Financial markets around the world experienced tumultuous swings following Standard & Poor's first-ever downgrade of the U.S. credit rating on Aug. 5. An ongoing European debt crisis and forecasts for sluggish economic growth worldwide are also rattling investors.

When a group of countries block consensus on the most fundamental issues (such as promoting democracy or fighting terrorism or drugs) in a conscious effort to undermine the organization's effectiveness, 'consensus' becomes a weakness.

Despite his pledge to engage countries in the hemisphere, President Barack Obama's engagement with Latin America tends to be episodic, and on multilateralism and economic engagement in the region, the United States has lost considerable ground.

A new regional organization excludes the two critical economic partners of many of the region's nations, while distracting from many important issues.

This year promises a period of permanent crisis in Venezuela.

Roger F. Noriega discusses the issues that are likely to drive U.S.-Latin American relations in 2010.

Roger Noriega comments on how the crisis in Honduras has affected the United States' role in Latin America.

If confirmed as assistant secretary of state for Western Hemisphere affairs, Arturo Valenzuela will bring a cerebral, deliberative style to the process.