- Gentlemen, start your drones: Judge’s ruling opens door for commercial use
- Soldier who hid, bragged about not saluting flag to be punished — in secret
- ‘Maverick’ of the seas: ‘Top Gun’ school for U.S. ship officers to launch
- Putin declares Sochi Paralympics open amid Ukrainian protest
- ‘In Jesus name, we pray’ sparks ire at Ohio council meeting
- Navy’s first laser weapon ready for prime time; drone killer to deploy this summer
- Billionaire backer: Rick Santorum ‘needs to be heard’ in 2016
- Obamacare fallout: 49 percent pessimistic; 45 percent ‘scared’
- DHS accused of holding U.S. citizen at airport, using emails to pry into her sex life
- Seattle socialist: Minimum-wage discussion skewed by ‘right-wing’ GAO analysis
Taxpayers must pay the freight for over-budget train projects
Topic - Adam Posen
The Group of 20 meetings in Moscow this week offer the world's industrial powers an opportunity to push for better coordination of global financial regulations that give banks clear guidelines to follow, the new chief of the Washington-based Peterson Institute for International Economics said in an interview Tuesday.
The world's major economies are in a dangerous race to impose austerity policies that could spill over into another global recession, the new head of one of Washington's most influential think tanks on the economy warned Wednesday.
Mr. Posen said that while the eurozone's currency problems show no immediate signs of getting better, things may have to get a lot worse before there is a real political or social incentive to change course.
International regulators "need a procedure in place so that banks believe they will actually shut them down," he said.