On this Tuesday, January 9, 2009 the DOW is down 1.43, the NASDAQ is up 17.73, and the S&P is up 3.23

THE STATES:

The first Guantanmo Bay detainee was transferred to the United States. Ahmed Ghailani pled not guilty before a federal judge in New York for his role in the bombing of two U.S. embassies in East Africa.

Captain Chelsey “Sully” Sullenberger, the heroic pilot who successfully landed in the Hudson River earlier this year after the US Airways jet he was flying was hit with bird strikes testified before the National Transportation Safety Board (NTSB) today. According to Sullenberger it was just a matter of second before he knew the river “long enough, wide enough and smooth enough.”

The NTSB highlighted the transcript of the emergency landing as apart of a 3 day hearing on aircraft emergency and escape issues.

Meanwhile in Virginia, Democratic voters are going to the polls in a hotly contested race between former DNC Chairman Terry McAuliffe, State Senator Creigh Deeds, and Brian Moran, a former member of the House of Delegates. Voter turnout is expected to be very low compared to past years.

On the culture war front, murdered abortion doctor George Tiller’s clinic was shut down in Wichita, Kansas.

MIDDLE EAST:

Saad Hariri, the son of the late billion dollar mogul and Lebanese Prime Minister Rafik Hariri, is favored to become the nation’s next Prime Minister, the Associated Press reports. Hariri’s coalition the March 8 movement won parliamentary elections that proved to be a setback against Hezbollah.

According to the Jerusalem Post, Hariri, will pursue its own track in terms of Middle East rather than initiating peace talks with Israel.

And despite differences on Israel’s settlement expansion between President Obama and Prime Minister Benjamin Netanyahu, U.S. envoy George Mitchell assured Israeli President Shimon Peres that the alliance between their two countries would remain secure.

AFPAK:

In Peshawar, Pakistan a city near the country’s border with Pakistan, suicide bombers hit the Peal Continental Hotel killing 11 and wounding 55. Police estimate that the bomb contained 1,000 lbs. of explosives, and is likely part of a terror campaign by the Taliban in retaliation to the Pakistan military’s strike on militants in tribal areas along the Afpak border.

ASIA:

The Russian Foreign Ministry is indicating that the North Korean government is preparing for new missile launches and South Korean officials believe that such missile would be able to reach the United States. Defense Secretary Robert Gates assured U.S. lawmakers today that the U.S. military can shoot down any missile launched from the Korean peninsula.

EUROPE:

Based on the strong showing of center-right parties in last weekends European elections, the former Portugese Prime Minister Jose Manuel Barroso is seeking a second five year term as President of the European Commission. The European Commission is the executive branch of the E.U. responsible for the union’s day-to-day operations.

LATIN AMERICA:

On Monday in Sonora, Mexico, a day care fire claimed the lives of 44. The day care center apparently has one working door, with families having to punch holes in the complex so that the children could escape. More than 30 children remain hostpitalized.

The government will launch an impartial inquiry into the matter. The co-owner of the center is reportedly a relative to the wife of President Felipe Calderon.

AFRICA:

Omar Bongo, the President of Gabon has died today, marking the end of an African country’s longest tenure of leadership. Bongo’s son, Ali Ben Bongo, is favored to succeed him.

Photo courtesy of Al Jazeera. Hezbollah Secretary General Hassan Nasrallah concedes defeat in yesterday’s Lebanese elections.

On this Monday, June 8, 2009, the DOW is up 1.36, the Nasdaq is down 7.02 and the S&P is up 2.96.

THE STATES:

The U.S. Supreme Court handed down a series of rulings today. Most notably, in Caperton v. Massey, the court ruled 5-4 that West Virgina Judge Brent Benjamin should have recused himself from a case involving his largest campaign donor, A.T. Massey. Benjamin helped overturn a $50 million judgement against the defendant sought by the Harman Group, the plaintiff in the case. With the majority opinion by Justice Anthony Kennedy, the case will likely set new standards for the judicial recusal process.  Chief Justice John Roberts wrote the dissenting opinion, arguing that “this will inevitably lead to an increase in allegations that judges are biased, however groundless those charges may be.”

The court also ruled to uphold the “don’t ask don’t tell policy” and in an emergency court order delayed most of Chrysler’s assets to Fiat on consideration of appeal from three Indiana state funds.

MIDDLE EAST:

Lebanon is digesting the upset victory of the country’s March 14 movement led by the Saad Hariri son of the country’s late Prime Minister Rafik Hariri. Hezbollah’s Hassan Nasrallah, who leads the March 8th Coalition, conceded defeat. The State Department designated terror group has had veto power over the current governing coalition since their reign of terror in Beirut last year, but March 14 sees their victory as a mandate to have full governing powers in the next coalition.

In Israel, Prime Minister Benjamin Netanyahu announced that he will be giving a speech about his plans for his country’s peace and security. It is unclear whether he will support a two-state solution, but he did mention that he wanted to achieve peace “with the Palestinians and the Arab world.”

Netanyahu’s speech would follow Obama’s recent overtures in Cairo, in which he advocated for a two-state solution.

Meanwhile, in South Baghdad, a bus bombing killed 7 people in a mixed Shiite-Sunni neighborhood.

Finally, on the heels of Iran’s upcoming presidential election, demonstrators from the loyalty and the opposition took to the streets of Teheran. Mir Hussein Moussavi leads current President Mahmoud Ahmedinejad in the polls.

AFPAK:

The Pentagon admitted mistakes regarding an air assault on Afghanistan’s Farah province this week. Among the 80-95 people killed, were 20-35 civilians used as human shields. The Pentagon has taken a much stock in counter-insurgency doctrine, which advocates the security of the population with less of a reliance on kinetic force so as not to alienate civilians in stability operations.

In other Afpak news, two aides of a radical Islam cleric were killed Saturday when a roadside bomb exploded near a convoy carrying prisoners.

In Afpak analysis, C.J. Chivers of The New York Times is continuing to impress with this article about the maturity (or lack their off) of Afghan national forces.

ASIA:

Euna Lee and Laura Ling, two American journalists have been convicted and sentenced to 12 years hard labor by the North Korean regime for illegal entering in the country. The prisons in the PRK are said to be akin to the Soviet gulags where inmates are given inadequate rations of food. Analysts say that the two might be used by Premier Kim Jong-Il as a bargaining chip. The U.S. says that it will use all possible channels to negotiate a release.

EUROPE:

Amid allegations of mismanagement, a scandal plagued plagued cabinet, and a devastating defeat in European elections this past weekend, British Prime Minister Gordon Brown has survived a vote of no confidence before Parliament today, convincing his fellow MPs that though he isn’t perfect he is ready to face the country’s problems.

In Germany, the conservatives continue to dominate the political lanscape, as Angela Merkel’s party, the Christian Democratic Union (CDU) won 38 % of the vote in European elections. The Social Democrats only won 21% of the vote.

AFRICA:

Zimbabwe President Robert Mugabe has launched a new trade pact within COMESA (Common Market of Eastern and Southern Africa) in order to lower free-trade restrictions between 19 African nations. Members within the bloc have a combined domestic product of $360 billion.

LATIN AMERICA:

The large tail section from the Air France Jet on course from Rio De Janeiro to Paris was found in the Atlantic Ocean today helping authorities narrow in on the plane’s black box flight recorders. Two U.S. Navy devices are set to arrive at the crash scene in hope that they might procure them.

Photo Courtesy of The AP, people wear surgical masks as they enter a hospital in Mexico City. The country has experienced an outbreak of a swine influenza.

On this Friday, April 24, 2009 the DOW is up 87.05, the NASDAQ is up 35.47, and the S&P is up 18.65.

THE STATES:

Democrats in Congress are putting their finishing touches on a new budget which would allow them to bypass Senate fillibuster through the expeditious tool of “reconciliation.” The budget includes a controversial overhaul of health care in the United States.

