USD in federal credits which assisted it in re-financing and in re-scheduling its debts, especially its debts towards Banespa. The bank was saved, the state was saved, the federal budget was 66 billions poorer - and this was only the beginning. In certain cases, the loan (asset) portfolios were so bad and unrecoverable that the government had to inject money to the bank itself - because there were no more clients to inject money to. Banco do Brazil received 7.8 billion USD on condition that it writes off loans from its books. Another 13.6 billion USD were given to private banks. The government also cajoled banks into merging or into finding foreign partners. The depositors were completely compensated but only a few of the 27 saved banks are of any interest to foreign investors. After all, a bank without assets is hardly a bank at all.

The most vicious of all banking affairs in this part of the world occurred in Paraguay a year later. The Treasure of the Central Bank, no less, was found using the Central Bank funds to run a lucrative money lending operation. He lent 3 million of the bank's funds before he was caught. Needless to sat that he pocketed the interest payments. In April 1995, the Governor of the Central Bank there decided that things were getting too hot for him and he fled the country altogether. The public was in panic. No one knew what happened to the reserves of the commercial banks which were deposited with the Central Banks. Banks with no reserves are very shaky and dangerous institutions. So, depositors and savers queued in front of the banks to draw their money. It was a matter of a very short time before the banks became insolvent and closed down their operations, albeit "temporarily". Four banks and 16 savings houses collapsed that year and four more banks - the next. The bank supervision discovered mountains and oceans of black money on which the banks paid high rates of interest. The legal "white" money - a much smaller amount altogether - bore a lower rate of interest.

The government adopted a politically brave decision: it would compensate only those depositors which deposited money on which they paid taxes ("legal money"). Even so, the damage was great (in Paraguayan terms): 450 million USD. Those depositors who received excess interest payments on their undeclared funds - lost both their funds and the interest accruing thereon. Moreover, the government forced the owners of the banks to increase the equity capital. The system was saved, though the basic malaise was not cured and the banking system is still obscure, secretive, nepotistic and highly dangerous.

A course very similar to that chosen by Macedonia was adopted by the government of Japan.

In 1990, the Tokyo Stock Exchange began its long 50% decline. People lost trillions of USD.

As a result, they had no money to continue to pay the outlandish prices which were demanded by sellers of real estate property. So, real estate prices went down by as much as 80% in the Tokyo area - and by a bit less elsewhere in Japan. Real estate property served as the main security on huge portfolios of loans which were provided by banks through Junsen, financing corporations set up especially to provide mortgage collateralised loans.

The logical - and inevitable - result was the collapse of seven important Junsen, followed by a chain reaction of banks ceasing to function.

The Japanese government set up a special agency, the HLAC, which "cleaned" the books of the banks by taking over the non-performing loans. This move was very similar to what the Macedonian government did with the Ägencija za Sanacija na Bankiti" - clean off the balance sheets of the banks, make them healthier and then supervise them heavily. No one knows how much the government of Japan has doled out to save the banks (actually, the depositors money). Rumours have it that about 1.8 billion were invested in the rescue operation of 1 junsen, the Nichiei Junsen.

Different countries bring different cultures and different solutions to the same problems.

Yet, there is one thing common to all: depositors are usually almost fully compensated using state money on and off budget. Some countries spread the payments over longer periods of time - other do not even dare raise the possibility and they take over the liabilities (and the assets) of the failing banking system. Some sell bonds to raise the money - other us taxpayers money. But they all succumb to the ultimate political imperative: survival.

About The Author

Sam Vaknin is the author of "Malignant Self Love - Narcissism Revisited" and "After the Rain - How the West Lost the East". He is a columnist in "Central Europe Review", United Press International (UPI) and and the editor of mental health and Central East Europe categories in The Open Directory, Suite101 and Until recently, he served as the Economic Advisor to the Government of Macedonia.

