FOREIGN POLICY ASSOCIATION 2011-2012 Annual Report Mission Founded in 1918, the mission of the Foreign Policy Association today, as it has been throughout its 94-year history, is to serve as a catalyst for developing awareness, understanding, and informed opinion on U.S. foreign policy and global issues. Through its balanced, nonpartisan publications and programs, FPA encourages citizens to participate in the foreign policy process. To learn more about the Foreign Policy Association, please visit www.fpa.org. TABLE OF CONTENTS Foreign Policy Association Board of Directors 4 Message from the Chairman and the President 5 FPA Presentation: Introducing Henry Kaufman: Speaking his Mind, Making the Country Better by Paul Volcker 7 FPA Presentation: Rapidly Rising Financial Concentration: Observations and Analyses by Henry Kaufman, President, Henry Kaufman and Company 9 Great Decisions 2011: Making Sense of the World for Hundreds of Thousands of Readers 14 National Opinion Ballot Report 16 Great Decisions Television Series 17 Great Decisions Updates 18 Headline Series: The Quest for African Unity 18 Great Decisions Teacher’s Guide 19 Outreach Through Technology 20 Foreign Policy Association University 21 Great Decisions Community Outreach 22 Great Decisions Teacher Training Institute 2011 24 Five Great Decisions Groups Earn Special Recognition 26 Academic WorldQuest New York Competition 27 Foreign Policy Association Meetings Program 28 FPA Presentation: Justice is Non-Negotiable: Strategies of Tyranny Will Not Work by Tsakhia Elbegdorj, President of Mongolia 32 FPA Presentation: Kyrgyzstan Chose Freedom: We are Learning about Democracy by Roza Otunbayeva, President of Kyrgyzstan 35 FPA Presentation: A Decade of Evolving Partnership by Peter MacKay, Minister of National Defense, Canada 49 FPA Presentation: Greece: Why the Financial Crisis Happened by Stavros Lambrinidis, Minister of Foreign Affairs, Greece 53 Off-the-Record (OTR) Lecture Series 59 Foreign Policy Association Financial Summary 60 Foreign Policy Association Contributors 61 In Memoriam 63 Mary L. Belknap Paul Calello Warren Christopher John R. Kennedy John W. Ryan Foreign Policy Association Membership 66 Corporate Members FPA Fellows FPA Patrons John C. Whitehead Fellows FPA Sponsoring Associates FPA Associates FPAnnual Report FPA Board of Directors Louis Bacon Maurice R. Greenberg Ponchitta A. Pierce Chairman Chairman and Chief Executive Officer Magazine writer, television host, Moore Capital Management C.V. Starr & Co., Inc. and producer Kevin F. Barnard Patrick W. Gross Irene D. Pritzker Partner Chairman President Arnold & Porter LLP The Lovell Group IDP Foundation, Inc. Carol E. Baumann Mary R. “Nina” Henderson Marco Tronchetti Provera Professor emerita Managing Partner Chairman and Chief Executive Officer University of Wisconsin-Milwaukee Henderson Advisory Pirelli & C.S.p.A. John H. Biggs John D. Hofmeister Antonio Quintella Chairman Judith L. Biggs Founder and Chief Executive Citizens for Affordable Energy Credit Suisse Hedging-Griffo Julia Chang Bloch J. Michael Hopkins W. Michael Reisman President Myres S. McDougal Professor of Law US-China Education Trust President, Securities Processing Solutions Fixed Income Yale Law School Gary W. Brown Broadridge Financial Solutions, Inc. William R. Rhodes President and Chief Executive Officer President and Chief Executive Officer CIBC World Markets Corp. Elbrun Kimmelman William R. Rhodes Global Advisors LLC Terrence J. Checki Peter F. Krogh Hugh R. Roome III Executive Vice President Dean emeritus President Federal Reserve Bank of New York Walsh School of Foreign Service, Scholastic International Georgetown University John J. Conroy, Jr. Theodore Roosevelt IV Head of Global Strategic Initiatives Richard S. Lannamann Managing Director Baker & McKenzie LLP Vice Chairman Barclays Capital Corp. Spencer Stuart David A. Coulter Alfred F. Ross Managing Director and Senior Advisor Alex Lari Warburg Pincus LLC Chairman Edward B. Rust, Jr. The Claremont Group, LLC Chairman and Chief Executive Officer Archibald Cox, Jr. State Farm Group Chairman Noel V. Lateef Sextant Group, Inc. President and Chief Executive Officer Frances Aldrich Sevilla-Sacasa Foreign Policy Association Chief Executive Officer Edward F. Cox Itaú Private Bank International Partner Donna Dillon Manning Patterson, Belknap, Webb & Tyler LLP Dame Jillian Sackler Harold McGraw III Gonzalo de Las Heras Chairman, President, and Chief Peter K. Scaturro Advisor to the Chairman Executive Officer Everett M. Schenk Grupo Santander The McGraw-Hill Companies Chief Executive Officer BNP Paribas North America David B.H. Denoon Thomas B. Michaud Professor of Politics and Economics President and Chief Executive Officer Wolfgang A. Schmidt New York University