April 2, 2009 6:55 PM

Here's news: G-20 summit actually achieved something

The leaders of the world's major industrialized nations pledged the first-ever global regulations of hedge funds and private equity firms, big players in global financed never before regulated. They agreed to require banks to set aside more capital in good times to help them function in bad times. And they vowed to crack down on tax havens. In short, they announced the end of an era of unbridled global capitalism.

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