Posted by: tristar3research | March 14, 2009

Global Pulse: G20- A New World Order

In the context of the G20 meeting this weekend in the English countryside, it may be worthwhile to review what got accomplished in the last meeting in November. There’s clearly a rift between US/UK and Continental Europe and the BRIC countries. China is worried about it’s U.S. Treasury holdings. UNDERSTOOD!

G20 finance ministers promised rescue money for troubled emerging market economies on Saturday and said they would use their full fiscal and monetary firepower to combat the worst downturn since the 1930s. “We are committed to deliver the scale of sustained effort necessary to restore growth,” the ministers said in a statement promising extra money for the International Monetary Fund and regional lenders such as the Asian Development Bank.

So they went and jawboning got only a doubling of funds for the International Monetary Fund (IMF).  But surely, hedge funds are going to face new regulations, partly in reaction to a series of Ponzi schemes, not the least was perpetrated by former NASD head Bernie Madoff who refuses to tell anyone where the money he stole went.  At the G20, UK head Gordon Brown, who hosts a G20 summit on April 2, said “massive change” was about to take place in financial market regulation, notably supervision of hedge funds and other areas currently only lightly regulated.

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