A bit on the weekend Camp David Summit

NYTimes:

“Bush to Host World Economic Summit – The NY Times reports late Saturday that
George Bush has agreed to host a summit of world leaders soon to discuss the
global response to the financial crisis. The announcement was made at Camp David
where Mr. Bush is meeting French president Sarkozy and European Commission
President Barroso. Mr. Sarkozy said “we cannot continue along the same lines
because the same problems will trigger the same disasters”. Mr. Barroso said “we
need a new global financial order”. Early December is viewed as the earliest
time the meeting could take place.

From the Beeb:

“President George W Bush has invited world leaders to gather in the US by the end of the year to discuss reform of the global financial system.

The summit would be the first of a series announced after talks between Mr Bush, French President Nicolas Sarkozy and EU Commission chief Manuel Barroso.

But the agenda is unclear and differences are already emerging.

Mr Bush said any plan must not undermine free markets. Mr Sarkozy said “hateful practices” must be abandoned. “

Odd the NYT failed to make note of Bush’s admonition re “the hateful practice” of free market economics.

As I noted last week, I wonder how the US financial community contributors to and supporters of Mr Obama will appreciate being ordered about by a “New Global Financial Order” being administered by Euro-crat free market haters?

Sarkozy and Bush to meet Saturday at Camp David

French President and EU rotating President Sarkozy will meet at Camp David this weekend with US President Bush to discuss a global effort to stabilize the global financial system.

“We are going to have a new Bretton Woods, if you like. We are going to revamp the system,” Sarkozy said.

I had heard mention of this meeting on NPR earlier this week but this is the first outside confirmation that such a meeting would take place. Coming on the heels of Italian leader Berlusconi’s visit Monday, perhaps Trichet’s “intimate” contact with the US fed and tsy’s heads is being trumped at the national leadership level.