His web site:

In The News:

A citizens’ assembly could break the politicians’ Brexit deadlock  The GuardianOur politics and our parliament is in deadlock over Brexit. But if we choose to learn from other countries in how we resolve our differences, this could be a ...
Narendra Modi: Is hardline Hindu politics failing India's PM?  BBC NewsLast week's electoral losses in five states for India's ruling party has led to speculation that its agenda of promoting hardline Hindu politics has backfired.
Look back 2018: Year of transition for politics, policies  The Straits TimesThe leadership transition in the ruling People's Action Party was a major headliner in an eventful year for domestic politics. Here's a look at the issues that ...
Damon Albarn joins call for citizens' assembly to break Brexit deadlock  The GuardianIn a letter to the Guardian, prominent figures demand members of public be given chance to end stalemate.
Toxic Politics and Fading Stimulus: East European Risks in 2019  BloombergTraders in eastern Europe face a toxic landscape in 2019. In the twilight of the euro area's monetary-stimulus program, populism is spreading and growth is ...
On Politics: The Biggest Stories of the Week  The New York TimesIt's been a busy week in American politics. Here are some of the stories you might have missed.
Opinion | Loan waivers: the new currency of Indian politics  LivemintLoan waivers can, for a host of reasons, be part of a bouquet of solutions to farmers' crisis.
John Mearsheimer on International Relations, Great Power Politics, and the Age of Trump  The National Interest OnlineJohn J. Mearsheimer's The Great Delusion: Liberal Dreams and International Realities argues how the United States' pursuit of a “liberal hegemony” has been a ...
So that was another wasted year in Australian politics  The Sydney Morning HeraldFirst, the good news. An annus horribilis in Australian politics will soon be over. Revolutions, they say, devour their young. In our case, a political class ...
Should Labour be campaigning for a fresh vote on Brexit?  The GuardianThe party is split over how to respond to the growing calls for another referendum. A Momentum activist and a Labour MP present the arguments from each side.
In surprising move, SNL mostly avoids Trump (and politics in general) in year’s final episode  Washington PostFor the past few seasons, the show has almost relentlessly attacked the Trump administration. It took a break for a unifying holiday episode.
Saturday Night Live skit sends up Theresa May's Brexit woes  The Guardian'No one likes me,' says dancing PM in sketch featuring Matt Damon as David Cameron.
A gentleman of politics, John Smith 'loved serving' the public  TheSpec.comFormer alderman, MPP and Ontario cabinet minister John Smith had a chance to reflect on his overflowing life in a talk with his one-time council colleague Terry ...
9 of the most buzzy social media moments in politics of 2018  ABC NewsTwitter released analytical data this month, shedding light on the political figures and stories that lit up social media and drove pop culture in 2018.
People are Showing Gotra, Janeyu to Become Prominent in Politics: Yogi’s Latest Dig at Rahul  News18Speaking in Faizabad, Yogi Adityanath said people who had described themselves as 'accidentally Hindu' are now realising that they are Hindus “in the real ...
Has Mr Market risen above politics or is it still hoping for a vote for Modi?  Economic TimesThe stock market surprised everyone during the week gone by, as there was no panic selling after the Congress' win in major states, which proved that realities ...
The Politics of Memory in Barry Jenkins’s “If Beale Street Could Talk”  The New YorkerRichard Brody reviews Barry Jenkins's “If Beale Street Could Talk,” starring KiKi Layne and Stephan James and based upon the novel by James Baldwin.
Look ahead 2019: 3 things to watch out for in politics, policies  The Straits TimesLEADERSHIP IN VARIOUS POLITICAL PARTIES Although the next general election must be held by April 2021, there is talk that it could happen as early as ...
The next Koch doesn’t like politics  POLITICO.euChase Koch, son of Charles, has a different vision for the conservative juggernaut his family created.
What five states say about next five months of politics - Guess who's back  Economic TimesAfter a string of defeats, Congress is back in the reckoning. In the three BJP-ruled heartland states where it was a straight fight between the two parties, the ...
How would a second Brexit referendum work?  The GuardianMind-boggling complexities over timing, question(s) and how votes would be counted.
Talking Politics: Cohen Unhushed / Pelosi Levels Up  CBS San FranciscoPhil Matier, Melissa Caen and former S.F. mayor Willie Brown analyse two hot topics from another wild week in politics. (12-16-18) ...
'Will Slay With Sudarshan Chakra': Tej Pratap Warns Rivals as He Returns to Politics Amid Messy Divorce  News18I have returned to Bihar after receiving the blessings of Lord Krishna during my pilgrimage. The state will emerge as Kurukshetra in the Lok Sabha polls, Tej ...
Politics cloud felon voting rights restoration in Florida  ReutersTAMPA, Fla. (Reuters) - Elections officials across Florida say they expect former felons to flock to their offices to register to vote next month when a newly passed ...
