Global Report - 17-September -2008

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*******www.instablogs****/ US Federal reserves rescues AIG from collapse The Federal Reserve has finally m...
*******www.instablogs****/ US Federal reserves rescues AIG from collapse The Federal Reserve has finally managed to turn the tide that could have could have shook the very foundations of the global market system. All the talk of near imminent collapse of AIG has been put to rest after Fed's $85b loan rescue. However the most radical intervention in central bank's history to save private business is bound to raise fresh controversy. The government put taxpayers hard earned at risk protect bad investments made by AIG and other firms. Besides why only AIG and not Lehman Brothers and Bear Stearns who were allowed to fade out? With a precedent already established the Federal reserve should probably brace itself for other possible bailouts. Finally, the deregulated financial system of the U.S stands badly exposed for its inefficiency and unavailability. The governments must introduce safety measures to keep a tab on the functioning of private financial businesses. Rest apart; the financial crisis is definite to ensure an intense political debate during Presidential campaign. Political parties in India demand implementation of repressive laws After the Delhi bombings voices advocating implementation of repressive laws are afloat like never before. Undoubtedly, India needs a security mechanism which can effectively fight the terror threat but we certainly do not require a set of demonic laws that infringe all human rights. Repressive laws such as TADA and POTA cannot be the antidote to terror. Such laws based on ethnic profiling are counter productive and have done more harm than good in the past. Our report card on human rights violation is already dismal and replete with incidents of fake encounters, custodial deaths etc. Implementation of such draconian laws will only push the radicalization of the moderates and recruitment drive of the extremists. The government should not therefore consider the implementation of such laws. It is time to drop all partisan politics and devise concrete measures that fight terrorism without violating the basic freedom to life and liberty. Britain introduces Sarah's Law to ensure child protection Sarah's law is a gigantic leap in fighting crimes against children within United Kingdom. Finally Sarah Payne's death at the hands of a convicted pedophile Roy Whiting has led to dramatic response from public authorities. It allows single mothers, parents and guardians can seek police help in conducting background checks on somebody with close access to their children. Information on people who could pose a threat to the children's lives will empower the parents and help the latter protect their children better. However when compare to Megan's law in US the law falls short in one respect. It does not allow the information regarding convicted sex offender to be made public. This is unfair. The information on sex offenders should be made public so that other parents become vigilant towards freely roaming pedophiles that are a potential threat to their children. The scheme should be rolled out throughout Britain without any delay and communities should actively participate to ensure its success. South Korea and United States prepare for post Kim Jong II era Good news finally for the Korean peninsula. The rumors surrounding Kim Jong II's frail health have finally paved way for a contingency plan to meet any eventuality following the north's collapse. A totalitarian dynasty under Kim Jong II has transformed the country into a vast prison camp, where living conditions are close to medieval. Whatever the state generated propaganda can come up with, nothing can cover up the Dear Leaders' disastrous policies, which have brought starvation and death to more than a million people since the 1990's. Many have fled the country after attempting the most daring escapes across the border. North Korea can boast of its nuclear capabilities, but nothing can conceal the squalor, misery and repression subjected on its populace. It's high time South Korea recognizes its responsibility and rescue its second half from a decade of tyranny without worrying about the cost of absorbing their newly liberated brothers. *******www.instablogs****/