In another controversial move,  former Vice President Dick Cheney has issued a FOIA (Freedom Of Information Act) request to the Obama administration to de-classify two documents that could prove legal justification over the Bush Administration’s use of “Enhanced Interrogation Techniques.”

AFPAK:

Reuters is reporting that the Taliban withdrew most of their forces from the Buner Valley on the Afpak border, just days after they took it over. The reason for the withdrawal is unclear, but the Taliban’s presence in the region has grown disproportionately since the terror group took over the neighboring SWAT valley.

UPDATE: The New York Times is reporting that the Taliban still have a hold on most of the region. The Wall Street Journal is reporting that that they retreated on a Pakistani military warning that strikes against the them are imminent.

MIDDLE EAST:

After yesterday’s attacks in Diyala and central Baghdad that killed over 70, 60 more are dead today in the al-Kadhimiya neighborhood of Baghdad after two suicide bombers targeting Shiites and Iranian pilgrims exploded themselves near the shrine of Imam Musa al-Kadhim.

EUROPE:

In a move that could skyrocket his approval rating Italian President Sylvio Berlusconi is planning to re-locate this summer’s G-8 meeting from the scenic Island of La Maddalena to L’Aquila, the medieval city ruined by this month’s earthquake. Such a move would bring in much needed revenue for reconstruction and would thus be a deterrent to globalization protesters.

ASIA:

In  comments to reporters in Seoul, Russian Foreign Minister Seregei Lavrov said that North Korea doesn’t intend to re-start talks about the country’s nuclear program. Lavrov also said that Pyongyang’s detractors shouldn’t take its obstinance as a reason to start an arms race.

AFRICA:

South African President-elect Jacob Zuma will have a lot of promises to keep when inaugurated. During his campaign, the ANC (African National Congress) leader raised expectations by emphasizing his focus on alleviating poverty, while assuring foreign investors that his populist rhetoric doesn’t mean that their stock in the country won’t be unsafe.

LATIN AMERICA:

16 people have died from a swine flu epedemic that is sweeping through Mexico. WHO (World Health Organization) officials are concerned by the potential of a global outbreak. Mexican President Felipe Calderon is reportedly going to order the use of the country’s 500,000 vaccines for primarily at risk health workers.

Photo courtesy of The Wall Street Journal. Taliban leaders hold a rally in the Swat Valley of Pakistan.

On this Wednesday, April 22, 2009 the DOW is down 85.70, the NASDAQ is up 2, and the S&P is down .20.

THE STATES:

In an apparent suicide, Freddie Mac interim CFO David Kellerman was found dead hanging in his basement in Reston, Virginia. Kellerman rose fast after the government takeover of the corporation and reportedly received $800,000 in bonuses. His neighbors say that he hired private investegators after reporters came to his door to ask about the compensation package.

AFPAK:

Holding “talks” with the Taliban have yet to prove their meddle. Weeks after the Pakistani military ceded territory to militants in the Swat Valley in exchange for a commitment to lay down arms, nothing of the sort has come to fruition. The Taliban have today, seized by force the Bruner district just 70 miles out of Islamabad.

MIDDLE EAST:

In a turn of events in the Middle East, Israeli Foreign Minister Avigdor Lieberman will be received by Egyptian Foreign Minister Omar Suleiman for talks about joint security. Lieberman was previously forbidden from traveling to Egypt after criticizing President Hosni Mubarak.

An internal inquiry into Israel’s action during last winter’s Gaza War concluded that the military’s conduct was lawful.

EUROPE:

Now that President Obama released the infamous CIA torture memos, European prosecutors now find it easier to investegate and try U.S. officials under the pretext of universal jurisdiction. U.N. special investegator Martin Shenin said that if figures like former Vice President Dick Cheney avoid prosecution in the United States they will likely face charges in Europe.

AFRICA:

South Africans are going to the polls today to vote in the country’s general elections. Voter turnout is expected to be as high as 80 percent. The African National Congress (ANC) is poised for its fourth straight victory with leader Jacob Zuma likely to take the reigns as president.

THE AMERICAS:

Colombian paramilitary leader Diego Fernando Murillo Bejarano was sentenced to 31 years in Manhattan Federal Court today. Bejerano was convicted of smuggling drugs to the United States, in his role as inspector general of the United Self-Defense Forces of Colombia (AUC)

ASIA:

In Sri Lanka, thousands of civilians remained trapped in the territory held by the Liberation Tigers of Tamil Elam. Thousands have been killed or wounded since the country’s army launched their operation against the rebel group earlier this month.

Photo courtesy of The New York Times. During Iranian President Ahmadinejad’s speech at the Durban II “anti-Racism” conference in Geneva, Switzwerland, 23 out of 27 European delegates walk out in protest.

On this Monday, April 20, 2009, the DOW is down 277.34, the NASDAQ down 61.04, and the S&P down 34.64.

THE STATES:

President Barack Obama held his first cabinet meeting today, proposing new spending cuts that amount to $100 million. Though current budget request amount to 3.6 trillion, the government is looking for more symbolic ways to rein in wasteful spending, such as converting judicial forfeiture notices to newspapers to digitial.

The President will also visit CIA headquarters later today.

EUROPE:

In Geneva, Switzerland, 23 of the 27 delegates from European countries walked out of the Durban II Conference on “Racism.” The walk-out occurred during a speech by Iranian President Mahmoud Ahmedinejad in which he said that the United States and Europe helped displace an entire nation in order to “establish a totally racist government in occupied Palestine.” For his words, the Iranian leader was also booed and called a “racist” by protesters. UN Secretary General Ban-Kai Moon criticized Ahmadinejad for using his platform “to accuse, divide and even incite.”

MIDDLE EAST:

In Jerusalem, Israeli Prime Minister Benjamin Netanyahu was at Yad Vashem for the commencement of the annual Holocaust Remembrance Day. Netanyahu criticized Swiss President Hans-Rudolf Merz who met with Ahmedinejad earlier in the day and praised “important countries” like the United States and Canada for their boycott. He went on to say that “we will not let the Holocaust deniers perpetrate another holocaust on the Jewish people.” This year’s ceremony honors the 1.5 million children who were killed in The Nazi Holocaust.

In Sharia dominated Iraq, a Sunni Eyad al-Samarrai and al-Maliki won the speakership in the nation’s parliament .

AFPAK:

In Northwest Pakistan, U.S. missiles demolished a Taliban compound. In recent months, the brutal group has increased their power in the region. In an interview with CNN’s Fareed Zakaria, Afghanistan President Hamid Karzai insists there are no compounds in his country.

THE AMERICAS:

Rafael Cedeno Gonzalez, the regional head of “La Familia” and 43 of its members were arrested on Saturday, on the very same weekend a deadly shooting occured when gunmen attacked a prison convoy killing 8 police officers.

AFRICA:

Somali Pirates have released a Togo flagged shipped siezed a week ago. It is reported that they recieved $100,000 ransom for its release.

ASIA:

The Sri Lankan military penetrated the safe haven of the Tamil Tiger separist group. When as much as 30,000 civilians tried to feel what was supposed to be a “no fire zone” dozens were killed by Tamil suicide bombers. The Tamil fight with the government has been occuring for 25 years, killing 75,000 in the cross-fire.

Photo courtesy of The AP. Iranian President Mahmoud Ahmadinejad tours a newly inaugurated uranium plant.

On this Thursday, April 9, 2009, the DOW is up 226.52, the NASDAQ is up 54.95, and the S&P is up 29.03.

THE STATES:

The Obama administration signaled that immigration will be a top priority in his administration, and will begin work on the issue as early as May. President Obama said that reform won’t take precedence over healthcare and energy legislation.

President Obama, who was in a meeting with homeowners earlier today, said the time is right to re-finance, with mortgage rates  at their lowest since the Nixon administration.

