Maybe just because the U,S President drops a dime and tells foreign leaders to adjust their schedules because he wants to see them at the White House won't get the same response so much anymore. This seems to be the first evidence that the rest of the foreign leaders won't beat such a hot path to sit with the American president and get pictures taken in the White House. No more most of the games being played being played on our turf. It might be more like a lot of the future games will be played either on the other guy's field or a neutral site. Looks like our Prez has been reduced to being "just one of the guys".

When it's our political leaders and our businessmen that have cost the rest of the world so much with our incompetence and greed, I guess we earned it. Too bad.

Here's an article from the weekend Wall Street Journal...

http://sbk.online.wsj.com/article/SB...538447677.html

"I’ve always believed that America’s government was a unique political system — one designed by geniuses so that it could be run by idiots. I was wrong. No system can be smart enough to survive this level of incompetence and recklessness by the people elected and appointed to run it." (Tom Friedman, The New York Times, 2008)

Kahuna,

I agree, things are changing substancially in how we are viewed by the world and our "power" and influence. I think multiple factors have contributed to the eroding respect with regard to our country, including but not limited to our foreign policy and the present financial debacle.

That being said, the statement, "French President Nicolas Sarkozy in particular has pressed for the economic summit to be held in New York City, where, he says, "everything started." really bothers me. Had each and every country involved in this mess not participated in the same shady financial dealings and speculation in an effort to ride the wave of greed they wouldn't have much to complain about. No one forced them to invest, they did so just like everyone else, because they thought they could make money. I doubt they were duped, rather they participated at the same level with regard to mortgage repackaging , credit default packages,etc that everyone else did. Unfortunately we seem to be the "bad guy". This is a global economy and to shift all of the blame to the U.S. is unreasonable. Unfortunately I think it further speaks to our eroding position as a world power.
Just my opinion. I would appreciate your opinion on it though.

he is a short timer with less than 100 days to go.
Or that they know, like in all previous meetings regarledless who calls it, it is a futile waste of time.
Or could it be they have just as big a problem at home home and they don't have the time to waste at a be polite meeting, that accomplishes nothing.

Nah, it feels better to hang your face in your boots and talk about how the worlds view of us has changed. If we were willy nilly writting checks like we used to they would come if Mickey Mouse was calling the meeting.

Just shows to go that one can back into any question when they think they know the answer.

Just remember the USA in it's worst day with it's worst leaders is a far better place than the best of the best in the rest of the world. Just ask the foreigners!!!!!

BTK

PS...I don't know what y'all are going to do when 'W' waves goodbye next year. Who ya gonna blame then?

Ya know, didn't see anyone blaming W, in fact you were the only one that brought him up.
Also, as far as I go, expressing opinions does not constitute hanging ones head in his boots.
It is so pitiful that everything has to be brought back to some robotic party line in nearly every discussion. It is part and parcel of what is hamstringing us right now.

As far as your first comments, very strong possibilities, may just be part or all of the answer..who really knows?

Even though I spent a career in banking, I can't answer that.

Here, try this simplified scenario and try to answer it yourself...

The credit exposures that have now lead to massive losses were all based on loans to U.S. citizens by U.S. lenders, secured by U.S. real estate, packaged and resold as mortgage-backed securities by U.S. investment banks, which were risk-rated by U.S. debt rating agencies and insured by a big U.S. insurance company. On top of that simplified scenario, a wide variety of complicated credit-based derivative securities were designed and sold by U.S. investment bankers to buyers who were told that the derivatives would either enhance returns, limit risk, or both. Of course, no one wanted any of these securities to fail. Even the smartest credit analysts and risk containment officers at major U.S. financial institutions weren't able to simulate or project rhe losses that could occur among the complicated, intermingled and interrelated financial securities.

Then, a lot of the foreign banks decided to get in on the action. Wall Street investment bankers, financial advisors, etc. encouraged banks, companies and individuals to purchase these securities or derivatives or serve as counterparties to some of the derivatives. They almost cerrtainly couldn't explain the real risks either, but they could point to the high ratings given by Moodys and Standard & Poors, the U.S. rating agencies, and the fact that the snart U.S. bankers who created these instruments were heavily exposed and must know what they're doing.

In a couple of paragraphs, I'm guessing that pretty much sums up how a lot of the foreign banks, companies and individuals got involved in our mortgages, mortgage-backed securities and their associated derivatives.

So, given this description, should the foreign accusers of the U.S. been more careful? Sure? Were they greedy as we were? Sure. But in the end, they were debt instruments made by U.S. borrowers, secured by U.S. houses, created by U.S. banks and sold by U.S. investment banks.

Is the rest of the world justified in blaming the U.S. for their huge losses? You be the judge.

we let it happen to ourselves.. Just like letting companies our source jobs to other countries, borrowing money from peter to pay paul. We complain about our financial situation, but yet spend money we dont have on conflicts in other parts of the world. We bail out or as McCain would put it "Rescue" Wall St from themselves and tell everyone there will be no new taxes. Someone has to pay for it. If you already owe China 2 arms and 1 leg, how can you bail out wall st and tell everyone it will be ok. Someone is going to pay for it, you might think Mickey or Minni Mouse will? Not happening.
yep "W" will be gone, the only people to blame is still the same. Blame Congress,, the President, or whoever. It comes down to a he said, she said affair.
It is true, when our market does bad, other countries markets follow the lead. they can blame us all they want. Sticks and Stones.... remember that saying..

"Here, try this simplified scenario and try to answer it yourself"

As always Kahuna, appreciate the input. Good balanced food for thought, and I can see your point. My feelings still persist that in this global economy the naivete of our foreign investers is somewhat suspect. That being said we definately seem to have led the charge. So, enough blame for everyone I guess, just feel a little resentful of the lable from the quote above I guess.