On energy and global warming, Obama offers a set of forceful proposals.
Only now, after American forces have been fighting for a year longer than they did in the Second World War, is there a glimmer of hope that the conflict in Iraq has entered a stage of fragile stability.
The indirect costs, both of the war in particular and of the Administration’s unilateralist approach to foreign policy in general, have also been immense.
Treasury Secretary Henry Paulson arrived in town (via Goldman Sachs) a Republican, but it seems that he will leave a Democrat.
In other words, he has come to see that the abuses that led to the current financial crisis––not least, excessive speculation on borrowed capital––can be fixed only with government regulation and oversight.