The grim global equaliser

Jamaica Observer: “The grim global equaliser”
“With these words I make my covenant with you; I promise that never again will all living beings be destroyed by a flood, never again will a flood destroy the earth. I am putting my bow in the clouds. It will be the sign of my covenant with the world.” Genesis 9:11 and 13.

Jamaica Gleaner: “FSC to free up unit trusts regime”
Rohan Barnett, the new boss of Jamaica’s Financial Services Commission (FSC), hopes to soon lift the decade-old moratorium on new unit trusts, while the FSC continues to work with stakeholders on the longer-term matter of untangling knotty taxation questions that have stymied the creation of mutual funds here.

Jamaica Gleaner: “Bernanke says regulatory overhaul needed”
The United States’ financial regulatory system must be overhauled to strengthen oversight of banks, mutual funds and large financial institutions whose collapse would put the entire economy in peril, Federal Reserve Chairman Ben Bernanke said yesterday.

BusinessWeek, Bovino: “The Global Economy: Strong Headwinds for Europe and Asia”
Although the U.S. entered recession first, Britain and Japan—and to a lesser extent Europe—now face even larger hurdles.