In his spare time

Michael Ignatieff reviews Leslie Gelb’s new book in the Times.

Talk of Bretton Woods II may be overambitious, but some new global architecture of financial regulation and oversight, or at least more effective coordination of national regulation, is going to be necessary once we touch bottom in this financial crisis. American financial misrule may have gotten us into this mess, but it will be American leadership that will have to dig us out, with the help of solvent allies with good banking systems, like Canada’s, among others.