House passes bill to sue OPEC over prices...
The Old Titans All Collapsed. Is the U.S. Next?
By Kevin Phillips
The United States of 2008 is the world's leading debtor, has by far the largest current-account deficit and is the leading importer, at great expense, of both manufactured goods and oil. The potential damage if the world soon undergoes the greatest financial crisis since the 1930s is incalculable. The loss of global economic leadership that overtook Britain and Holland seems to be looming on our own horizon. Continue
Wolfowitz takes helm of US-Taiwan Business Council: He was forced to resign the top World Bank job last June after an internal probe found he violated rules by arranging a lucrative pay-and-promotion package for his girlfriend, a bank employee.
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House passes bill to sue OPEC over oil prices: The House of Representatives overwhelmingly approved legislation on Tuesday allowing the Justice Department to sue OPEC members for limiting oil supplies and working together to set crude prices, but the White House threatened to veto the measure.