Themes of the Week: The US unveils fresh toxic asset clean-up plan, Mervyn King warns Gordon Brown against further deficit spending, a UK gilt auction fails for the first time in seven years, populist outrage against corporate bonuses spreads across Europe, the FT secures an exclusive interview with President Obama – and President Lula of Brazil blames white, blue-eyed people for the financial crisis.
A brief note on the G20 summit: thanks to our news coverage and ground-breaking Future of Capitalism series, the FT now occupies the high ground. The Obama scoop comes on top of other news-making exclusive interviews with Angela Merkel of Germany, Felipe Calderon of Mexico plus visits and interviews at the FT this week from many other world leaders. Now for the big test of covering the summit.
And if you had not been reading the FT or ft.com over the past seven days, you would have missed…
Introduction: The Federal Reserve introduces quantitative easing to revive the US economy; the House of Representatives passes a punitive law on bankers’ bonuses; Lord Turner calls time on light-touch regulation; Switzerland buckles on banking secrecy; President Obama extends the hand to the Islamic republic of Iran; and an Ivory Coaster takes over the reins at the Pru, the first black CEO in the FTSE.
And if you failed to read or view the FT or ft.com this week, you would have missed the following unique items…
The FT’s deputy editor rounds up the best of the FT and ft.com
The big event was our launch of the Future of Capitalism series. It has got off to a cracking start, underlined by strong web traffic.
Martin Wolf‘s introductory analysis piece on day one was a brilliant tour de force and we also had the perfect day one front page story – an exclusive Ed Luce and Chrystia Freeland interview with Larry Summers in which he stirred up a transatlantic hornet’s nest by calling for a greater co-ordinated global stimulus.
The analysis pages throughout the week were of a very high standard and thought-provoking, so a big thanks to Gillian Tett and Krishna Guha, Chrystia Freeland and John Thornhill, Francesco Guerrera and Richard Milne – and to everyone who contributed ideas/profiles to the “50 most influential people” page. The expanded online, interactive version of the 50 influentials, by Steve Bernard and Jeremy Lemer, was a smart piece of work.
The FT’s deputy editor Martin Dickson rounds up the best of the FT and ft.com
This update has to start with the reporting highlight of the week – Jamil Anderlini’s brave and brilliant account of China’s ancient petitioning system and how it is not working, despite being an important outlet for protest in a one-party state under growing economic pressure. Jamil’s analysis was the result of months of painstaking interviews with petitioners from the provinces who had tried and failed to get redress. The three-part video and interactive graphic that accompanied the story is powerful and in parts very moving. Production plaudits to Du Juan, Ed Cheng, Richard Edgar and Cleve Jones.