UN Anger Simmers Over US Econ Crisis

Sept. 25, 2008— -- Anger over America's fiscal crisis and the threat it poses to the world economy has been voiced in discreet conversations in the halls of the United Nations during the body's annual meeting this week -- but that discretion was abandoned today.

The economic crisis "fell on our heads like a bomb," said French Foreign Minister Bernard Kouchner, capturing the sentiment of many other officials here who have spoken in private throughout the week.

U.S. officials are quizzed daily about the economy by their foreign counterparts, and there is a palpable frustration among the assembled diplomats that the crisis was allowed to happen and, for some, at the Bush administration's response.

Both emotions were on full display today when Kouchner spoke to journalists. The normally animated and free-speaking foreign minister became even more so as he lamented the "poor people" who "not only lost their houses" but will now be called on to pay for the administration's $700 billion bailout plan.

Kouchner was careful to add that he did not mean to attack the administration, but in the same breath he blasted the United States for failing to provide sufficient oversight to prevent the economic mess.

"No rules!" Kouchner exclaimed, his voice rising. "People were not protected!"

The economic problems appeared to trouble the former head of Doctors Without Borders more than other issues normally close to his heart, like Darfur, AIDS relief and human rights.

There is concern among economists that a financial meltdown of the U.S. economy would also hammer the economies of Europe and Asia, a thought that triggered the angry hallway conversations at the U.N.

Kouchner called on the world's major industrial powers, called the G8, to meet to discuss a solution, and he suggested an expanded summit to include large countries currently excluded, like China, Brazil, India, South Africa and Mexico.

When Bush spoke at the UN earlier this week, he dedicated most of his speech to the war on terrorism, allocating only a few sentences to the economic crisis that appeared so ominous to the world's leaders.

He told the U.N. he was aware the world was watching how the U.S. was dealing with the crisis, and assured them America was taking "bold steps" and would act in the "urgent time frame required."

Kouchner also said what is becoming all too apparent: countries are reluctant to move forward on diplomatic initiatives with the U.S. until the next president is in place. Because the Bush administration is a lame duck, there is little chance for progress on its key foreign policy goals before leaving office.

"There is a feeling people want to wait, despite who may win," Kouchner said when describing the atmosphere at this year's meetings, just over a month before the November election.

Kouchner said that there was "hesitance" to move forward on issues like Iran sanctions, Afghanistan, Iraq and Georgia because countries wonder if the next administration will end up changing course. Speaking about the Bush administration's push for sanctions on Iran, Kouchner said it would "take months" to approve more sanctions on Iran.