Keefe, Bruyette & Woods, Inc. Keith Stock Katherine E. Dietze Robert C. Miller Senior Managing Director Chairman Partner First Financial Investors, Inc. Off-the-Record Board of Governors Davidson, Dawson, & Clark, LLP Daniel F. Sullivan Brendan Dougher Richard A. Navarre New York Market Managing Partner President-Americas John Temple Swing PwC Peabody Energy, Inc. President emeritus Foreign Policy Association James P. Dougherty Jeanne C. Olivier Enzo Viscusi John Duncan Edwards Partner Senior Advisor President and Chief Executive Officer Shearman & Sterling LLP ENI S.p.A. Hearst Magazines International Douglas L. Paul Spiros J. Voutsinas Jonathan Feigelson Vice Chairman, Fixed Income President and Chief Executive Officer Senior Vice President and General Counsel Credit Suisse Atlantic Bank Division, New York TIAA-CREF Reed Phillips III Commercial Bank Peter A. Flaherty Managing Partner Jeanette Sarkisian Wagner Managing Director DeSilva + Phillips Corporate Arcon Partners, LLC Finance, LLC John C. Whitehead 4 Message from the Chairman and the President he voyage of discovery consists not in of globalization. Many members of our workforce are un- seeking new landscapes but in having new prepared to compete in a global economy. Without proper eyes,” said Marcel Proust. At its best, preparation, without global competence, Americans will education is a transformational voyage of see their standard of living decline in the coming years. “discovery.T And seeing the wider world with “new eyes” Newsweek recently conducted a survey based on can be the most exciting and fulfilling part of the voyage. questions from the U.S. citizenship test. One thousand The Foreign Policy Association takes pride in working randomly selected Americans were asked to answer ques- with educators to open new vistas for students at all tions about U.S. history and U.S. institutions. Questions educational levels. Imparting global competence—the focusing on global affairs included: “Who was President knowledge, skills, and dispositions that students need to during World War I?” and “What was the main concern of be successful in the 21st century—has never counted for the United States during the Cold War?” Eighty percent more. Helping teachers inspire students to learn about of respondents answered the first question incorrectly. world affairs before the dew of curiosity evaporates is Seventy-three percent of respondents answered the second one of our most gratifying achievements. question incorrectly. The Foreign Policy Association is committed to help- Informed citizens are key to a healthy democracy, as ing bring along new generations of global-minded leaders. the Foreign Policy Association has emphasized throughout In his classic work The Age of Uncertainty, John Kenneth more than nine decades of providing public education in Galbraith observed that all great leaders have one charac- international affairs. National debates and deliberations teristic in common: the willingness to confront unequivo- require informed citizens. Elections of leaders require cally the major anxiety of their people in their time. Ac- informed citizens. And without informed citizens, it is cording to Galbraith, this, and not much else, is the essence unlikely that leaders will be held responsible for their of leadership. Today, we cannot escape the consequences decisions and actions. Students participating in the 2011 WorldQuest New York competition, sponsored by the Foreign Policy Association to build student interest in global affairs. 5 Archibald Cox, Jr., FPA chairman (left), with Sebastián Piñera, President of Chile (middle). and Noel V. Lateef, FPA president and chief executive officer, at FPA’s annual World Leadership Forum. Developments abroad affect more and more areas of an extraordinary conference on the role of the media in life in the United States. According to the U.S. Chamber foreign policy. Under the leadership of Carol Engebretson of Commerce, more than one in five American jobs today Byrne, the Minnesota International Center has done an directly depends on international trade. Yet our education- outstanding job of organizing Great Decisions programs al institutions and news media often fail to address global and initiating over 35 Great Decisions discussion programs issues. Some public figures aggravate the situation by, for throughout Minnesota. example, talking about the “Iraq-Pakistan” border, refer- We are deeply saddened by the passing in 2011 of our ring to Russia as the Soviet Union, and confusing North vice-chairman, Mary Belknap. Her service on our Board Korea and South Korea. of Directors, spanning nearly four decades, was exem- The Foreign Policy Association is needed today more plary. Mary was totally dedicated to the Foreign Policy than ever.