Leaders from twenty nations will convene in Washington today and tomorrow to discuss the state of the global economy, and hash-out future efforts to quell an economic crisis that has affected most of the globe. What makes this meeting interesting is the U.S. is on the cusp of changing leaders — a shift that has many global economies looking for clues to what U.S. economic policies may be in store in the near future.

A clear-cut, decisive strategy to sure up global economies could play very well for the markets, but whether that could be accomplished in less than 48 hours of discussion is unlikely: Read the rest of this entry »

President Bush has invited the leaders of 20 countries to attend a financial summit in Washington on November 15 to rehash and discuss the latest financial actions taken by world leaders. “The leaders will review progress being made to address the current financial crisis, advance a common understanding of its causes, and, in order to avoid a repetition, agree on a common set of principles for reform of the regulatory and institutional regimes for the world’s financial sectors,” said White House Press Secretary Dana Perino this morning at her daily press briefing.

When a reporter asked Ms. Perino about the possibility of a “global financial regulation” resulting from the summit, the press secretary responded by saying that the administration understands that every country has, and should be able to develop, separate solutions that will work for each, but should continue to work together in a coordinated approach.

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