we are now lendg twice as much the i.m.f. did lend at thi time. it shows the depth of the crisis. >> reporter: are you ill imposing those conoversial conditions that yoused to impose the past? i'm reading out iceland here and they're complaining y're driving up health-carcosts, you're dving up their interest rates, this is an atta on their sovergnty. >> you know, why do yobelieve that a country mes in and knocks on my door and ss, we need your lp? cause they are in trouble. if they are not in ouble, they are not coming; they don't ed us. nd if they are in trouble, may come partly fromhe global economynd environment and it comes very often, almostlways, because they he their own domestic problem, because th didn't run the rht policy. so, ofourse, when we are coming, we tell them, we are going to help yo but the iso use to help you , at the same time, you don' fix what is going wrong your economy. ifyou don't fix your economy, the same causes will ge the sameonsequences and you will still be in trouble. countries don't likthat. why? they saits a prob

critics say it is just word, but the i.m.f. will be policing the deal, and it says, too, wait and see. >> the great recession that we've gone through and we're still going through is it the best enforcement mechanism. it showed what unbalanced growth, inconsistent policies, inconsistent rel regulation, and insufficiently applied regulation can produce. >> there is a bit more on fixing the banks and bankers' pay. no word on how much capital banks have to put aside for a rainy day, but it is going to be more than it was. if you wanted a cap on bank bonuses, you will be disappointed. regulators will be able to tell banks to pay out less. >> we will not condone the old system of bonuses. in is no return to the bad old days. there were the bribblingtable clashes here yesterday between police and demonstrators, but so far today, the police have things under control. bbc news, pittsburgh. >> the former israeli prime minister ehud olmert went on trial. he insisted he was innocent. the charges relate to accusations that he accepted hundr

according to the i.m.f., its economy could grow by 7% this year, two percentage points higher than expected. he's also improved law enforcement and security, leading to the lifting of some israeli check points. the "new york times" columnist in tom freedman has called his pragmatic approach the most exciting new idea in arab governance ever. the prime minister is in new york with the palestinian delegation for the opening of the united nations general assembly. earlier today, president obama met privately with israeli prime minister benjamin netanyahu and palestinian president mahmoud abbas. before he went into three-way talks with the two leaders, he spoke sternly about the urgency of resuming peace talks. >> simply put, it is past time to talk about starting negotiations, it is time to move forward. it is time to show the flexibility and common sense and sense of compromise that's necessary to achieve our goals. permanent status of negotiations must begin and begin soon. and more importantly, we must give those negotiations the opportunity to succeed. and so my message to these two leader

accordg to the i.m.f., s economy could grow by 7% this year, two percentage points higher than eected. he also improd law enforcement and security, leadg to the lifting of some israeli check point the "new yortimes" columnist in tom eedman has called his pragmatic approach the mo exciting newdea in ab vernance ever. the prime minier is in new rk with the palestinian degation for the opening of the ited nations general assely. earlier toda president obama met privately wh israeli pme minist benjaminetanyahu and palestinian predent mahmoud abbas. befo he went into ree-way talkwith the two leaders, he spoke stely about the urgency of resumingeace talks. >> sply put, it is pt time to talk about starti negotiions, it is time to move forward. it is time to show the flexibility and common see and sense of compromise that's necessary to achie our goals perment status of negotiations must begin and begin soon. anmore importantly,we must give those negotiations the opportunity tosucceed. and so my message to these two leaders is clear: despite all the obstacles, despite allhe history, despite a

international standardto public finan and the we bank has seen impressi economic growth accordin to the i.m.f. it economy could grow by 7% this year twopercentage points higher than expted. he'slso improve law forcement and security leadinto the liftingf some israeli check points. the "new york mes" columnist inom frdman has called his pragmatic approach the st exciting new ia in ara gornance ever. the prime minist is in new yo with the palestinian deletion for the opening of the uned nations general assemb. earlier today,resident obama met privately wit israeli pri ministerenjamin nanyahu and palestinian presint mahmoud abbas. beforee went into the-way talks th the twoeaders he spoke stern about the urgency of resuming pce tas. >> simply put, it is past time to talk aut stting negotiatns, it is time to move forward. it isime to show the flexibility and common sens and sense of compromise that's necessary to achiev our goals. permant status of negotiations must begin and begin soon. and re importantly, must give thoseegotiationshe opportunity to cceed. and so my messageo these two leaders is

we also explore the role and impact of the i.m.f. n the region during this period of economic crisis. africa is increasing strategic interest to the global economy. the continent is expected to soon provide the united states with more petroleum than the middle east. again i will repeat, the continent of africa is expected to soon provide the united states with more petroleum than we get from the middle east. several reports state that more than half of all africans are estimated to live on a dollar or less a day. the nations we visited were interested in a help up not hand out. millions of countries have poured billions of dollars to improving conditions for africans but their efforts have repeatedly failed to stimulate large-scale sustainable growth. this is in part because many of these groups do not fully incorporate local traditions, values, and attitudes into their assistance programs. assistance can only be successful if it is culturally sensitive and adapts to the needs of a local community. the direct impact of a global crisis

and the institutions like i.m.f. orld bank that new supposedly everything when the crisis happened in brazil in countries like brazil, now they don't know nothing when the crisis happened in the u.s. and so it's necessary for us to take advantage of this crisis and do things the right way to have... the financial system has to be regulated. we have to end with the tax havens and it's necessary that the central banks in the world should control a little bit the bank's financing because they cannot bypass a certain range of leverage and so i believe that today if you want me to be sincere, i believe that there's no other more... any reason for a g-8 group or any other "g." i believe that we should guarantee that the g-20 should be now an important forum to discussty t major economic issues of the world. >> reporter: brazil hasn't been badly hurt by the economic crisis. is that because you so heavily regulated your banking sector after your last economic crisis of the 1990s? and would you have other countries do what you

there was no panic in the united states after three months. >> reporter: moreover, says i.m.f. chief dominique strauss- kahn, the g-20s key members cooperated as never before in history. >> this cooperation took place because everybody was scared and understood it was not time to fight one against the other one, but to work together. will it last beyond the crisis? that's the big question. it has to. >> reporter: strauss-kahn is talking about cooperation in bailing out the global financial system. but the big g-20 economies also spent money and none more than china, again growing strong. professor yasheng huang. >> the plan was 25% of the g.d.p. spread over two years and now, of the chinese g.d.p., now we are talking about 30%, 35% of g.d.p. now, by the end of the summer. >> reporter: so $400 billion to $500 billion in not even a full year in china, that would be a multi-trillion dollar stimulus package in the united states this year. >> it's a massively larger as compared to the u.s. stimulus program. >> we just so-so. like this, as before. same as before. >> reporter: on the s

then schip and the appropriations, you've got an i.m.f., this cap and tax, the house has passed this one, this is the biggest tax increase in the history of our country, the president made the promise that if you're making less than $250,000, don't worry, we're not going to tax you, except the little detail, any time you flip your light switch, you'll get taxed with this $846 billion, which is, of course the biggest tax hike in our history, and then of course the government health care being proposed even dwarfs that. so we're talking about a pattern and history of tremendous rate of spending. in fact, if you were to take a look at all the deficits from george washington to george bush, it comes out to about $5 trillion, we're looking at $8 trillion for this administration. so we have a promise that this isn't going to cost very much we don't have much historical data to give us any sense this is going to be a financially responsible package. now one of the things that goes to the heart of health care, and i think probably if a bunch of just plain old americans were going to stand ar