“There seems to be no international architecture capable of coping with and preventing global [financial] crises from erupting,” a newly updated report (pdf) from the Congressional Research Service observes.
“The financial space above nations basically is anarchic with no supranational authority with firm oversight, regulatory, and enforcement powers. There are international norms and guidelines, but most are voluntary, and countries are slow to incorporate them into domestic law. As such, the system operates largely on trust and confidence and by hedging financial bets.”
The 109-page CRS report reviews the origins of the current crisis and summarizes its impact in different regions and countries. The report has not been made readily available to the public, but a copy was obtained by Secrecy News. See “The Global Financial Crisis: Analysis and Policy Implications,” April 3, 2009.
The new alignment signals a clear shift in priorities: offices dedicated to clean energy and energy efficiency have been renamed, consolidated, or eliminated, while new divisions elevate hydrocarbons, fusion, and a combined Office of AI & Quantum.
We came out of the longest shutdown in history and we are all worse for it. Who won the shutdown fight? It doesn’t matter – Americans lost. And there is a chance we run it all back again in a few short months.
Promising examples of progress are emerging from the Boston metropolitan area that show the power of partnership between researchers, government officials, practitioners, and community-based organizations.
Americans trade stocks instantly, but spend 13 hours on tax forms. They send cash by text, but wait weeks for IRS responses. The nation’s revenue collector ranks dead last in citizen satisfaction. The problem isn’t just paperwork — it’s how the government builds.