Links for 2008-09-15

  • Too Few Regulations? No, Just Ineffective Ones | – “The biggest financial deregulation in recent times has been an implicit one — namely, that hedge funds and many new exotic financial instruments have grown in importance but have remained largely unregulated. To be sure, these institutions contributed to the severity of the Bear Stearns crisis and to the related global credit crisis.”
  • A Baltic Response to the Bear | – “That can best be accomplished by concentrating on Russia’s northern flank, where NATO is united and relatively strong, rather than becoming embroiled in new quarrels over a future NATO role in the Caucasus region and in Ukraine, where the alliance is still divided.This is the time for Bush and other NATO leaders to give high priority and visibility to discussions with Finland, which is considering joining NATO. If Finland joins, Sweden might follow, Swedish officials say. “
  • Zakaria: The World Isn’t So Dark | Newsweek – “The 1970s witnessed a frenzied argument that the Soviet Union was surpassing the United States militarily and was about to ‘Finlandize’ Europe. The reality, of course, was that when neoconservatives were arguing that the U.S.S.R. was about to conquer the world, it was on the verge of total collapse.”

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