Global banking
The machinery of global economic governance barely exists, says Peter Mandelson. Mechanisms for cross-border cooperation in Europe exist but they are incomplete. Internationally, the problem is even more acute. Coordination mechanisms among central bankers and regulators exist, but they are weak. They are also skewed towards an economic order that is increasingly outdated. The large emerging economies - especially China - are growing sources of capital and economic demand. It is 64 years since the Bretton Woods conference put in place the basic machinery of modern global economic coordination. It is time for a Bretton Woods for this century. Peter Mandelson The Guardian
Full article: In defence of globalisation 
The machinery of global economic governance barely exists, says Peter Mandelson. Mechanisms for cross-border cooperation in Europe exist but they are incomplete. Internationally, the problem is even more acute. Coordination mechanisms among central bankers and regulators exist, but they are weak. They are also skewed towards an economic order that is increasingly outdated. The large emerging economies - especially China - are growing sources of capital and economic demand. It is 64 years since the Bretton Woods conference put in place the basic machinery of modern global economic coordination. It is time for a Bretton Woods for this century. Peter Mandelson The Guardian
Full article: In defence of globalisation
Fair cop?
As a true progressive within the police, Sir Ian belongs to a breed that is too rare, says a Guardian leader. As Boris Johnson and the home secretary pointed out yesterday, crime fell during the period of his office. The bungled response to Stockwell meant that before long Mr Blair might well soon have had to go. But how much better it would have been for him to depart on an issue of policing, rather than on issues of politics. There may be satisfaction in some conservative circles at seeing an unpopular liberal policeman bounced out of office by a Tory mayor. But by his actions Mr Johnson has set a disturbing precedent. Leader The Guardian
Full article: A very unBritish coup
Jacqui Smith angry after Tories oust Blair
Sir Ian Blair: no shame at the top
Sir Ian Blair should have gone sooner, says a Telegraph leader. His time in the post has been noteworthy for its egregious political correctness, a rapid rise in the stabbings of teenagers and, ironically given Sir Ian's "progressive" credentials, a row over alleged racial discrimination, resulting in the suspension of two senior Muslim officers. Morale has collapsed, senior officers are in despair and the force - or service, as it has been rebranded - has lost its way. It is extraordinary, given the long list of calamities over which Sir Ian has presided, that Jacqui Smith, the Home Secretary, should see fit to describe him in glowing terms rather than acknowledge the good judgment of London's mayor in trying to start afresh. Leader Daily Telegraph
Full article: Ian Blair's successor will have work cut out
Cool or maverick?
‘Cool’ and ‘maverick’: this election is unique in the extent to which each candidate has become associated with a single word, says Ben Macintyre. Even more extraordinary is the way these terms represent both the best and the worst in the two men who would be president. Both words are double-edged. As he responded to the failing American economy and the failed Wall Street bailout this week, Mr Obama was the epitome of cool: loose-limbed, joking and apparently unruffled. But he was also the less attractive side of cool, which verges on cold. McCain prides himself on marching to the beat of his own drum, but too much solo drumming can lead to deafness.
Ben Macintyre The Times
Full article: Two words that spell trouble for US voters
Alexander Cockburn: Palin could be new Reagan
Credit crud
Various myths are being touted by the drama queens and kings of our political and media establishments, says Gerard Baker. ‘Capitalism has failed and the US has embraced socialism’. No: The unpleasant truth is that financial excesses occur quite frequently in the capitalist system and always require modifications to it, not its abolition. ‘America's political leadership has collapsed.’ Well, could we have expected them to fall into line, without a struggle, with the plan the Bush Administration handed them? ‘Europe has shown how to deal with the crisis.’ Really? While the Federal Reserve has slashed interest rates, the ECB and the Bank of England continue to worry about inflation and refuse to cut interest rates. Gerard Baker The Times
Full article: That rubbish they talk about the credit crunch
Antonia Quirke channel-hops as the banks go down
Credit crunch bailouts are a threat to democracy
Two-faced Dave
Mr Cameron's main claim to our attention is that he is a new type of Tory: “I get the modern world,” he said. But if he gets the modern world, he doesn't seem to like it very much. Exams have been dumbed down; the Army doesn't have enough helicopters; people should jolly well get married and stay married; and it's impossible to have a business because regulation makes it illegal. Oh dear. This is the impromptu rant of the man in the Pringle jumper at the 19th hole. This wasn't the only speech Mr Cameron gave. There was another one, all about ending child poverty, loving the NHS, a clean environment, pulling up the roots of crime and opening up life chances. So who is David Cameron? Philip Collins The Times
Full article: Does David Cameron really think we're going to the dogs?
Why Cameron’s speech didn’t really matter
In Brief
Unfairly dismissed
Sir Ian deserves our thanks for the things a police chief should be judged on - reducing crime, putting police out into neighbourhoods, leading his force through the most serious terrorist threat London has ever faced, and good community relations. This real contribution to London dwarfs that of those on the right who have connived from day one to get rid of him.
Ken Livingstone The Guardian
Full article: A dangerous departure
Don't blame Bush
President Bush – and other Republicans – consistently tried to bring Freddie Mac and Fannie Mae under greater regulatory control, but were stopped by the Democrats. The very people the Democrats had intended to help will be the biggest victims: for many years to come banks will demand the most stringent terms for mortgages to the least well off. Dominic Lawson The Independent
Full article: Democrat fingerprints are all over the financial crisis
Housing bust
The property market went completely out of control on the way up, and is about to do the same on the way down. As it shatters on re-entry to economic reality, the debris will bury Labour's hopes for a fourth term. The house that Tony and Gordon built will be crushed by falling prices. Jeff Randall Daily Telegraph
Full article: The roof was bound to fall in on Labour's housing market
Cameron’s dream
I'm struggling, properly, to get a handle on how the Tory leader feels Britain should be, but his talk of caring, community spirit and loving thy neighbour (unless thy neighbour objects to thy wind turbine) makes me think of nothing so much as a jolly old-fashioned street party. Hugo Rifkind The Times
Full article: Now that was an explosive school outing
Get us cooking
The wartime Ministry of Food had only to inspire people who already knew how to cook to make the most of what was available. The job of a new Ministry of Food would be much harder. But it has got to be done, or we'll end up being the country with the best restaurants but fewest cooks, where some eat like kings, but the helpless rest die young, fat and unhappy. Paul Levy Daily Telegraph
Full article: It has never been more vital to know how to cook
Lovely Sam
While David Cameron kept away from the conference parties, Samantha Cameron looked remarkable every time we saw her, something Cherie never managed once in her time as chatelaine of Number 10. Andrew Pierce Daily Telegraph
Full article: The Tories are bubbling - and with no blue rinses in sight
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