The Politics of Petulance  NewsmaxThe Clintons warned us of the politics of personal destruction. The Opposition Media claims President Trump practices or legitimizes the politics of divisiveness.
209 female MPs by 209 female photographers – in pictures | Politics  The GuardianTo celebrate the 100th anniversary of the first election in which some women and all men could vote, 209 female photographers have taken portraits of the 209 ...
Politically Correct: Actors Who Fought Elections - No Politics, Please!  Economic TimesPolitics, through the ages, has shown to have its own charm. And thus, consequently, has managed to draw people from all walks of life - sports, cinema and ...
Politics this week  The EconomistThe hard Brexiteers in Britain's Conservative Party opposed to Theresa May's Brexit deal with the EU struggled to get enough support to depose her. The deal ...
Trick or real? CNRP split over Cambodia move to ease politics ban  Al Jazeera EnglishSelf-exiled cofounder calls government decision a political maneuver but others see it as sign of genuine improvement.
How to create a leaderless revolution and win lasting political change  The GuardianIn an age of insurgency, legitimacy is crucial to harnessing the energy of protest, says author Carne Ross.
The politics of a plot to kill Sri Lanka's president  ReutersA plot to kill the president, links to foreign intelligence, a rogue police officer and a missing sniper: the snippets of news emerging from Sri Lanka in recent weeks ...
As Va. GOP seeks new course, Corey Stewart says he’s finished with statewide politics  Washington PostNORFOLK — As Virginia Republicans met to figure out how to reverse a decade-long losing streak, their most recent standard-bearer and most polarizing figure, ...
Labor conference: Chris Bowen says Myefo shows Coalition has 'given up' on budget repair – live  The GuardianShadow treasurer says Andrew Broad's resignation doesn't help the Morrison government's 'chaos and dysfunction'. All the day's events, live.
What happened next? How Melania Trump’s jacket revealed her true politics to the world  The GuardianWhen the first lady arrived to meet children separated from their families with a coat emblazoned with the words 'I really don't care. Do U?' what was she trying to ...
Liberals must learn the politics of emotion to beat rightwing populists  The GuardianAttachment to place and identity can be part of a radical democratic project, says writer and broadcaster Paul Mason.
Political cheers and jeers for 2018  Toronto StarThe Star's Politics Page columnists have singled out politicians deserving of praise for their abilities to succeed in turbulent waters of 2018 and others who did ...
Why Trudeau is such a lightning rod in Alberta politics  CBC.caOK, let's just make it official and put Justin Trudeau's name on the ballot for Alberta's 2019 provincial election. I mean, Premier Rachel Notley and United ...
India welcomes political resolve in Sri Lanka  India TodayRanil Wickremesinghe was sworn in as Sri Lanka's new prime minister today.
Ahead of 2019, play The Poll board game of dirty Indian politics  QuartzThe Poll simulates India's national electoral process, warts and all.
Cindy McCain may hold key to who gets husband's Senate seat  CNNWashington (CNN) Here are the stories our panel of top political reporters are talking about in this week's "Inside Politics" forecast, where you get a glimpse of ...
After 45 years, farewell to the campaigns, the politicians, the ‘cue and the readers  The News & ObserverFor 45 years, N&O columnist Rob Christensen has covered politicians for The News & Observer. He has covered every governor since Terry Sanford and every ...
After the Assembly Polls, Will an Alternative Politics Gain Momentum?  The WireFor quite some time, there was a sense of fatalism and pessimism. BJP's loss may put an end to that.
George H.W. Bush's Life Has Plenty Of Lessons For Today's Politics  NPRThere are a lot of lessons Americans — and today's politicians — can take from the life of George H.W. Bush, the 41st president, who died Friday at 94.
Theresa May not expecting 'breakthrough' on Brexit deal at EU summit – as it happened  The GuardianPM won party backing in confidence vote but faces uphill battle to get her deal through Commons.
May survives confidence vote with a majority of 83 – as it happened  The GuardianPrime minister defeats leadership challenge after Conservative MPs vote to back her by 200 to 117.
Trudeau lashes out at Conservatives for whipping up fear over immigration  CBC.caWarning against the "dangers of populism," Prime Minister Justin Trudeau says using immigration as a wedge political issue puts Canada's future at risk.
Politics Isn’t Pretty. But Politicians Are.  The New York TimesAnd now for a shallow — but honest — take on the midterms.
Political tribalism in Trump’s America: what Andrew Sullivan gets wrong  Vox.comSullivan's essay on political tribalism shows he's blinded by his own.
Not just Ocasio-Cortez: the fixation on women politicians’ clothes  Vox.comEver since women started holding political office, Americans have been obsessed with their clothes. Here's why that's a problem.
Vote for the best Raw Moment in politics of 2018 | #RawPolitics  Euronews EnglishWhich Raw Moment in politics is your favourite? Vote for this year's best.
