Medvedev also sees the war in South Ossetia as symptomatic of a larger and more deeply-rooted problem.

Medvedev: “A barbaric aggression against South Ossetia and the global financial crisis – two very different problems which nevertheless have common traits and a common origin...A local reckless enterprise provoked a rise of tensions far behind the region’s borders, in the whole of Europe, in the whole world. It called into question the efficiency of international security institutions and practically destabilized the basics of the world order. The lessons of mistakes and crises of 2008 proved to all the responsible nations that it is the time to act, and it is necessary to radically reform the political and economic system."

Medvedev is right. The present architecture for global security needs to be thoroughly revamped as does the global financial system. Unilateralism, preemption and the Bush Doctrine have only made the world a more dangerous place. So, too, Wall Street's disp

Good article.