Morning Brief, Monday, March 17
Global Economy ANTONY DICKSON/AFP/Getty Images With help from the U.S. Federal Reserve, Investment bank J.P. Morgan purchased its hobbled competitor, Bear Stearns, for a mere $2 a share. In January 2007, Bear Stearns’s stock traded as high as $172.61. Asian markets took a dive when markets opened Monday, following a quarter-point rate cut by the ...
With help from the U.S. Federal Reserve, Investment bank J.P. Morgan purchased its hobbled competitor, Bear Stearns, for a mere $2 a share. In January 2007, Bear Stearns’s stock traded as high as $172.61.
Former Fed Chairman Alan Greenspan says this financial crisis will be “the most wrenching since the end of the second world war.”
A Chinese offical says 16 people have died in the riots in Tibet, which have spread beyond the province’s capital city of Lhasa. Exile groups put the number as high as 80. The Dalai Lama says Tibetans are facing “cultural genocide.” China says it is acting with restraint. The government has given Tibetan demonstrators until midnight to surrender.
Investigators are looking into an attack on an Islamabad restaurant that wounded four FBI agents.
The final results of France’s municipal elections are bad, but not devastating news for Nicolas Sarkozy.
An ammunitions depot exploded in Albania, killing at least nine people and injuring nearly 300.
U.S. Vice President Dick Cheney made a surprise trip to Iraq, the first stop of his 10-day Middle East tour. Sen. John McCain was in Baghdad yesterday.
More than half of Iraqis are optimistic about the future, according to a new poll, but most Sunnis are still deeply angry.
Iran’s conservatives are claiming victory in Iran’s legislative elections, but the U.S. government says the results are “cooked.”
2008 U.S. Elections
The Democratic primary race is getting ugly.
- Happy St. Patrick’s Day.
- U.S. Secretary of State Condoleezza Rice and Defense Secretary Robert Gates are in Moscow to talk missile defense with Vladimir Putin and President-Elect Dmitry Medvedev.
- German Chancellor Angela Merkel is on a three-day visit to Israel.
- The new parliament convenes in Pakistan.
- Former British PM Tony Blair visits India.
Blake Hounshell is a former managing editor of Foreign Policy.
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