Fred Greenstein, 88, Dies; Political ‘Psychologist’ Assessed Presidents  The New York TimesFred Greenstein, a pre-eminent scholar of political psychology who devised a systematic approach to evaluating the leadership styles of American presidents ...
The 'Feel True' Politics of Demonetisation  Economic and Political WeeklyWill the obliteration of foul facts diminish the power of truth?
Tracy Watkins: After a huge year in politics, one politician stands out It's been a huge year in politics. But there is no argument about the politician of the year.
Trey Gowdy says he'll return to politics if Tim Scott runs for president  Charleston Post CourierSouth Carolina retiring congressman Trey Gowdy has insisted he's done with politics on every level, but he's willing to make an exception for best friend Sen.
Brexit: Challenge to May's leadership intensifies as senior Tory declares 'no confidence' - Politics Live as it happened  The GuardianRolling coverage of the day's politics, as Theresa May travels to The Hague, Berlin and Brussels to seek EU support for concessions on the Brexit deal.
Longtime politics writer says Trump is 'certainly the worst president' in his lifetime  CNNLongtime political journalist and columnist Al Hunt says Donald Trump is "certainly the worst president in my lifetime."
Brexit 'delusions' risk putting UK into crisis, warns Ivan Rogers  The GuardianFormer UK ambassador to the EU outlines his hopes for more honest leadership during a speech in Liverpool.
Your Politics: Brexit - what just happened?  RTE.ieThis week Aine Lawlor is joined from London by Political Correspondent Paul Cunningham who has been covering the dramatic events as the British Prime ...
Bay Area political events: Wildfires, Julian Assange  San Francisco ChronicleUpcoming political events in the Bay Area. SATURDAY Julian Assange: A panel discussion on the indictment of Wikileaks founder Julian Assange. Sponsored ...
Jeremy Corbyn slides in approval ratings in spite of Tory schisms  The GuardianOnly 25% of voters thinks Jeremy Corbyn is decisive, according to a survey, down from 31% in October. The Labour leader's fall to his lowest score at any point ...
The Brexit political declaration – rated  The GuardianAnalysis of the 26 pages May brought back. What's resolved and what's in the long grass?
The Guardian view on the Turner prize: art as politics  The GuardianThe judges of the Turner prize have issued a challenge by awarding it to Charlotte Prodger this week. The challenge is to pay attention, to stay alert, and most of ...
From Mueller to Kanye West, here's this year's White House Christmas poem  USA TODAYSince Bill Clinton was president, Greg Clugston's poems have detailed both the politics and headlines in the nation's capital.
A Fact-Checker’s Guide to Thanksgiving Politics  The New York TimesWith the holiday on the heels of the contentious midterm elections, it may be inevitable that your angry uncle or radical niece will turn talk to the campaigns, the ...
Far right breakthrough in Andalucía send shockwave through Spanish politics  The GuardianThe anti-immigration, anti-feminist Vox party has gained a foothold unseen since Franco's death. Voters reveal what drove them to extremes…
Brexiteers are the only honest people left in Tory politics isn't politics any more. This is wargaming. The only way to understand what happened in last night's confidence vote – and what is likely to follow from it – is ...
Huawei, Google and the tiring politics of tech  TechCrunchThe defining question of the 21st century is pretty simple: who owns what? Who owns the telecommunications infrastructure that powers our mobile devices?
MP causes uproar in parliament by grabbing mace in Brexit protest  The GuardianMonday's Commons debate on Theresa May's decision to call off her Brexit vote ended in high drama as a Labour MP seized the ceremonial mace in protest.
The Copa Libertadores debacle is a story of Argentinian politics  The GuardianThe decision to move the all-Argentinian South American football final to Spain after a violent incident is a sad commentary on the state of the country.
Britons must pay €7 to visit mainland Europe after Brexit  The GuardianThe European commission has confirmed that British citizens will have to pay to visit mainland Europe as soon as the EU's free movement laws no longer apply.
Brexit: what options are mooted to break the stalemate?  The GuardianAs Theresa May prepares to address parliament on Monday after Downing Street denied there were plans for a second referendum, here are some of the ...
Brexit deadlock ‘is blocking vital domestic policy reforms’  The GuardianCross-party MPs issue joint warning of need to act to prevent the issue 'sucking the life out of government'
These Americans Are Done With Politics  The New York TimesAs the country catches its breath after one of the most acrimonious midterm elections in years, it would be easy to conclude that all of America is hopelessly ...
Hungary complains Brexit will leave it outnumbered in EU  The GuardianForeign minister Péter Szijjártó says Britain brought 'common sense' to debate on migration.
His worst nightmare: Trump's life under a legal microscope  CNNWeeks of devastating legal revelations have left Donald Trump's political career clouded by criminality and his life, presidency and business empire under ...
All political parties should ensure passage of Women's Reservation Bill: Venkaiah Naidu  Economic TimesNEW DELHI: Vice President Venkaiah Naidu Sunday appealed to all political parties to arrive at a consensus and ensure the passage of Women's Reservation ...
