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France and Germany remained far apart on approach to banking regulation in Dec. 2012. Germany does not support regulatory powers of the ECB over Germany's small and midsized savings banks which lend to small businesses and consumers. France supports regulation of all 6000 banks in the eurozone by the ECB. Germany also raises concerns about how the regulatory powers of the ECB can affect its powers in setting interest rates. Germany does not support the British position for regulatory powers over London based banks to remain in Britain. Coming up with a new banking supervisor for European banks with regulatory powers of supervision is needed for Spain to get access to additional EU financing. This is also part of the new financial architecture for the eurozone, including deposit guarantees, which needs to be set up.

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The Obama aadministration Defense Secretary, Robert Gates, actually ran the CIA effort to supply the Mujahideen in Afghanistan during the Reagan administration.

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The step by step process Mr. Obama used to arrive at his decision to send 30,000 troops to Afghanistan. The use of charts showing the buildup at one of the last meetings, and how President Obama expressed frustration at the length of time the troops would be there, and then says "I want this curve pushed to the left," pointing to the bell curve showing buildup and withdrawal after some years. This says Baker may be the pivotal moment for the expansion of the war. What he meant was something like a fast buildup and rapid draw down. He asks Petraeus how fast the Iraq buildup for the surge took place, and Petraeus says 6 months. The option being discussed was Option 2A carefully prepared to get a30,000 troop addition approved by Defense Secretary Gates and presented to Mr Obama on November 11, 2009. What Obama said at that point was according to NYT reporter Baker's sources is - "What I'm looking for is a surge, this has to be a surge." Gates was the seasoned person in saying the right things at just the right time and not sooner in these negotiations. The process had seen alot of back and forth swings, leaks including the McChrystal report leak and the Ambassador Eikenberry report leak, and the President preferring to keep his thoughts to himself and using University of Chicago law school style analytical thinking to wade through the swamp of issues in this place called Afghanistan. With that Gates shows how that curve can be moved up and gets the President to allow for conditions at the time to be the factor for withdrawal conditions. In effect the President's analytical thinking an approaches good for a law class in the University of Chicago and potentially very unlikely to allow for agrasp of the muddied details and complexities of social, political and historical type in Afghanistan, were being applied to a crucial mind decision that would have a mind boggling impact. Had Gates served the country well? Had Mr Obama served the country well with these analytics, when a more intuitive decision based on understanding of all the conditions on the ground by talking to different people who had first hand experience in Afghnistan and Pakistan- see the links here to first hand reports- would have accomodated the peculiarities of the Afghan situation better than some charts and numbers? Speaker Pelosi and Congressman Obey had indicated lack of support among Democrats. The Budget Office had provided a cost estimate of 1 trillion dollars for 10 years. None of this appeared to matter in the final decision. NATO would supply the additional troops to get the number closer to 40,000. Gates had been the most seasoned player through years of negotiating with Congress, and he helped formulate Option 2A for 30,000. The President makes one final Professorial comment at the final meeting on November 29, 2009, after announcing his decision to support Option 2A, -"but if you don't agree with me say so now" and repeats saying "tell me now." Gates signals to Vice President Biden who inquires whether this is a Presidential order that it is one. Mullen and Petraeus say "fully support." America had by using charts numbers and law school analytical processes turned the complexities of Afghnistan into something else, but these analytics had still to be played out in the vast mountainous spaces of Afghanistan and in the homes and workplaces of America in 2010 and beyond. It is hard not to sense that something serious was lost that day. ...

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Courses that use the material on the economic crisis as part of the course or redesign the course around it are growing on college campuses. The courses are in different subjects from English and sociology and Latino studies to economics and finance all drawing from the material. The heightened interest of students as it shapes the job market and prospects.

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About a third of French children are obese. DW.  France 24 looks at this problem related to eating habits and exercize. These figures are up by 75% showing that current lifestyles with overuse of mobile phones and lack of exercize, poor nutrition, play a role.

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A US postage stamp shows Althea Gibson playing tennis at Wimbledon. In 1957 she became the first Black tennis player to win Wimbledon tennis championships receiving the award from Queen Elizabeth II. Althea Gibson was the first black player to play at the US Open in 1950.

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Chris Liddell, chief financial officer at GM and a former Microsoft CFO, brings a new strategy of debt reduction to GM's future plans. The thinking is that debt compounded all of GM's problems. Liddell pitched investors in the recent IPO with his plan to pay off $25 billion in debt and pension obligations. His plan is to hold only a token amount of debt. A lot depends on the success of new models in the marketplace.

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Since January 2, 2009 consumer goods companies, like Procter and Gamble and 3M, are also playing a part in the decline of the Dow Jones Average. Only Chase JP Morgan plays a part in the decline of the Dow among financial stocks, because the other financial stocks have fallen so far that their decline makes little difference. See the other link about consumers waiting for paychecks to make sizable consumer products purchases, which is also not a good sign. What worries analysts is that we are in the beginning of a consumer goods recession which has a long way to play out.

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Mr. Kwarteng is fired as finance minister of UK, Jeremy Hunt takes his place. There is an actual increase of the corporation tax with this U turn by Liz Truss, the UK prime minister. The Conservative party now rallies behind Truss. 

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Turning Manchester city into the hardest team to play is hard thought and hard won says this report in The Times. It says it does not run naturally with Pep Guardiola's idea of beautiful attacking football and his one of his finest achievements. This was seen in the game with Atletico Madrid with few shots on goal by Atletico Madrid. This could be decisive in the game with Liverpool.

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The Delta variant is bringing back the sense of how important a role masks play in controlling the pandemic even as more of the population gets vaccinated. Fan filled soccer stadiums and sports activities, entertainment activities, where social distancing is not practiced, is increasing risks of spreading the virus. Mask use is seen as an essential defense in preventing spread of the coronavirus worldwide and in every country.