But You Forgot About Timmy

Timmy The Invisible Boy is taking his act on the road to London today at the G20 summit of financial ministers. But the one question on everyone's mind there is "How ya gonna fix the banks, Tim?"

The ministers were meeting near London to prepare for a leaders' summit on April 2 but prospects for tangible progress this weekend were limited by splits on what emphasis to place on government spending and regulation.

Nor was there any more clarity from the United States on how it plans to clean up banks' toxic assets, which many say is essential to get the world economy moving again.

That shifted the primary focus to securing pledges that the International Monetary Fund, Asian Development Bank and other agencies have the financial firepower to come to the rescue of countries in difficulty.

"We need a commitment from countries that they will do whatever is necessary and as for long as necessary to support their economies," said Alistair Darling, Britain's finance minister, host to the talks at a luxury countryside hotel.

Ahh, but Timmy The Invisible Boy doesn't have any answers, and nobody else wants to spend the kind of money the US government is doling out for its stimulus.

Not looking really good for the G20 here. Somehow I expect the membership requirement will change in the next few years.