To support the recovery and strengthen the ability of our financial systems to deliver needed credit, we must maintain the momentum of financial repair. Resolving ongoing uncertainty about the transparency of bank balance sheets and the adequacy of bank capital, patticularly in Europe, will help reduce financial market volatility and the cost of borrowing. We should SUppOlt efforts to enhance transparency and increase disclosure by our large financial institutions and to act, where necessary, to strengthen the capital position of our banks. Our ability to growIt's clear that they had a print copy of the letter, scanned it and use optical character recognition (OCR) software to convert it to electronic text. No one ever bothered to go back and read it to correct the inevitable OCR mistakes. They just posted it on the White House website and then ran off. Pathetic.
without the excesses that that put our economies at risk two years ago requires that we accelerate our efforts to bring needed financial refolIDs to completion. In the U.S., both houses of Congress have passed comprehensive financial regulatory refOlID bills. We must reiterate our commitment in Toronto to a common framework for reforms that provide:
...
•more effective ji'Qlllework for winding down large global firms, along with principles for thefillallcial sector to make afair and substantial contribution towards payingfor allY burdens it creates in a way that protects taxpayers, creates a level playing field, and reduces risks to our economies.
In Toronto, I also look forward to working on our action agendas on issues ranging from energy and development, to governance reform of intemational financial institutions.
Together, we designated the G-20 as the premier forum for intemational economic cooperation. It is important that the G-20 demonstrates its continued determination to work collectively to address the renewed challenges facing the global economy. I look fOlward to seeing you in Toronto and reaffhming our unity of purpose and resolve.
Pages
▼
Saturday, June 19, 2010
No Proofreaders at the White House
Normally I'm not a big fan of picking nits, but in this case, I'm surprised at how awful this public letter from President Obama to the G20 is. By the time you click on the link, they may have finally corrected the errors, so let me give you some excerpts from it.
It still there as is. This seems to go well beyond nits. Its just sloppiness.
ReplyDeleteThey've taken it down and replaced it with the PDF from which the OCR-created text came.
ReplyDelete