MIDDLE EAST:

Today “National Day of Nuclear Technology and Iran’s atomic energy agency has announced that the country now has 7,000 centrifuges. President Mahmoud Ahmadinejad also announced the opening of a new uranium plant that will produce pellets of uranium oxide to fuel the heavy water research reactor.

AFPAK:

In the Swat Valley, the Pakistani government has stalled in signing a deal with the Taliban that would allow them to implement sharia law in the border region. Anti-Taliban activists urging of President Asif Zadari intensified after a woman was savagely beaten outside her home over refusing to marry a Taliban commander.

AFRICA:

The Maersk, a American cargo ship carry food and supplies raided by Somali pirates, is being called to its next port, where its crew members will subsequently fly home. The U.S. Navy vessel, USS Alabama is now negotiating with the pirates to release the Maersk’s captain and single hostage Richard Phillips from a lifeboat the pirates are holding.

EUROPE:

The UK’s chief anti-terrorism officer Robert Quick resigned after being photographed leaving his car on Number 10 Downing Street with documents visibly marked secret. The airing of the documents lead to the urgent arrests of 12 suspects of Pakistani origin. The operation was supposed to be planned in the middle of last night.

ASIA:

A gray and frail Kim Jong-Il appeared before parliament yesterday after months out of the public eye renewing his reign as Chairman of North Korea’s National Defense Commission. The posture follows lastweekends missile launch, and appears to be his signal to the international community that he is firmly in charge of the PRK.

LATIN AMERICA:

And this BBC article on the effects of the Fujimori conviction is a good read for human rights watchers.

The Maersk Alabama, in the horn of Africa was wrestled back from Somali pirates. The ships captain, Richard Phillips, is still a hostage.

On this Wednesday, April 8, 2009 the DOW is up 47.55, the NASDAQ is up 29.05, and the S&P is up 9.61.

THE STATES:

A Congressional Ethics Panel has opened up an inquiry of Rep. Jesse Jackson, Jr.’s (D-Il) involvement in former Gov. Rod Blagoevich’s alleged auction of President Obama’s former Senate seat. Jackson has admitted that he was “candidate A,” and it alleged that his representative was scheduled to meet with Blagoevich’s brother, Rob, in a pay-to-play scheme that involved the raising of campaign funds. The seat eventually went to former Illinois Attorney Roland Burris, a politician with his own ethics issues.

Former Alaskan Senator Ted Steven’s tossed conviction is still having wide-rage implication for the Justice Department. Today Attorney General Eric Holder appointed Mary Patrice Brown as new leader of the Office of Professional Responsibility.  Brown is formerly the head of the criminal division of the U.S. Attorney’s Office in the District of Columbia.

In homeland security, experts are pointing to China and Russia for alleged infiltration on the U.S.’s electrical power grid.

AFRICA:

After Somali pirates raided an American container ship, the Maersk Alabama, carrying food supplies to the horn of Africa, the crew was able to wrestle back control of the ship, but the captain remains a captive of the pirates failing to obtain his release hoping to exchange a pirate they had previously been holding. The Navy vessel, the USS Bainbridge is reportedly on its way to the region and is set to arrive by tonight.

MIDDLE EAST:

The Obama administration is said to open talks with Iranian officials in order to sway them away from their nuclear program. Meanwhile American journalist Roxana Saberi has been charged with espionage by the Iranian government. According to the Iranian Foreign Ministry, Saberi, who has dual citizenship in the U.S. and Iran, has been in engaging in illegal activities because her press credentials were revoked in 2006.

In what has been an already violent week in Iraq, more violence is plaguing the nascent democracy. In the northwest Baghdad and Shiite Kadhimiya district, a roadside bomb exploded killing 9 and wounding 23 more.

AFPAK:

According to Pakistani Intelligence Services, 4 Taliban militants have been killed by U.S. Predator drone strikes, one day after Foreign Minister Mahmood Qureshi told U.S. envoy Richard Holbrooke that his government opposed them. Despite odds over fighting the Taliban, Pakistani Ambassador Husain Haqqani is asking for $30 billion in developmental aide to help fight al-Qaeda’s influence.

ASIA:

Thousands of North Koreans attended a rally in Pyonyang North Korea to celebrate last weekend’s missile launch. In another effort to appear that he is till in charge, Kim Jong Il will be re-appointed as his country’s Defense Chairman before the Supreme People’s Assembly.

In a rally that reflected more democratic inclinations, 100,000 people in Bangkok, Thailand protested around the residence of Prem Tinsulanonda, chief adviser to Prem Tinsulanonda to King Bhumibol Adulyadej for the military’s and the bureaucracy’s interference in democratic politics. The country has lost more 1 million jobs and the economy has contracted by 4 %.

EUROPE:

In Northwest England British counter-terrorism officials from MI5 and Scotland Yard arrested 11 Pakistani bon British nationals alledgly involved in a terrorism plot.  The raid was executed rapidly, after English media photographed Scotland Yard’s Assistant Commissioner Robert Quick on his way to brief Prime Minister Brown of the impending raids.

LATIN AMERICA:

And Juaez, Mexico is pacified with the arrival of 1000’s of Mexican troops, but the bloodshed is popping up elsewhere.

Photo Courtesy of The New York Times, President Obama makes a surprise trip to Iraq and greets troops at Baghdad’s Camp Victory.

On this Tuesday, April 7, 2009, the DOW is down 186.29, the NASDAQ is down 45.10, and the S&P is down 19.93.

THE STATES:

The U.S. Attorneys who scored an indictment (and conviction) against former Alaska Senator Ted Stevens may face indictment themselves as the Alaskan Judge who presided over the case ordered an investigation into possible prosecutorial misconduct. As expected, Sen. Stevens’s conviction was tossed after a recommendation by Attorney General Eric Holder after it was discovered that key evidence that supported the defense’s case might have been intentional withheld from trial.

Also on the legal front, Vermont became the fourth state to legalize gay marriage and the first via a legislative vote. Both houses in the state were able to override Governor Jim Douglas’s veto against the provision.

AFPAK:

As NATO plans to send 5000 troops to Afghanistan, Australia has committed to deploying an extra 250 troops to bolster Afghan security forces.

MIDDLE EAST:

President Obama made a surprise visit to Baghdad today where he spoke with troops at Camp Victory honoring them for their achievement in deposing Saddam Hussein, reducing violence, and creating stability for democratic elections.

Iraq still isn’t without its security challenges with yesterday’s car bombings in Baghdad being among the most deadliest in recent days. Prime Minister Nouri al-Maliki is blaming the incidents on Ba’athist revivalists, most notably former Saddam Hussein Deputy Izzat Ibrahim al-Douri, a member of the “deck of cards” that U.S. troops distributed throughout the country following the invasion in 2003. al-Douri, in an audio tape broadcasted on al-Jazeera television called on Iraqis to topple their government and restore the Ba’athist regime.

To round out the busy day in Iraqi news, President Bush’s infamous shoe attacker, had his sentence reduced from 3 years to 1 year upon appeal.

In Jerusalem, Israeli police officers shot and killed a motorist after he attempted to run them over nearby where officials were bulldozing the home of a terrorist who went on a deadly rampage with a construction vehicle last July.

In other Israeli news, Foreign Minister Avigdor Lieberman signaled a dead end to the Middle East peace process, noting that until Palestinians rein in violence, there can be no talks.

ASIA:

Emboldened by last weekend’s test missile launch, North Korea is warning the U.N. Security Council not to coerce the economically devastated country. Ambassador Pak Tok-hun says that any punishment will be met with “necessary and strong steps.” The U.S., Japan, and European allies say that Pyongyang is in clear violation of U.N. rules, while China and Russia are more inclined to support the claim that the test was a peaceful satellite launch.

EUROPE:

The death toll from the Earthquake in the Abruzzo region of Italy has reached 250. Rescue workers are now searching the devastated area for survivors. It is estimated that 17,000 people have lost their homes as the Italian government and the international community offer goodwill and aide.

