Thursday, April 2, 2009

McClatchy reporter Steven Thomma credits Obama with personally saving the G20 summit

I can't believe Steven Thomma isn't embarrassed by attaching his name to this.

The G-20 economic summit reached a final agreement to restore the world’s economy Thursday only after President Barack Obama personally intervened and negotiated a compromise between France and China, White House officials said.

It was a remarkable stroke of personal diplomacy by a new president who’s making his debut this week on the world stage.

The pact calls for added spending to stimulate growth, new regulation over all "systemically important" financial institutions including hedge funds, $1 trillion for the International Monetary Fund and an effort to list tax havens, as a way to "name and shame" them into becoming more transparent and cooperating with international rules.

Heading into the summit’s final hours, however, it appeared that the group would fail to reach a consensus, as French President Nicolas Sarkozy pushed to have the G-20 spotlight offending tax havens based on a list published Thursday by the Organization for Economic Cooperation and Development, and China objected, largely because it doesn’t belong to the OECD.

That was when Obama, long a champion of ending or curbing tax havens, decided to float a compromise and pulled Sarkozy aside, according to a senior White House official, who spoke on the condition of anonymity as a matter of policy.

"The president thought he could be helpful in resolving the differences," the official said.

Obama proposed that the G-20 merely "take note" of the OECD list, thus opening the door to implicit but not direct endorsement of that list.

"He sent a message to the Chinese. They were considering it (Obama’s message) for some time," the official said.

Obama then met with Chinese President Hu Jintao and Sarkozy in a corner of the summit meeting room, as the other world leaders waited.

Upon the trio’s reaching agreement, the G-20 summit then agreed to note the list of tax havens.

Sarkozy, who’d threatened days earlier to walk out of the summit if he didn’t get his way, said the final agreement represented "great progress."
Notice Thomma's source for this puff piece is an unnamed White House official (translation: "PR flack"); Thomma was just the eager scribe.

Hat tip: Sweetness and Light


Anonymous said...

What a pathetic piece of "reporting". I really cannot believe how deep in the tank these guys are for Obama and the DNC. They are not even seriously trying to hide it anymore.

Anonymous said...

Was someone expecting something other than a PR piece out of McClatchy?

Anonymous said...

And they blame their demise on the economy.

Anonymous said...

The REAL credit should go to:

1994 United Nations Development Report.

"Global Governance for the 21st Century" by the 1969 Nobel Prize for Economics, Jan Tinbergen. He wrote,

Mankind's problems can no longer be solved by national governments. What is needed is a World Government. This can best be achieved by strengthening the United Nations system. In some cases, this would mean changing the role of UN agencies from advice-giving to implementation. But some of the most important new institutions would be financial-a World Treasury and a World Central Bank. Just as each nation has a system of income redistribution, so there should be a corresponding 'World Financial Policy' to be implemented by the World Bank and the World Central Bank. Some of these proposals are, no doubt, far-fetched and beyond the horizon of today's political possibilities. But the idealist of today often turns out to be the realists of tomorrow.

In that report, it also laid out the changes to be made to the international level of government in order to complete the necessary powers: They included:

A World Central Bank which should have five functions:
(1) stabilize global economic activity
(2) lender of last resort to financial institutions
(3) calm jittery financial markets
(4) regulate financial institutions and
(5) create and regulate new international liquidity.

The institution named to be the successor organization was the International Monetary Fund.
This new central bank would float a new issue of Special Drawing Rights-SDRs and it would have "Global Macroeconomic Management" worldwide. It would also acquire some regular control of international banking activities.

A World Trade Organization to be the successor to the General Agreement on Trade and Tariffs.

An Economic Security Council to "review the threats to global human security and agree on required action." It would have 11 permanent members and another 11 rotating members. They would not have any veto and it would "coordinate activities of the UN agencies and watch over the policy direction of all international and regional financial institutions."

Other components mentioned included a World Anti-Monopoly Authority, a World Bank International Investment Trust and a World Bank Intermediate Assistance Facility." The report also called for a World Police force, an International Court of Justice and a World Treasury.

Anonymous said...

MSM = Marx stream media; The perfection of rottenness.

Anonymous said...

The liberal media in the UK is even worse than in the USA. They have become a complete nanny country. The Lords make the rules for the rabble. Sounds like our government rulers. The apple doesn't fall far from the tree. We have a senate that thinks they have become the house of Lords. The fact that they are dishonest cheaters and porkers, bothers them not.

Anonymous said...

Surely, our Lord will pour out his wrath on those liberal left-wing revisionists whose only single true accomplishment is to make our children cry. In that end time, when judgement's balance comes due, who will be left to cry for our children?

Anonymous said...

Obama Refuses to Bow To The Queen Of England, But Has No Problems Bowing To The King Of Saudi Arabia…
The book of amusing Barryisms has started chapter three in just three short months, making it perfect for the ‘Book of the Month Club.’ This is a multi-volume set in the making. The first title is, ‘My travels in 57 states.’ More trinkets for the MSM papers to hawk, and Oprah can shed more phony crocodile tears for cash. A win-win for the ongoing road show.

Anonymous said...

I feel touched by the hand of God. I now plan to move out of my subdivision to start my own compound in Idaho. We'll all wear prairie dresses and carry machine guns.

Also: glossolalia!

John Altevogt said...

6:18 Perhaps we wouldn't be so fearful of liberalism if its first inclination wasn't always to insult our faith.

Indeed, you have no idea what faith, if any some of these folks have, yet the first weapon in your arsenal is religious intolerance.

Anonymous said...

God is a myth, a man-made massive delusion. But hey, each to his own. I mean, I'm a Cubs fan, so who am I to laugh at faith in the never seen?

Nonetheless, people who insist on spouting off publicly about their superstitions invite mockery. Why should I treat this delusion with more respect than any other?

Anyway, opening day is coming soon.

Anonymous said...

Why should I treat this delusion with more respect than any other?

He says while under his breath you can hear the faint, "Obama Allahu Ackbar, Obama Allahu Ackbar, Obama Allahu Ackbar..Ohmmmmmmmmmmmmmmmmmm

Anonymous said...

Somehow McClathy came up with the money to send at least two reporters over to London with Obama. I'm sure all those loyal reporters who covered local news and were laid off appreciate this total waste of budget. Shameful.

Anonymous said...

8:10 AM

I wish I were as omnipotent as you claim to be.