The real issue for regulators around the globe is a serious definition of the financial world we want to live in. The current focus nearly exclusively on the banking sector could cause authorities to miss the broader picture.
Re-tweeting is hardly "criminal use of a communication facility;" it's built into the architecture of the website. Elliot Madison was using Twitter exactly as it was designed and intended to be used before he was arrested.
Every generation makes an implicit promise to leave their children a better world than they themselves inherited. In America, we have been fortunate to make good on that promise for almost three hundred years.
That's it, folks -- there ain't no more from the G-20 summit. The blood oaths of November and April to tackle head-on the practices that brought us to the brink of disaster are evidently gone with the wind.
To help the poor of the world, the G-20 shuffled the deckchairs on the board of the IMF. No doubt this will cheer up those families in drought-stricken Kenya whose babies were snatched by starving hyenas.
In the span of just ten months, key developing countries have accomplished what they could not achieve in the previous half a century: They have shouldered aside the staid 7 nation club to take a seat at the table.