“Putting meat, muscles on the bones of the skeleton.” US Fed chairman Ben Bernanke and Strauss-Kahn.
PHOTO BY REUTERS
IMF warns of meltdown
Says time is short in fighting panic
WASHINGTON — The International Monetary Fund
warned on Saturday the world’s financial system was near
meltdown and France promised that a meeting of European leaders
in Paris will detail measures to keep a market panic from
triggering the most severe global downturn in decades.
The IMF said it backed a Group of Seven plan
to try to stabilize markets and urged "exceptional vigilance,
coordination and readiness to take bold action" to contain a
firestorm that pushed global stocks to five-year lows on Friday.
French President Nicolas Sarkozy and German
Chancellor Angela Merkel, meeting in France, said they had
"prepared a certain number of decisions" to present at a
European summit on Sunday to try to restore normal flows in
blocked credit markets.
TOMORROW, Oct. 14, the Supreme Court will
send signals on the level of its presumed independence when it
votes on the controversial Memorandum on Agreement on Ancestral
Domain.
The vote will promote or dispel suspicions
that the tribunal, whose independence is guaranteed by the
Constitution and is a co-independent and co-equal branch of
government, is no longer truly independent and co-equal.
Tomorrow might well be the day of deliverance
from the evils of wrong interpretation of the Constitution that
in not too few cases tends to favor the President, as in the
grant to her of executive privilege that benefits nobody else
except the recipient. The privilege has had the effect of hiding
the truth, even sweeping under the rug a crime or shielding a
criminal.
JOSE "Joey" de Venecia III and civil society
groups will file today the fourth impeachment complaint against
President Arroyo before the House of Representatives.
UP Law Professor Harry Roque said they would
be at the Batasan complex in Quezon City early in the morning.
"Last year, lawyer Roel Pulido filed an
impeachment case endorsed by Laguna Rep. Edgar San Luis, an ally
of the Arroyo administration. We are preventing Pulido or any
stalwart to block this complaint against the President since
there can only be one impeachment complaint per year," Roque
said.
