Our corporate "scandals" show that an understandable global accounting system for a global market is long overdue.

The fundamental American right to a presumption of innocence has been discarded by the media, and almost anyone can allege an accounting irregularity and drive the market cap of the accused company into single digits.

History shows us that sovereign governments often default on their loans, particularly in times of war or economic upheaval. Europe finds itself in this situation now and would do well to examine past sovereign debt crises—particularly, the European sovereign debt crisis of the 1920s—for lessons.

Today's IMF does little or nothing for US national interests, especially when we face enormous domestic economic challenges. Why should Washington not support Agustin Carstens, break the EU hold on the IMF and stop IMF support for the euro?

Banks trying to prevent Wal-Mart from entering their businessshould tell us a lot about what the separation of banking and commerce is really about.

In opposing Wal-Mart's application to acquire a bank-like institution in Utah, the banking industry is hurting its own prospects for growth and expansion.