Russian Prime Minister Vladamir Putin, was among leaders to express his condolences to Italian Prime Minister Silvio Berlusconi. Despite stepping down as president last year, Putin has remained visible on the national and international scene. In an anti-corruption report released today, it is reported that Putin makes more than his Presidential successor Dmitry Medvedev.

LATIN AMERICA:

Former Peruvian President Alberto Fujimori has been sentenced to 25 years in prison, at the conclusion of a 15-month trial that resulted in his conviction of human rights abuses during the 1990’s.

In other Latin American news, members of the Congressional Black Caucus are helping to signal a break with past U.S. policy towards Cuba, today meeting with former President Fidel Castro. President Obama is likely to lift travel restrictions for individuals with familial ties to the Island country, and Congress is mulling whether the travel ban should be lifted universally.

AFRICA:

The United States is expected to send over $80 million in food aide to the African continent, on top of the $95 million allocated for fiscal year 2009. The funding is part of the McGovern-Dole School feeding program which claims to have fed over 6 million people over a two year period.

Photo Courtesy of The New York Times. A 6.2 magnitude Earthquake struck the Abruzzo region outside Rome, Italy today, leaving 150 dead.

On This Monday, April 6, 2009, the DOW is down 41.74, NASDAQ down 15.16, and the S&P down 7.02.

THE STATES:

The Pentagon unveiled its 2009 budget, and tension is swirling around the defense community over Defense Secretary Robert Gates’s cutting of conventional weapons and future combat systems (FCS). Gates called for the production of 4 more, but no more F-22 raptors. The budget also scales back the development of missile defense shields and armored vehicles. Gates says the new budget reflects the need to fight today’s irregular wars, Sen. John McCain believes its “a step in the right direction.”

Gates essentially argues:

“Some will say I am too focused on the wars we are in and not enough on future threats,” Gates said at Pentagon press conference this afternoon. “But, it is important to remember that every defense dollar spent to over-insure against a remote or diminishing risk – or, in effect, to ‘run up the score’ in a capability where the United States is already dominant – is a dollar not available to take care of our people, reset the force, win the wars we are in, and improve capabilities in areas where we are underinvested and potentially vulnerable. That is a risk I will not take.”

ASIA:

As the dust settles from Saturday’s North Korean missile launch, President Obama called the launch  a “provocative” act. In an effort to counter the North Korean media’s praise of Kim-Jong-Il’s leadership and efforts to increase patriotic fervor for the act, both the U.S. and South Korea are calling the country’s decision to not to launch a satelite into orbit, a failure.

AFPAK:

In the Punjab Province of Pakistan, a suicide bomber killed 24 worshipers in a Shiite mosque. Attacks in the region have intensified as anti-Shiites from the Sunni majority has forged ties with Al Qaeda and Taliban fighters.

MIDDLE EAST:

Iranian President Mahmous Ahmadinejad, says he welcomes change in Washington, but despite Obama’s gesture to the Persian nation, he expects Washington to move first.

Meanwhile, President Obama is in Turkey today, where he also struck a concilliatory tone in the country’s partliament, telling them in an address broadcast throughout the Middle East that “the United States is not and will never be at war with Islam,” and that he hopes to partner with Turkey, as a mediator between Israel, Syria, and the Palestinians.

It was also a tough day in Iraq, as insurgents killed 37 people by detonating 7 car bombs in Baghdad.

EUROPE:

In the Abruzzo region, home of medieval hill towns outside of Rome, a 6.3 magnitude earthquake killed 150 people, injured 1500 others, also devastasting homes and damging ancient artifacts.

AFRICA:

A study from Stanford University shows that President Bush emergency AIDS plan for Africa has cut the disease’s deathtoll by 1.2 million.

In South Africa, corruption charges were dropped against South African Presidential candidate Jacob Zuma after it was revealed that the case had been tainted by enemies within the legal process. Zuma is favored to win Presidential elections next month.

And Somali pirates are at it again, seizing a record 5 ships in a 24 hour period off the coast of Kenya.

LATIN AMERICA:

Before President Obama leaves for Trinidad and Tobago for a meeting with Latin American leaders, he plans to lift the travel restriction for individuals with familial ties to Cuba. The House and Senate are mulling legislation for unlimited travel for all Americans.

In Chile, one of South America’s most active volcanoes Llana has been perpetually erupting with smoke, lava, and ash prompting evacuations for fear of melts and mudslides.

Video courtesy of Politico.com, President Barack Obama accompanied by French President Nicolas Sarkozy discusses GITMO detainees and the War in Afghanistan.

On this Friday, April 3rd, 2009, the DOW is up 39.51, the NASDAQ up 19.24, and the S&P up 8.12.

THE STATES:

In the upstate city of Binghamton, New York, a gunmen held 41 people hostage at a local center for immigrants. He eventually killed 14 people and several others before turning the gun on himself.

Also on the domestic front, an Iowa court has called the state’s marriage laws banning same-sex couples unconstitutional.

EUROPE:

In Strasbourg, France,  the site of the commencement of this year’s NATO summit French President Nicolas Sarkozy has evidently and rigorously expressed his aforementioned hints at “re-integration.” But re-integration looks more like a leadership role as Sarkozy embraced President Obama as an ally, telling him that he would help the American President “change the world,” step up French efforts in Afghanistan, and even share the load of terror detainees, offering to facilitate a transfer from GITMO to France.

In the Ukraine, thousands protested the Yuschkenko goverment in Kiev in disapproval of their management of the economic downturn. President Victor Yuschenko indicated that he may call for early elections.

MIDDLE EAST:

Also at the NATO summit, German Chancellor Angela Merkel took the opportunity to phone new Israeli Prime Minister Benjamin Netanyahu expressing her support for the new government, but also telling him that their shared aim should be a two state solution. Prime Minister Brown later echoed these sentiments in a phone call with Sarkozy.

AFPAK:

In the Swat Valley of Pakistan, a 17-year old girl was savagely beaten by Taliban authorities for being seen outside with another man. The video which runs for two minutes with the girl screaming for clemency. The video has gone viral throughout the region and the world, in the hope that they will intimidate the population and discourage and undermine coalition efforts to defeat the insurgency.

ASIA:

With North Korea scheduled to launch a missile as early as Saturday, special envoy Stephen Bosworth is indicating that he is wants to let the dust-settle and prepare for 6-party talks with the economically devastated rogue nation.

AFRICA:

Newly appointed  special U.S. envoy to the Sudan, J. Scott Gration made his first visit to the country yesterday. Today he spoke with opposition leader Hassan Turabi and is expected to meet with other representatives to “look, listen, and learn” about the situation on the ground. It is not known whether he will speak with President Omar al-Bashir. Bashir has a warrant for his arrest by the ICC for human rights abuses in Darfur.

LATIN AMERICA:

Former Venezuelan Defense Minister and Chavez critic Raúl Baduel was arrested on Thursday for corruption charges. This s the second high profile arrest made by the Chavez administration of a dissident. Baduel’s lawyer say that charges are unfounded. Since taking office Chavez has taken control of all branches of government and the lucrative oil industry.

Photo courtesy of the Associated Press. World leaders pose for a group photo at the conclusion of this year’s G-20 summit.

On this Thursday, April 2, 2009, the DOW is up 216.48, the NASDAQ up 51.03, and the S&P up 23.30.

THE STATES:

Impeached Illinois Governor Rod Blagoevich has finally been indicted on federal corruption charges months after his arrest and ousting from the governor’s mansion. Along with his brother and two businessmen, Blagoevich is accused of a wide range of charges including scheming to sell President Barack Obama’s former Senate seat and corruption involving the states billions in pension funds.

The House passed a bill that would allow the FDA to regulate the sale of tobacco on grounds of product safety. Phillip Morris USA backs the bill believing that it allows them to sell in a more stable framework, but competitors are convinced that the regulation would allow Morris to monopolize the industry because they would be restricted in making new products.

