Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.

The draft G-20 communiqué is here.  The final communiqué is here.  Looking solely at the section on financial regulation, it’s hard to see too many huge differences.  Regulation of hedge funds, which Obama was said to be resisting, is still there.  However, Obama was also said to be opposed to a greater role for international regulatory bodies, and he appears to have won that round.  The draft section that called for regulators “to supervise cross-border institutions and to complete the establishment of colleges of supervisors for all significant cross-border financial firms” is gone.

What else?  The section on tax havens got beefed up rhetorically with a single sentence: “The era of banking secrecy is over.”  That’s nice.

I haven’t looked at the rest in any detail, but it includes about a trillion dollars in loan pledges and IMF support, but no specific targets for domestic stimulus.  That number could have been higher, and probably should have been higher, but reality being what it is, that’s not bad.

And the big losers in all this?  Protesters.  The street wars were a big deal in Seattle, guys, but with every passing year your schtick just looks more and more pro forma.  Time to give it a rest.

FOLLOW THE MONEY

Corporations and billionaires don’t fund journalism like ours that exists to shake things up. Instead, support from readers allows Mother Jones to call it like it is without fear, favor, or false equivalence.

And right now, a longtime friend of Mother Jones has pledged an incredibly generous gift to inspire—and double—giving from online readers. That's huge! Because you can see that our fall fundraising drive is well behind the $325,000 we need to raise. So if you agree that in-depth, fiercely independent journalism matters right now, please support our work and help us raise the money it takes to keep Mother Jones charging hard. Your gift, and all online donations up to $94,000 total, will be matched and go twice as far—but only until the November 9 deadline.

$400,000 to go: Please help us pick up the pace!

payment methods

FOLLOW THE MONEY

Corporations and billionaires don’t fund journalism like ours that exists to shake things up. Instead, support from readers allows Mother Jones to call it like it is without fear, favor, or false equivalence.

And right now, a longtime friend of Mother Jones has pledged an incredibly generous gift to inspire—and double—giving from online readers. That's huge! Because you can see that our fall fundraising drive is well behind the $325,000 we need to raise. So if you agree that in-depth, fiercely independent journalism matters right now, please support our work and help us raise the money it takes to keep Mother Jones charging hard. Your gift, and all online donations up $94,000 total, will be matched and go twice as far—but only until the November 9 deadline.

$400,000 to go: Please help us pick up the pace!

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate