Monday, January 28, 2008

Kennedy to endorse Obama in wake of SC win; IMF warns fiscal crisis could spread, worsen; Kisumu, Kenya, ablaze amid riots...

28 January :: Sen. Edward Kennedy (D-MA) to announce support for candidacy of Sen. Barack Obama (D-IL); sources tell press Sen. Kennedy will make announcement alongside niece, Caroline Kennedy, youngest daughter of assassinated pres. John F. Kennedy, who wrote in Sunday NY TImes that Obama has the capacity to inspire people the way her father did 5 decades ago... Dominique Strauss-Kahn, managing director of the IMF, has warned that the current global fiscal crisis could deepen if more governments to not act to revamp their overall fiscal policy, infuse markets with capital and promote stimulus packages that could bring about fiscal deficits but would loosen the spending potential of consumers and investors; the move is being called an "about-face" for a director and an institution which have promoted fiscal rigor and budget cutting as ways to ensure economic agility; observers now say subprime mortgage crisis could spread to credit cards and other banking services, further tightening available capital, slowing markets across borders, industries... City of Kisumu, Kenya, burns as rioters take to streets in protest against mounting ethnically-driven killings in the region; Kenya has descended into an increasingly indiscernible pattern of tribal and political violence, since the disputed December elections in which opposition leaders allege the sitting government rigged the vote, used violence to suppress opposition, stay in power...

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