EUROPE:

On the final day of the G-20 summit, Prime Minister Gordon Brown announced that the nations represented at the conference were able to come to an agreement to secure $1.1 trillion in loans to finance the developing world. The nations also agreed on a blue print for economic recovery with strict regulations on hedge funds, rating agencies, and tax havens.

The G-20 meetings precedes the beginning of a NATO summit that will among other things highlight the war in Afghanistan,  expected to take place in Strasbourg, France on Friday, where police have already clashed with 500 protesters.

MIDDLE EAST:

An Israeli boy was killed and another was injured by a Palestinian wielding an axe and knife in the southern town of Bat Ayin.

Also in Israel, Foreign Minister Avigdor Lieberman was questioned by police for suspicions of bribery, laundering and breach of trust. Lieberman says the charges are politically motivated.

AFPAK:

A report from the former Holbrooke chaired Asia Society urges the Obama Administration to focus on Pakistan where Al Qaeda training camps and safe havens are feeding attacks in the region. According to the report, the Pakistani military maintains close ties to Al Qaeda to wield its foreign policy against India.

General David Petreaus believes that stabilizing the region is going to be a tough balancing act.

ASIA:

One American defense official familiar with North Korea’s military preparations believes that rogue nation could launch a test missile as early as Saturday. If the missile is deployed successfully, experts believe that it will put to rest any doubts of President Kim Jong-Il’s power in the economically devastated north. It also won’t likely result in more strict U.N. sanctions.

AFRICA:

The Deputy Chairman of Sudan’s electoral commission, Abdullah Ahmed Abdullah, said that elections will be delayed until 2010, one year later than expected. A 2005 peace agreement with the South stipulated that elections were to be held in 2009. Rebels groups are exprected to field a candidate against now President Omar al-Bashir who is under indictment from the International Criminal Court.

LATIN AMERICA:

The #2 official in the Juarez Cartel, Vicente Carrillo Leyva, was captured by Mexican police today. There was a $2 million reward for Mr. Leyva’s capture, in what was the third major arrest in recent weeks. The Mexican military recently deployed 7,000 troops to the blood-stained northern city.

Photo courtesy of The Wall Street Journal. While in London for the G-20 summit, President Obama met with Queen Elizabeth and Prince Philip at Buckingham Palace.

On this Wedesday, April 1, 2009, the DOW was up 152.68, the NASDAQ up 23.01, and the S&P up 13.20.

THE STATES:

As my colleague Frank Gannon noted below, the U.S. Department of Justice has decided to scrap the case and motion to dismiss the conviction of former Alaskan Senator Ted Stevens (R) amidst revelations of prosecutorial misconduct. Stevens was convicted by a federal jury and subsequently lost his bid for re-election on charges that he lied on a Senate disclosure about receiving $250,000 worth of gifts.

Tim Geithner also opened eyes today, telling CBS that ousting bank CEOs was also on the table.

EUROPE:

In London, President Barack Obama was welcomed by Queen Elizabeth and Prince Phillip at Buckingham Palace in an aside to the G-20 meetings. Also today, President Obama held a joint press conference with British Prime Minister Gordon Brown, predicting that there will be consensus at the conclusion of the summit.

Mr. Obama also set the “re-se button”again in Russo-American relations, meeting Russian President Dimitry Medvedev at the American Ambassador’s London residence. The two met for 70 minutes and discussed missile defense, and working together on reining in Iran’s nuclear ambitions and bringing an end to the war in Afghanistan. Afterward, they appeared side-by side for a press conference telling news sources that the world will see “new progress” in the relationship.

ASIA:

Following his meeting with Medvedev, Obama spoke with Chinese President Jintao before today’s economic summit. Jintao extended an invitation to China later this year, and Obama accepted, both hoping that the two countries can work closely on solving the global economic crisis. Secretary of State Hillary Clinton and Treasury Secretary Tim Geithner will soon be heading intensive talks with Chinese leaders on political and economic issues.

MIDDLE EAST:

On his first day on the job, Israeli Foreign Minister Avigdor Lieberman made some news on the Middle East peace process by indicating that Israel won’t return to negotiations until after provisions of the 2003 roadmap are met, which in part stipulates that Palestinians have to reject violence before any negotiations over statehood, effectively nullifying the results of the 2007 Annapolis summit.

AFPAK:

In testimony before the Senate Armed Services Committee, Centcom Commander David Petraeus told Senators that he is awaiting a final decision from President Obama this fall to deploy 10,000 additional troops next year. As of now, joint forces are falling below the 20 troop per 1,000 people requirement as prescribed by the U.S. Army-Marine Counter-Insurgency Manual. Petraeus’s lobbying comes as 5 suicide bombers killed 13 in a government office in Kandahar.

AFRICA:

The Vatican’s presence was also felt at the G-20. In a letter to U.K. Prime Minister Gordon Brown, Pope Benedict XVI expressed his disappointment in the lack of African representation at the summit, telling Brown that “This situation must prompt a profound reflection among the summit participants, since those whose voice has least force in the political scene are precisely those who suffer most from the harmful effects of a crisis for which they do not bear responsibility”

LATIN AMERICA:

With Obama and other leaders stealing headlines at the G-20, the non-aligned were also starving for attention. Which is why Venezuelan President Hugo Chavez traveled to Iran and met with President Mahmoud Ahmadinejad today. Chavez said that he is willing to give President Obama some time, but said he doesn’t have much hope and still believes he was President of an “empire.”

Photo courtesy of the Jerusalem Post, Benjamin Netanyahu was sworn in as Israel’s Prime Minister today.

On this Tuesday, March 31, 2009 the DOW was up 86.90, the NASDAQ up 26.79, and S&P up 10.34.

THE STATES:

Though General Motor’s new CEO Frederick Henderson is bent on restructuring the struggling company out of court, he believes that bankruptcy is more probable. The Obama administration rejected a business plan  including $17.4 billion loan that would have helped the company avert bankruptcy. Frederickson now has 60 days to come with a new plan.

The Obama administration is reversing the Bush adminstration’s policy of refusing a seat on the United Nation’s Human Rights Council. The former administration’s policy was based on their objection of undue influence of repressive states, but Secretary of State Hillary Clinton said that “Human rights are an essential element of American global foreign policy.”

MIDDLE EAST:

In Jerusalem, Likud leader Benjamin Netanyahu was sworn in as Israeli’s new Prime Minister. In a speech before the Knesset, Netanyahu introduced his cabinet and warned against the looming Iranian nuclear threat. He signaled that peace was achievable with the Palestinians, if their leadership is willing to cooperate.

In Iraq, though violence has precipitously subsided, jihadists and Ba’athist militants seek to re-ignite an insurgency in course of a series well placed road-side bombs killing dozens of Iraqis. It’s likely that an insurgency won’t match previous levels as security and the government’s legitimacy have improved.

AFPAK:

After yesterday’s massacre at a police training academy Western Pakistan, the leader of the country’s Taliban Baitullah Mehsud claimed credit for the incident and said that they were in retaliation to U.S. preadator drone strikes. He also said that an attack against Washington was imminent, one that would “amaze the world.”

In other Afpak developments, Iran’s Deputy Foreign Minister Mohammad Mehdi Akhoundzadeh told a Hague conference that Teheran will help fight Afghanistan’s opium trade and assist in reconstruction efforts.

ASIA:

Kaing Khek Lev, who ran the Khmer Rouge’s most famous torture center more than 30 years ago in Cambodia, has accepted responsibility for crimes that lead to 16, 000 deaths of men, women, and childten or one-fifth of the country’s population.

AFRICA:

300 Africa migrants are feared drowned off the coast of Lybia today after a boat on course to Europe capsized. There has been a surge of illegal migrants westward because the continent has been struggling with poverty, disease, and famine.

EUROPE:

In London, French President Nicolas Sarkozy is threatening to walk away from the G-20 Summit if no progress is made on global financial regulations. This comes on the heels of a NATO summit Friday, where France is expected to announce it re-integration into the military structure of the Western security pact.

Obama is also likely to use the timing of his Europe trip to pursue an arms control treaty with Russia.

LATIN AMERICA:

Also in London, Mexican President Felipe Calderon is willing to break his country’s 10 year long precedent of taking IMF loans and take advantage of the lender’s new $100 billion loan program, as he appears to be ready to take $30 to $40 billion to deal with the country’s economic woes. In 2000, Mexico wiped all IMF debt off its books ahead of schedule with a one-lump $3 billion payment.

On this Monday March 30, 2009 the DOW was down 254.16, the NADSAQ down 43.40, and the S&P down 28.41.

THE STATES:

The Obama administration has sacked Richard Wagoner, CEO of the ailing automaker GM.  The administration plans to re-organize the company along with Chrysler by first purging their respective balances through bankruptcy filings. The plan aims to re-work labor contracts and re-structure debts to creditors.

MIDDLE EAST:

Prime Minister-designate Benjamin Netanyahu has named Yuval Steinitz as his finance minister. Israel watchers expexted Netanyahu to take the post himself after a successful tenure from 2003-2005, but has instead chose a newcomer and loyalist in Steinitz who will likely implement Netanyahu’s free market initiatives.

AFPAK:

In Lahore, Pakistan, Taliban fighters seized a police academy. Pakistani forces were able to retake the complex, but not before the fighters killed 12 and wounded dozens more by gunfire and a series of suicide bombings.

Meanwhile in Kandahar, Afghanistan a suicide bomber exploded himself in front of a government building killing 5 Afghan Police Officers and wounding 8 others.

ASIA:

The U.S., South Korea, and Japan are taking cohesive measures ahead of North Korea’s expected missile test. Pyongyang claims the test will just be a satelite launch.

In Sino-Occidental relations in cyberspace, Chinese officials are denying that they are apart of an elaborate scheme to infilitrate government offices around the globe.

And.. after a 6 week ban, China will re-open Tibet for tourism.

EUROPE:

German Chancellor Angela Merkel remains unwavering for her opposition to an Obama style stimulus package, but wants to work with President Obama on points of “commonality.” President Obama is scheduled to visit Europe for the G20 summit this week.

In what appears to be a politically motivated assassination, Chechen general and foe of Kremlin backed Chechen President Ramzan Kadryov was shot to death in a Dubai apartment.

AFRICA:

At the Arab League Summit in Doha, Qatar, despite some divisive,  flambuoyant and downright bizarre behavior by Lybian dictator Muammar Gaddafi, the Arab leaders united behind Sudanese President Omar al-Bashir. President Bashir is accused of orchestrating mass genocide and rape in Darfur, and is a fugitive of a an outstanding warrant from the International Criminal Court (ICC).

LATIN AMERICA:

And finally, the New York Times has this interesting piece on the complexities of Mexico’s fight against drug cartels.

Photo courtesy of The New York Times. President Obama pictured with Defense Secretary Robert Gates and Secretary of State Hillary Clinton announces a new ‘Afpak’ strategy.

On this Friday, March 27, 2009 the DOW was down 148.38 , the NASDAQ down 41.80, and the S&P down 16.92 .

THE STATES:

President Obama is going to hold a forum today with Bank CEOs to stress unity in this time of economic crisis, and to tell them that he won’t tolerate members of the industry passing losses to other individuals.

President Obama also unveiled a new Afpak policy which entails — among other measures – a surge of 17,000 troops over the summer, 4,000 additional military advisers in the fall, and $1.5 billion in aid to Pakistan. The hope is to secure the population away from radical elements in society, and build an alternative, viable, and legitimate society invulnerable to insurgent attacks.

AFPAK:

Meanwhile in Northwest Pakistan a suicide bomber killed dozens in a crowded mosque. The region where the attacks took place has been patrolled by Pakistan security forces to protect an American supply route through the Khyber pass into Afghanistan.

MIDDLE EAST:

Turkey’s President Tayyib Erdogan is signaling reapproachment between with Israel, telling news sources that he willing to recommence mediation between Israel and Syria.

EUROPE:

In Berlin,   the IAEA (The International Atomic Energy Agency) has failed to appoint a new leader as delegates were deadlocked between the Japanese Yukikya Amana and the South African Abdul Minty. The board’s chairwoman, Algerian Ambassador Taous Feoukhi has called on the 146 member states to resubmit nominations.

In the royal watch, Great Britain is signaling reform of 300 year old laws that bar Catholics from marrying into the monarchy.

ASIA:

As North Korea readies itself for a test missile launch, the Japanese military is preparing to intercept any dangerous debris that may result from the event. Secretary of State Hillary Clinton says that the launch would deal a blow to the six-party talks over North Korea’s nuclear program.

AFRICA:

U.S. Intelligence Officials are reporting that in order to stop military aid to the terror group Hamas, Israeli warplanes attacked a convoy of trucks in January from Sudan transporting arms into Gaza. Israeli officials wouldn’t confirm or deny the report.

LATIN AMERICA:

Mexican President Felipe Calderon is asking for billions of dollars from the United States to help fight its war on drugs. The request comes in light of Hillary Clinton re-assuring Mexicans that America was willing to take its share of responsibility for Mexico’s problems and stand in solidarity with their President Felipe Calderón. Secretary Clinton is expressing her desire for an assault weapons ban in the United States, but her calls for shared responsbility might be perceptively undermined by President Obama’s pick for Mexican Ambassador, Carlos Pascual, an expert in ‘failed states.’

Photo courtesy of The Wall Street Journal. IAEA candidates Yukiya Amano (left) and Abdul Minty (right) are deadlocked in a close race.

On this Thursday, March 26 the DOW closed up 174.74 points, the NASDAQ up 58.05, and the S&P up 18.98 .

THE STATES:

The Senate Budget Committee is now debating amendments for next years budget. Senate Democrats are proposing a plan that calls for narrower deficits than proposed by the White House. Differences within the Democratic party are also emerging on hot button issues such as healthcare and the environment.

The debate is back dropped by an increasingly contracting national economy. According to government data, U.S. corporate profits have shrunk by $120 billion in the fourth quarter, and jobless claims expanded by 625,000 last week.

MIDDLE EAST:

As the United States commences on its costly withdrawal from Iraq, insurgents view this as an opportunity to expose the vulnerabilities of the Iraqi government. Recently, Iraq has experienced a series of strikes, including a car bomb today killing 16 in a market in northern Baghdad.

The International Atomic Energy Agency (IAEA) is apparently split on its choice for Mohammad El-Baradei’s successor. The U.S. and its allies support the Japanese Yukiya Amano, while non-aligned states support the South African abdul Minty According to this Wall Street Journal article, Iran is likely to exploit this riff to gain more support for its nuclear program.

AFPAK:

The Christian Science Monitor is reporting that the Obama administration is overhauling the Afghanistan operation with similar tactics that saved Iraq. The strategy is planked with not a only a troop surge, but with the emphasis on securing populations and establishing rule of law and good government as a deterrent to the Taliban who have used and brutalized the population to stage terror attacks, cultivate and control a lucrative opium trade, and exercise their base of political power.

But with the intensive use of newly introduced counterinsurgency tactics, the administration is continuing its use of predator drone attacks against militants on the Afpak border.

President Obama telephoned the Afghan President (Hamid Karzai) to share his new policy.

ASIA:

U.S. , Japanese, and South Korean envoys are expected to have urgent talks about the North Korean nuclear program. Pyongyang has moved a missile to a launch site in the eastern part of the country for testing.

Elsewhere on the Asian military front, China is telling Washington to tone down the rhetoric about the country’s ambitions. An annual report from the Pentagon suggests that China is insulating its offshore areas in order to improve its nuclear, space, and cyber warfare technology.

AFRICA:

Somalian pirates are at it again, siezing a 23,000 ton Norwegian chemical tanker within the same 24 hour period they siezed a Greek owned chemical tanker.

