Obama Hits Resistance at G20

Obama Hits Resistance at G20

online.wsj.com

LONDON -- President Barack Obama had more success with former Cold War combatants than with some European allies as the Group of 20 summit of world leaders began, starting new talks on arms and trade with Russia and China but facing a challenge from France and Germany over economic leadership.

Mr. Obama began by conceding U.S. culpability in starting the global financial crisis, but also called on Europe and others to do more to end it, in an opening news conference with the summit host, BritFrench President Nicolas Sarkozy and German Chancellor Angela Merkel answered just hours later with a combative appearance of their own, demanding fast and strict international regulation of the world financial system; Mr. Sarkozy called it "nonnegotiable."

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The news is just coming out of the G20 and Obama did not get what he wanted - at all. He wanted a global stimulus package - no deal. He wanted minor additional regulation of hedge funds - nope, massive regulations will be put in place.

The Germans and the French pushed him and we folded his hand.

It is one thing to chat up the job. Its one thing to walk about like a rock star, giving out iPODs and DVDs. It is quite another doing the job and dealing with very serious people. At some point we're going to have to see some substance out of this gent or the US is going to take it in the shorts.

Read what he went into this summit wanting and what he got out of it.

online.wsj.com
(visit the link for the full news article)

An the Wall Street Journal, bastion of the marketeers, said...

...conceding U.S. culpability in starting the global financial crisis,

Well, well, I guess that makes us LIABLE now doesn't it?

I never thought I would see the day when our own President would lay down to the whims of the Transnational Bank Cartel, and take the blame for THEIR Ponzi scheme.

..., he was a lawyer right? He knows what he is doing, I'm sure someone will reassure me that this is for the benefit of the American people.

Our so-called 'leaders' are devoid of shame; because there will be no consequences for their acquiescence to the money masters. Except the guarantee of wealth and power for their posterity.

It breaks my heart!

I wonder how long it will be before Obama asks the President of France to resign?

Seriously, I heard Obama say something about going over there to listen not lecture. He also said something about us being peers to other nations. This IMO showed respect but alsopointed out Obama's weakness. I feel like he wants them to like him and will do anything to stay on their good side.

If he really believed his plan was the best fit, he should have been more forceful and convincing. It is OK to use the word peer but even within peers, there are leaders. We are still the world superpower and many countries in the world are expecting us to lead, not just listen.

He had come, he told an audience that included Secretary of State Hillary Clinton and Secretary of the Treasury Timothy Geithner, "to listen, not to lecture." The phrase had already been telegraphed by his press team, but it was no less powerful for that, especially to an audience used to his predecessor's homilies on American views and values. More startling, Obama said the U.S. was coming to the G-20 "as a peer" of the other nations. Dismissing speculation over rifts as exaggerated, the President maintained that there had been "an extraordinary convergence."

www.time.com...