Goldman Sachs cannot argue that the proceeds it received from the AIG rescue did not constitute an indirect bailout any more than can auto parts makers who are saved by Detroit's bailout.
Cars are not longer just big business; companies have to build vehicles, but also be able to create multilateral partnerships which include workers, politicians, civil servants and investors.
The world's politicians remain a pretty mediocre bunch, with few exceptions, which means that the next global crisis cannot be averted without addressing the world's leadership deficit.
The bilateral talks, or G-2, between the U.S. and China have resulted in little substantive progress. This is because there is a continuing, inexplicable failure on the part of the U.S. with other countries to pressure China to curb its currency manipulation.
Canadian politicians have been in capable of ending this primitive practice - the largest killing of marine mammals in the world - even as damage to the country's reputation grows.