Joe Hildebrand: Trump, Paris riots, Brexit, politics | The West is falling United Kingdom, a nation that once ruled over a quarter of the world's population in an empire so vast the sun never set upon it, is now so utterly impotent it ...
Norwegian politicians reject UK's Norway-plus Brexit plan  The GuardianSenior Norwegian politicians and business figures have rejected Norway-plus, the increasingly touted British cross-party plan for the UK to leave the EU but join ...
Age of Mediterranean rescue ship Aquarius comes to an end  PBS NewsHourDue to political pressure and harassment from European governments, Doctors Without Borders is ending operations of its last rescue ship, Aquarius, which has ...
Surging Greens shake up German coalition politics  BBC NewsThe Green vote swelled in Bavaria and Hesse - so could the party get into government in Berlin?
Fresh setback for Shiromani Akali Dal, expelled leaders form new political outfit  India TodayIn a major embarrassment to Shiromani Akali Dal (SAD) headed by Sukhbir Singh Badal, a group of expelled Akali leaders announced formation of a new ...
The Spectator's parliamentary awards confirm that UK politics is a joke  The GuardianHanding out prizes for cowardly cut-and-run resignations is no laughing matter, says the Guardian's former deputy political editor Anne Perkins.
N.Y. Democrats Vowed to Get Big Money Out of Politics. Will Big Money Interfere?  The New York TimesThe state's campaign finance laws are among the nation's weakest, and Democrats campaigned on a vow to strengthen them. But politics may intervene.
John McDonnell says Labour ‘not playing party politics’ on Brexit  Financial TimesJohn McDonnell has insisted that Labour is not “playing party politics” amid increasingly bitter rows in the Tory government over Brexit. The shadow chancellor ...
Climate Change Emerging From the Political Shadows  Wall Street JournalWhat's the sleeper issue of the new political cycle? Here's a good bet: It will be climate change. The signs are proliferating rapidly. Twin wildfires in California last ...
The Gods That Will Fail  The AtlanticIf voters are freighting politics with religious significance, we need to drain it of the expectation of transcendence.
'You'll never have that again': John Howard on longevity in politics  The Sydney Morning HeraldIn 1996, Australians were watching Blue Heelers and Friends on television. The Spice Girls and Savage Garden were big. Kieren Perkins and Susie O'Neill ...
Gambhir Dismisses Rumours of Joining Politics, Open to Coaching  News18Gautam Gambhir categorically rejected rumours on Sunday around him joining politics but the former India opener indicated he was open to coaching at the big ...
Best books of 2018: Politics  Financial TimesIdentity: Contemporary Identity Politics and the Struggle for Recognition, by Francis Fukuyama, Profile, RRP£16.99/Farrar, Straus & Giroux, RRP$26. One of the ...
This is U.S. politics. Are you triggered?  Washington PostIt's a moment when pundits say something just to goad the other side, not to actually persuade.
The Hardest Glass Ceiling in Politics  POLITICOThis was supposed to be the year of the woman. But dozens of female political operatives say they weren't invited to the party.
Alleged Russian agent Maria Butina pleads guilty to conspiring to influence US politics through the NRA  CNBCRussian citizen Maria Butina pleaded guilty in federal court Thursday to conspiring to influence U.S. politics through her connections to the National Rifle ...
All-party panel set out stances in Channel 4's Brexit debate - as it happened  The GuardianCaroline Lucas, James Cleverly, Barry Gardiner and Jacob Rees-Mogg to argue their case over what should happen.
Maimane takes aim at 'fake revolutionaries, dishonest politicians'  IOLSouth Africa's political landscape is full of fake revolutionaries who pretend to care about poverty and disempowerment, said DA leader Mmusi Maimane.
Brexit study finds significant decrease in diehard leave backers  The GuardianBritons are growing ever more pessimistic about the state of Brexit negotiations, with even diehard leavers angry with how the past year has gone for their cause, ...
Clash apparent in Tony Evers, Scott Walker transition adviser styles  Madison.comWisconsin business interests accustomed to backstage passes during eight years of Republican Gov. Scott Walker's administration may now be relegated to ...
Are Google and Facebook really suppressing conservative politics?  The GuardianAccusations of encoded anti-conservative prejudice are gaining traction, but experts say the claims are just a red herring.
Our end-of-year awards celebrate the worst in politics  The EconomistONE OF THE highlights of any political journalist's year is the Spectator dinner. Politicians and hacks drink fine champagne, eat good food and exchange juicy ...
France tells Donald Trump to stop interfering in its politics  Economic TimesThe French government on Sunday urged Donald Trump not to interfere in French politics after the US president posted tweets about the protests rocking the ...
Here's the political news you missed this holiday weekend  CNNWashington (CNN) For many Americans, the Thanksgiving holiday is a time to unplug from the news of the day and enjoy a home-cooked meal with family and ...

