3-31-09

3-31—09—Nearly 70% of the Pentagon’s 96 largest weapons programs were over budget last year, for a combined total of $296 billion [yes, billion] more than the original estimates... NYT B8
--Give the Obama team credit, too, for replacing most of GM’s pet rock board of directors, which put loyalty to Mr. Wagoner above duty to shareholders while the company imploded. WSJ A21
--[France and Germany] have found common cause ... in a call for much tougher global regulation of financial matters, putting the blame for the crises directly on the “Anglo Saxons”—the US and Britain, whose free-market practices, not widely copied in continently Europe, are viewed by France and Germany as not sufficiently disciplined by the state. NYT A10