Sudanese President Omar al-Bashir is also continuing his persistence in defying a warrant from the International Criminal Court. A day after visiting ally Hosni Mubarak in Egypt, he was welcomed warmly Sirtre, east of Tripoli, home to Lybia’s dictator Muammar Ghadhafi.

EUROPE:

The United Kingdom will start investigating allegations of overseas torture of terror suspects. The investigation stems from charges that suspected terrorist Binyam Mohamed, a British citizen captured in Pakistan, was brought to Guantanamo Bay, Cuba and tortured by American interrogators. Mohamed claims that the interrogators were supplied questions by British intelligence officials.

LATIN AMERICA:

The Word Bank’s private arm, the International Financial group, will lend $450 to Colombia, Peru, and Ecuador for short term financing as the developing Latin American nations continue to deal with the global financial crisis.

Ecuador’s response to the crisis has been notably protectionist, imposing tariffs on imports in order subsidize domestic markets.

Photo courtesy of the Washington Post.

On this Wednesday, February 25, 2009 the DOW was up almost 9o points, the NASDAQ up 12 and the S&P down 2.

THE STATES:

Treasury Secretary Tim Geithner has proposed a joint venture with the FIDC to overhaul current financial rules that would allow the two to manage financial companies whose failure could affect the broader economy. Admistration officials believe the involvement of the FDIC is crucial because it is less prone to politics than the Treasury Department and it has experience handling failed companies.

In other fiscal news, The House of Representatives has proposed a budget that forecasts a budget defecit of 3.5% of GDP equaling 533 billion by 2014. The House bill doesn’t include any provisions for cap and trade or a overhaul of the healthcare system, but includes President Obama’s request for $82 billion for Afghanistan and Iraq funding.

LATIN AMERICA:

In her trip to Mexico today, Secretary of State Hillary Clinton accepted responsibility for U.S.’s role in Mexico’s drug war, stating that the U.S. has failed to curb drug use, narcotic shipments, and the flow of ammunition into Mexico.

THE MIDDLE EAST:

Incoming Israel Prime Minister Benjamin Netanyahu maybe forced to balance his hand in exchange for a more stable coalition that now includes Labor party MKs and and their leader Defense Minister Ehud Barak. Today, Netanyahu signaled that he is willing to negotiate with the Palestinian authority despite qualms about Palestinian nationalism.

Despite past budget cries against the Iraq war, the Government Accountability Office (GAO) is reporting that the cost of withdrawal will be ‘massive’ in the short term, as the price of repairing equipment and the process of base closures, as well as security for Embassy officials and civilians will be significant.

AFPAK:

At the White House, President Obama discussed with NATO chief Secretary-General Jaap de Hoop Scheffer how to effectively employ NATO forces to fight the Taliban and al-Qaeda. The President is expected to unveil a new Afghan strategy on Friday.

In the Pakistan western tribal region of Waziristan, 7 militants were killed in a U.S. predator drone strike.

EUROPE:

E.U President and Czech Republic Prime Minister Mirek Topolanek blasted President Obama’s economic plan as “a road to hell,” convinced that there were to many measures in the near trillion dollar stimulus package that amounted to protectionism.

France also has its share of outrage when it comes to executive pay, as Thierry Morin, the head of the failing auto parts company, Valeo, was given a $4.1 million severance package amidst business and bank bailouts, and a growing unemployment rate amounting to over 2 million workers.

ASIA:

Two Current TV journalists captured last week by North Korwan authorities as they were crossing the border from China will be detained in Pyongyang. According to a Seoul newspaper the two will be interrogated as spies. Analysts say they will also be used as bargaining chips in future negotiations with the United States and allies over the country’s nuclear program.

According to a U.S. counter proliferation official a standoff could be imminent with North Korea positioning a missile on a launch pad in the eastern part of the country.

AFRICA:

Despite an outstanding warrant from the International Criminal Court for war crimes in Darfur, Sudanese President Omar al-Bashir continues his international travel and met today with Egyptian President Hosni Mubarak. Bashir has close ties to Cairo and is likely building up support for his defense. President Mubarak, himself, has called on the U.N. Security Council to suspend the warrant.

On this Tuesday, March 24, 2009, the DOW closed down 125 points, the NASDAQ down 40, and the S&P down 10.

THE STATES:

Treasury Secretary Tim Geithner and Fed Chairman Ben Bernanke were grilled before the House Financial Services Committee this morning over the continuing brouhaha surrounding AIG. Both suggested that the government needed regulatory authority to unwind the the wide scope of like financial institutions through protectorship and conservatorship, and the ability to protect policy holders.

In other economic news, Transportation Secretary Ray LaHood is proposing a plan for Mexican trucks to traverse U.S. freeways in order to rescind tariffs on $2.4 billion of U.S. projects that resulted from a part of the omnibus spending bill that came into conflict with the NAFTA treaty.

In the highest profile trial since the murder of Richard Speck, accused sleeper agent Ali Saleh Kahlah al-Marri was in a Peoria, Illinois court today to plead not guilty to providing financial aid to al-Qaeda. al-Marri has been held in a Navy brig in Charleston, South Carolina before the Obama administration transferred him to a civilian court. al-Marri allegedly met with Osama bin-Laden, and arrived in the United States on September 10, 2001 to plan followup attacks after 9/11.

MIDDLE EAST:

In Israel, Labor Party leader Ehud Barak is moving closer to a coalition deal with Prime Minister-designate Benjamin Netanyahu to become part of the Likud lead coalition government. According to Barak, the strategy is to prevent Netanyahu from forming a narrow right-wing government: “We will act as an opposing force that will prevent the creation of a narrow right-wing government, but rather a proper government that cares for the state of Israel.”

In Iraq, Turkish President Abdullah Gul visited Iraq yesterday, marking the first time a Turkish head of state has visited the fledgling nation in 30 years, and a sign that Iraq is becoming normalized in the international community. The country, however, still is plagued with the some residual insurgent violence with a commitment to de-legitimatize democratic governance, as a suicide bomber killed 25 and wounded 44 in the Kurdish northeast Diyala province.

AFPAK:

In Afghanistan, al-Qaeda top leader Maulawi Hassan was killed by NATO forces in the southern Helman province. Such military efforts come on the heels of an Obama administration decision to surge civilian foreign service assignments to assist on political and reconstruction efforts. The administration also plans to send more than $1.5 billion in civilian aid to Pakistan in hope they can influence the military to cooperate in the fight against al-Qaeda strongholds in the Afpak border region.

EUROPE:

Russian Prime Minister Vladamir is bitter about a $3.4 billion dollar gas deal reached between the E.U. and the Ukraine in Brussels, claiming that it excludes Russia from a deal of which it would be the main supplier. Russia supplies 80% of all gas through Ukrainian pipelines.

In Hungary, home of one of Central Europe’s worst hit countries by the global economic crisis, Premier Ferenc Gyurcsány has decided to step down stressing that he “was unable to address the pending structural issues of the budget.”

In France, concerns over the effects of nuclear testing has prompted the government to compensate victims affected in the South Pacific and the Sahara. Ending in 1996, tests have allegedly inflicted a portion of the 150,000 military and civilian staff at the testing sites.

ASIA:

China has proposed a new currency to replace the dollar as the new international standard, a move that signifies their dissatisfaction with America’s role in the global economy. The move comes on the heels of the G-20 summit, but is expected to encounter enormous hurdles as central banks around the world hold more U.S. dollars than any other foreign denomination.

AFRICA:

The South African Peace Conference has been put on hold after the Dalai Lama’s visa requests have been rejected by the South African government. Authorities tell news sources that they don’t want the Tibet issues to overshadow the 2010 World Cup, but Chinese Embassy officials told local newspapers that they asked their host country refuse the visa. South African trade with China compromises 20% of total trade.

LATIN AMERICA:

In Peru, former President Alberto Fujimori’s human rights trial is near its end. He is accused of state-sponsored killing and kidnapping. If convicted he could face up to 30 years in prison.