Wars, Oil and Trade Conflicts of the Human Race

Many in the World Media are quick to judge the... Read More

UK Elections on the Horizon

With elections on the horizon and Blair looking tired and... Read More

Alternative to Land Mines in Middle East

With the recent threats from Bin Laden and Al Queda... Read More

We Are Turning a Corner in Foreign Relations, Thanks GW Bush!

Kudos goes out to the George Walker Bush's Administration and... Read More

Fear, Controversy and Chaos in the Media

Most modern day media stories containing fear, controversy and chaos... Read More

Fight Terror, With Education

A War on Terrorism? Conventional war being brought on an... Read More

High Speed Trains and The Future of Transportation

Where are all the high-speed trains we were promised? Where... Read More

Media Advertising: New Alcohol Advertising Codes - 1 October 2005

Businesses advertising alcohol either in TV or non-broadcast format need... Read More


Each day the present geo-political reality confirms what The Tribulation... Read More

Socialist Public Schools In America

Many parents might think it a bit farfetched to compare... Read More

Mental Masturbation of FTC Franchise Rule Report

Please read through this quick thought and discussion as if... Read More

The Economic Giant-- A Closer Look at China


US Trade Deficit with Bordering Neighbors

The trade deficit with Canada is now 50 Billion per... Read More

The Hegemony - Church and State

THE ECCLESIASTICAL GRANT:There are good things done by the hegemony.... Read More

A Trade War is brewing; Are We Paying Attention

Incompetence is all too obvious at the trade shows of... Read More

National ESRI Policies

Many are very impressed with the NIMA (National Imagery and... Read More

Lawyers and Franchising

It is amazing how the Federal Trade Commission has destroyed... Read More

Federal Trade Commission Partnerships Questioned

In many reports we see that the Federal Trade Commission... Read More

Patriots and Parrots: Imprisoning Tongues in America

It can be dangerous to engage in free speech. This... Read More

California Mutual Assistance Program

In years past California Mutual Assistance Program and emergency response... Read More

Business: ?Where Is America Headed To??, New York Millionaire Wonders

Hello! Happy new year. May you live a long healthy... Read More

Bodyguard Training in Mexico; My Experiences While Providing BG Training in Mexico

Mexico the country of Salsa, Tortillas and Corruption; I first... Read More

Seven Things That Make Me Angry

I watch the TV news and I get angry. I... Read More

Positive People Power - Taking Control By Being Proactive NOT Reactive!


Israel Termed A ?Nuclear Power? By US Officials

In the last two weeks, two non-senior US officials indirectly... Read More