Wednesday, February 09, 2011

US Diplomacy Needs To Be More Transparent

The Egypt crises has certainly caused some confusion amongst financial community, media pundits, political conservatives and liberals.  No one seems to know which side of the table to be on and who to support in the crisis.  Wall Street and emerging markets responded to the protest by dropping a few percent immediately and volatility spiked but for what reason?  What interests is the US trying to protect in Egypt and who do we trust? One important lesson from this power struggle crisis seems to be emerging and that is the "lack of transparency" in US foreign policy and support for Egypt.  I don't expect a full disclosure Wikileaks style, but when I hear that Hosni Murbarak is sheltering billions and worth multiple billions of dollars it makes me sick. The US Government seems to be giving a billion dollars a year to whom?  Egypt or Mubarak?  How does it get spent if at all and who receives the check?  How many other countries around the world do we support like this financially?  I would love to see an in-dept study of this because hedge funds who invest around the World will be all over this issue to find the next "smoking gun".   If anyone comes up with a InfoGraph to tell the story of US financial diplomacy please send it to me. 

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