President Barack Obama penned an OpEd which ran in the Los Angeles Times.
We are living through a time of global economic challenges that cannot be met by half-measures or the isolated efforts of any nation.
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No one can deny the urgency of action. A crisis in credit and confidence has swept across borders, with consequences for every corner of the world. For the first time in a generation, the global economy is contracting and trade is shrinking. Trillions of dollars have been lost, banks have stopped lending and tens of millions around the globe will lose their jobs. The prosperity of every nation has been endangered, along with the stability of governments and the survival of people in the most vulnerable parts of the world.
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We have learned that the success of the American economy is inextricably linked to the global economy.
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My message is clear: The United States is ready to lead, and we call on our partners to join us with a sense of urgency and common purpose.
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Through our example, the United States can promote a global recovery and build confidence around the world; and if the London summit helps galvanize collective action, we can forge a secure recovery, and future crises can be averted.
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We must put an end to the reckless speculation and spending beyond our means; to the bad credit, over-leveraged banks and absence of oversight that condemns us to bubbles that inevitably bust. Only coordinated international action can prevent the irresponsible risk-taking that caused this crisis. That is why I am committed to seizing this opportunity to advance comprehensive reforms of our regulatory and supervisory framework.
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All of our financial institutions — on Wall Street and around the globe — need strong oversight and common- sense rules. All markets should have standards for stability and a mechanism for disclosure. A strong framework of capital requirements should protect against future crises
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I know that America bears its share of responsibility for the mess that we all face. But I also know that we need not choose between a chaotic and unforgiving capitalism and an oppressive government-run economy. That is a false choice that will not serve our people or any people.
What makes this so interesting is that this OpEd was published in more than 30 papers around the globe (h/t” AmericaBlog).
Here is the list of papers this OpEd was published in:
1. Al Watan (Gulf States)
2. Arab Times (Gulf States)
3. Asharq Al Awsat (Arab-wide paper in Arabic)
4. The Australian (Australia)
5. Baltimore Sun (United States)
6. Bangkok Post (Thailand)
7. Chicago Tribune (United States)
8. Clarin (Argentina)
9. Corriere della Sera (Italy)
10. Die Welt (Germany)
11. El Pais (Madrid)
12. El Mercurio (Chile)
13. Eleftyropiea (Greece)
14. Estado de Sao Paulo (Brazil)
15. Gulf News (Gulf States)
16. The Hindustan Times/ The Hindu (India)
17. International Herald Tribune (London)
18. Kristeligt Dagblad (Denmark)
19. Le Monde (Paris)
20. Lidove Noviny (Czech)
21. Los Angeles Times (United States)
22. The News (Pakistan)
23. NRC Handelsblad (Netherlands)
24. Saudi Gazette (Saudi Arabia)
25. South China Morning Post (Hong Kong)
26. Straits Times (Singapore)
27. Sunday Times (South Africa)
28. Svenska Dagbladet (Sweden)
29. Syndey Morning Herald (Australia)
30. WProst (Poland)
31. Yomiuri Shimbun (Japan)
Thirty-one papers worldwide ran Obama’s OpEd! To quote Joe Sudbay from AmericaBlog; I just can’t imagine George Bush pulling that off.
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