In his address to a joint-session of Congress today, U.K. Prime Minister Gordon Brown said that the Queen will bestow the honorary title of Knighthood to Massachusetts Senator Ted Kennedy for his efforts in bringing peace to Northern Ireland in the 1990’s. The main reason for PM Brown’s appearance was to convince Congress against temptations of protectionist measures, and to urge for a global solution to the economic crisis, including: a worldwide reduction in interest rates, the elimination of offshore tax havens, shadow banks and a commitment to battle global climate change.

In his testimony before the House Finance Committee, Treasury Secretary Tim Geithner unveiled a plan aimed at helping 9 million families restructure their home mortgages. According to Geithner, interest payments will be lowered to at least 2% so as to reduce the borrowers payment to 31% of their monthly income. The modified payments will be put in place for 5 years after which they will subsequently be raised by 1% yearly and then capped for the life of the loan.

The Obama Adminisration is also revealing its support for union organizing. In a videotaped address to AFL-CIO leaders in Miami Tuesday, President Obama told them that “We will pass the Employee Free Choice Act,” a controversial bill that will eliminate secret ballots in employees’ choice for union formation.

Also on Tuesday, Los Angeles’s first Latino mayor, Antonio Villaraigosa was elected to a second term.

MIDDLE EAST/AFPAK:

After three NATO soldiers were killed and two others were wounded when a bomb exploded in north of Kandahar, Tuesday, a blast hit the the U.S. main base in Bagram today wounding several people. The explosions occured in lieu of efforts of coalition forces to establish outposts closer to insurgent strongholds. In 2009, 30 Americans have already been killed, compared with 155 in all of 2008. However, the Obama administration is seeking to pre-empt a Taliban -under less pressure from the Pakistani military – by targeting its leadership with unmanned aicraft.

Also in Afghanistan, the country’s election commission rejected President Hamid Karzai’s bid to hold snap elections this month, instead allowing his term to end in April and elections to be held in August when security is projected to improve.

Elsewhere in the region, Pakistani officials have arrested the perpetrators involved in yesterday’s attack against the Sri Lankan cricket team.

In Israel, despite drawing intense criticism for pledging $900 million in aid to Gaza, calling the demolition of illegal housing “unhelpful,” and her goal to open their borders, Secretary of State Hillary Clinton said the United States support for Israel is “unshakeable.”

LATIN AMERICA:

The northern border town of Ciudad Juarez, Mexico is still having its share of problems today, as a deadly riot broke out killing 17 people in a maximum security prison that holds some of the city’s most violent drug offenders.

In Venezuela, President Hugo Chavez has told his supporters to stand up against the “oligarch media,” a statement that comes on the heels of a plan to have governors and mayors draw up a map of the “media war.”  Chavez also said that the government would recieve more support if it weren’t for the “lies, manipulation and the exaggeration” promulgated by opposition media.

AFRICA:

At the Hague, The International Criminal Court has issued an arrest warrant for Sudanese President Omar al-Bashir for the mass murder of thousands of Sudanese civilians, marking the first time that a sitting head of state has been accused of war crimes. President al-Bashir has been officially charged with 7 counts of crimes against humanity, but genocide charges have been put on hold until further evidence comes forward.

On the west coast of Africa Tuesday, former Guinea Bissau parliamentary speaker Raimundo Pereira was sworn in as President one day after the former President was gunned down in front of his home.

ASIA:

The markets in Hong Kong and Shanghai surged today after hoped that the Chinese government would provide stimulus.

On the Korean peninsula, the North says that it is prepared for war with the South, but the South and its U.S. allies remain untimidated by the limited prospect of a North Korean missile launch.

U.S. Special envoy Stephen Bosworth is also in Beijing today to urge six party talks against China’s neighbors in Pyongyang.

EUROPE:

In Brussels, Western allies in NATO also want to strike a diplomatic cord, seeking to re-open ties with Moscow at the ambassodorial level after the falling out caused by dismay over Russia’s invasion of neighboring Georgia last summer.

U.S. House Majority Leader Steny Hoyer doesn’t want to have any of President Obama’s potential reform on earmarks, signaling some intra-party tension in pointing out then Senator Obama’s proclivity to serve his own state: “The president, of course, had earmarks, as you’ll recall, not last year but the year before,” Hoyer said.

Federal Reserve Chairman Ben Bernanke also had an exchange with lawmakers, expressing anger but defense of the government’s bailout of behemoth insurer AIG.

Meanwhile,  Treasury Secretary Tim Geithner has been dispatched to hedge the administration’s ambitious stimulus package, in part, by advocating for tax increases on the gains of Wall Street fund managers and the top two individual tax brackets.

On the national security front, Justice Department lawyers are trying to learn who ordered the destruction of CIA tapes that reveal the interrogations of terror suspects. The American Civil Liberties Union (ACLU) wants the whole agency held in contempt for disobeying Congressional and Court directives.

In what seems to be a broader attempt to change face in relations with the Middle East, Secretary of State Hillary Clinton was in the Egyptian resort town of Sharm el-Shiekh yesterday, telling  UAE Foreign Minister Sheik Abdullah bin Zayed Al Nahyan that a willingness to engage Teheran directly is making the international community stronger: “The worst nightmare for Iran is for the international community to be unified and the U.S. willing to engage.”

Also in the spirit of direct engagement, President Obama reportedly sent a letter to Russian President Dmitry Medvedev offering to stop the development of weapons systems in Poland and the Czech Republic for promises from Moscow to cooperate in multi-party talks to pressure Iran into halting their nuclear program.

MIDDLE EAST/AFPAK:

Secretary Clinton was in Israel today reiterating her stance on a two state solution. During her visit, she said that the administration will soon engage in talks with Syrian President Bashir Assad with the goal of using his influence in the region to provide political cover for negotiations with Iran and Israel’s talks with moderate Palestinians. 

In Islamabad, Pakistan, the Sri Lankan cricket team was attacked by a dozen gunmen who killed 6 police officers and injured 6 of the players. This incident takes place in a country struggling with militant extremism, while the United States is relying on them to help fight the Taliban and al-Qaeda along their border with Afghanistan. A region so ripe with extremism, that according Rep. John Murtha (D-Pa) would take 600,000 troops on the ground to put down violence. Murtha added that he wanted a practical goal for the region, and was uncomfortable with President Obama’s decision to add 17,000 troops, but nonetheless believes the troops will leave soon. Secretary Gates, however, won’t give a timetable. 

LATIN AMERICA:

South of the border, the Mexican government is stepping up efforts to fight their war against the country’s biggest cartels, deploying more than 1,000 police to Ciudad Juarez, the country’s most violent city. Two weeks ago, the city’s police chief resigned amidst a series of police killings. Over 1600 people have died in the city last year, signifying a nation-wide blood bath with no end in sight.

Across the Caribbean, Raul Castro is shaking up the Cuban government, expelling two officials from cabinet posts. Reports from the island country say that Raul is putting his own stamp on the government, but the elder Fidel says that the two officials were simply seduced by “the honey of power.”

ASIA:

More openness in China? Perhaps so. Beijing’s highest court is finally allowing hundreds of families to sue 22 dairy companies for the deaths of 6 children and the ailments of 300,000 more, over allegations that the companies were distributing tainted milk containing the industrial chemical melamine.

Chinese officials also plan to meet U.S. Special Envoy Stephen Bosworth to discuss how to persuade North Korea from abandoning its nuclear program.

EUROPE:

U.K. Prime Minister Gordon Brown met with President Obama today to address the fallout of the global financial crisis. He is also expected to address Congress over fears of U.S.  protectionism. Foreign Secretary Sir Malcom Rifkind already addressed his: ”But within Congress you have a large number of congressmen who don’t have the responsibilities of government, who are under pressure from constituents and they are the people who have to be influenced, if they can be influenced, by Gordon Brown and his address.”