The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans. 

Apparently Bernanke, that wonderful bipartisan soul who is so competent and wonderful that everyone in the village thinks Obama should leave him in charge is refusing to identify who got almost 2 trillion dollars of Fed cash. Bloomberg News is suing to find out. Personally I really, really, really want to know.

When Barack Obama met George Bush for the first time four years ago, it proved an unhappy encounter.  

Matters were not helped at the start when a presidential aide squirted sanitiser on George Bush's hands before they shook. 

When Barack Obama takes the oath of office on January 20, Americans won't just get a new president; they might finally learn the full extent of George W. Bush's warrantless domestic wiretapping.  

The international financial crisis has given world leaders a unique opportunity to create a truly global society, Britain's Prime Minister Gordon Brown will say in a keynote foreign policy speech today. 

In his annual speech at the Lord Mayor's Banquet, Brown - who has spearheaded calls for the reform of international financial institutions - will say Britain, the United States and Europe are key to forging a new world order. 

The International Atomic Energy Agency (IAEA) has obtained evidence suggesting that documents which have been described as technical studies for a secret Iranian nuclear weapons-related research program may have been fabricated.

Barack Obama will move swiftly to unpick many of what he sees as the most egregious acts of the Bush administration when he enters the White House in January, including restrictions on stem cell research and moves to allow oil drilling in wilderness areas, a leading member of his transition team said yesterday. 

John Podesta, a former chief of staff to Bill Clinton whom Obama has put in joint charge of his transition process, indicated the incoming president would use extraordinary powers to force through rapid change.

An op-ed in the conservative Wall Street Journal (June, 2008) provides another example of how there isn’t a dime’s worth of difference between Republicans and Democrats, especially when it comes to foreign policy.

The op-ed, entitled “Don’t Expect a Big Change in US Foreign Policy” by Timothy J. Lynch and Robert S. Singh, argues that no matter who is elected president — McCain, Obama, or Clinton — foreign interventionism will continue to be the order of the day.  

President Nicolas Sarkozy would like to emerge as the economic “president” of Europe until 2010 - overseeing a united response to the world financial crisis by the 15 Eurol and nations and Britain.  

The French president has launched a diplomatic and media campaign to suggest that his current role as conductor of the European Union economic orchestra, due to expire in December, should be extended informally, until the end of 2009.

from Alan Ramsey ….. 

as the murray-darling collapses ….. 

The Federal Opposition says the Government needs to provide evidence that its new industrial relations laws will make people's jobs safer. 

Workplace relations spokesman Michael Keenan says many businesses are seeking answers, particularly in the context of the international credit crisis.

US President George W Bush has said he and Barack Obama will discuss issues such as the global financial crisis and the war in Iraq "early next week". 

In a speech at the White House, Mr Bush congratulated the president-elect and said he would make every effort to ensure a smooth handover on 20 January. 

from Crikey ….. 

Tears and laughter. This is what Obama means 

From Washington DC, US correspondent Guy Rundle writes: 

from Crikey ….. 

Banks dig in over RBA cut 

Some serious misunderstanding has arisen between Kevin Rudd's office and George W. Bush's White House. It concerns a telephone conversation between Bush and Rudd. Let me give you the chronology. 

The bubble world of George W. Bush was bound to burst.  

Based on fantasies, false promises, lies, and bait-and-switch tactics, it was destined for foreclosure.